With a growing number of multinationals looking to set a foothold in Vietnam, the country is having a great opportunity from a new wave of foreign investment, according to the trade ministry.
On the occasion of the 25th anniversary of the US-Vietnam diplomatic relations, Adam Sitkoff, executive director of AmCham Hanoi, has shared with Hanoitimes his thought about US-Vietnam relations and the outlook of economic ties.
While countries across the world are still in the fight against Covid-19, Vietnam has resumed business as usual and become one of the first countries to diversify the supply chains.
Vietnam is looking for cooperation with French companies in fields of renewable and green energies, hi-tech, agriculture, manufacturing and processing.
For this year and early 2021, the PM expects fiscal deficit and public debt could widen by an additional 3–4 percentages of GDP to provide more support for enterprises.
Japan considers Vietnam one of the most favorable investment destinations in Asia, said Japanese Ambassador to Vietnam Yamada Takio.
The city expects to promote the Hanoi brand as an attractive tourism destination the region and the world, and advertise the city’s image at major markets.
Hanoi would take this crisis as an opportunity to reshuffle economic activities and attract investment from multinationals, said a city leader.
Local firms should be active in learning from their foreign partners to improve expertise and master new technologies, said an expert.
In 2020, Hanoi targets to attract over US$5 billion in FDI, while investment promotion activities would focus on new markets, particularly member countries of the CPTPP and the EVFTA.