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It is predicted that difficulties will exist in 2010, but FDI businesses are still optimistic about economic growth. This is the vital element so that FDI businesses decide to increase their investment capital into Vietnam.

Vip Hoong Mun, Chief Representative of CapitalLand Holdings (Vietnam) said that the general trend of the world economy in 2010 will go up while Vietnam’s economy achieved a good growth at over 5% in 2009. Therefore, it is believed that Vietnam’s economy in 2010 will see higher growth than 2009. With the faith, the company has just signed a contract worth VNDUS$170mln to develop a hi-class apartment block in Ha Noi, in the presence of Singaporean PM and Vietnamese PM.

Banking sector is the top priority of foreign investors in Vietnam

Whilst, George Kobrossy, General Director of Zamil Steel Vietnam predicted that FDI capital flowing into Vietnam in 2010 will be higher than 2009. This is due to investors’faith and Vietnam’s advantages such as stable politics, abundant manpower, good infrastructure. Another thing is the Vietnamese Government’s commitment in encouraging the development of foreign investors…

In terms of investment fields, according to Dr.Le Xuan Nghia, Deputy Chairman of the National Finance Supervision Committee, banking sector is the top priority of foreign investors when making investment in Vietnam, followed by energy, fuel, telecom, mineral, insurance and real estate…This shows that foreign investors see great potentials of these fields when making investment into Vietnam…

The Vietnamese Government and the State Bank of Vietnam have recently issued open policies, creating an equal business climate between domestic banks and foreign ones. Regarding the real estate, according to Mr.Yip Hoong Mun, although there are still challenges, Vietnam’s real estate market is still good. When FDI capital increases, the domestic real estate will see stronger development in the coming time.

Nguyen Xuan Trung, Acting Head of the Foreign Investment Agency under the Ministry of Planning and Investment (MPI), Vietnam has set the target of luring between US$22bln and US$25bln in FDI capital in 2010. To achieve the target, according to him, Vietnam needs to improve shortcomings on administrative procedures, create more improvements on trade promotion, lure all forces to improve infrastructure, raise the quality of human resources…

Reported by Ky Tan-Translated by K.T