Vietnam sets sights on third wave of FDI rebound

(VOVWORLD) - The Vietnamese economy has fared better than most during the COVID-19 pandemic and is well placed to capture renewed FDI interest, according to an article posted on the UK website
Vietnam sets sights on third wave of FDI rebound - ảnh 1Production at JA Solar Vietnam in Quang Chau industrial park of Bac Giang (Photo: Danh Lam/ VNA)

After joining the World Trade Organization in 2007 and trade agreements with the US, China, Europe, Japan, South Korea, and most of the other significant economies in the world, Vietnam began joining “new era” free trade agreements that now form the world’s biggest trading blocks – the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership – as well as free trade agreements with the European Union, Japan, and South Korea, the article said.

Vietnam’s position in the World Bank’s annual ease of doing business ratings has climbed from 91st in 2010 to 70th in 2019. The article said Vietnam has begun to look beyond low-tech manufacturing to the high-value-added and high-tech sectors of the new economy, Industry 4.0, and digital transformation. The Vietnamese government’s economic and regulatory efforts should help attract FDI in the coming years, it added.