Vietnam, the new tiger in Asia

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          According to the report from the General Statistics Office, Vietnam’s Gross domestic product rose 13.67% in the three months ending September from a year earlier. Vietnam currently spends 6 % of its GDP on infrastructure while other countries in the region spend an average of 2.3%, making Vietnam the leading country in ASEAN for infrastructure investment. Moreover, Infrastructure is a critical driver behind Vietnam’s economic growth and FDI.

          Foreign investors, especially in high-tech manufacturing, have shifted their production to or expanded investment in the country, which would continue to drive Vietnam’s economic growth for years to come. Vietnam, with its cheap labor, geographic proximity to China, and stable political environment, is a key beneficiary.

          Meanwhile, Foreign direct investment (FDI) continued to flow into Vietnam’s industrial property market, accounting for 19 percent of total FDI or US$3.5 billion during the first nine months of the year, doubling the figure recorded during the same period last year.

Published 12/10/2022

By Ashley Jones