(VOVWORLD) - Vietnam has emerged as a hub of foreign direct investment (FDI), according to the eurasiantimes.com.
 Illustrative image (Photo: VNA) |
In an article posted on Monday, the website said that in the race to become an Asian tiger, Vietnam’s FDI has averaged more than 6% of GDP, the highest in any emerging country, according to American multinational investment bank and financial services company Morgan Stanley’s emerging markets strategist Ruchir Sharma.
Friendly business and investment policies, development of industrial zones, and an ample supply of young workers (60% of the total population) make Vietnam an attractive destination for investors, the article said. Vietnam has attracted FDI of 16.12 billion USD last year, a record high growth of 81%. Even during the COVID-19 crisis, Vietnam’s economy has done well because the government has reduced or delayed tax payments and land-use fees for businesses, revised the investment law, and signed a free trade agreement with the EU (EVFTA).