Vietnam is on the brink of a golden period of investment, driven by resilience against natural disasters and positive investor confidence, according to Bruno Jaspaert of EuroCham. With ambitious goals for sustainable development and strategic location advantages, Vietnam aims to enhance its role as a key manufacturing hub in ASEAN. Simplifying business processes and focusing on high-potential sectors like tourism and renewable energy are essential for attracting quality investments.
Bruno Jaspaert, chairman of the European Chamber of Commerce in Vietnam (EuroCham), lauds Vietnam’s remarkable resilience and readiness for a golden era of investment over the next 7-8 years. He highlights Vietnam’s remarkable ability to recover from super typhoon Yagi, the strongest typhoon of 2024, which would have caused greater havoc in Europe. Jaspaert notes that the Vietnamese government’s commitment to achieving 7% economic growth, even after reduced forecasts, reflects deep-seated resilience within the country’s economy and culture.
Additionally, Jaspaert points to the strong recovery of investor confidence, with EuroCham’s Business Confidence Index reaching its highest level in two years, registering 61.8 points—a 33% increase from the previous year. This rising optimism among European investors underscores Vietnam’s growing reputation as a thriving hub for trade and investment, aided by political stability and efficient government reforms.
Looking ahead to 2025, Jaspaert anticipates continued growth driven by sustainable development goals and digital transformation initiatives, leveraging Vietnam’s strategic location amid global geopolitical dynamics. He envisions Vietnam emerging as a significant manufacturing and logistics center in the ASEAN region, bolstered by beneficial free trade agreements and foreign direct investment (FDI) policies.
For enhancing the business landscape, Jaspaert emphasizes the need for streamlined processes addressing complex licensing and administrative challenges, advocating for clear laws and simplified regulations to attract more foreign investment. He supports the government’s initiatives to enhance operational efficiency by streamlining its administrative framework.
Additionally, he notes promising sectors such as sustainable tourism and renewable energy that could thrive with enhanced regulatory clarity. The geographical advantages of Vietnam will likely boost manufacturing and digital sectors as well, expected to flourish in the evolving global marketplace.
In the context of Vietnam’s economic landscape, continued growth is anticipated through effective management of global challenges and strategic investments in key sectors. The EuroCham’s insights provide indicators of confidence amongst investors, showcasing Vietnam’s potential as a highly favorable investment option amidst shifting global dynamics.
Vietnam is poised for significant investment and economic growth as it navigates global uncertainties with resilience and determination. The government’s focus on simplifying business processes and planning for sustainable development will play a crucial role in enhancing the country’s investment climate, further attracting foreign direct investment, particularly in high-tech and environmentally sustainable industries.
Original Source: theinvestor.vn
