|Vietnam deserves to be a “new dragon” of the Association of Southeast Asian Nations (ASEAN), said analysts at a seminar held in Paris, France on January 15 on Vietnam’s investment potential. They agreed that Vietnam is an open country, which is on the right track to develop strongly and holds great potential of investment for French businesses.
Addressing the event, Vietnamese Ambassador to France Duong Chi Dung highlighted achievements Vietnam have made over 25 years of renewal, through the wide and deep reform in the fields of economics, trade, investment, industry, agriculture, exports and international integration. Over the past five years, the country reached an average economic growth of 7.5 percent per annum.
In 2011 and 2012, despite the global economic recession, Vietnam still maintained the growth rate of 5.9 percent and 5.2 percent, respectively. Export value increased from $15 billion in 2001 to $115 billion in 2012, to which foreign-invested enterprises contributed about $72 billion, accounting for 63 percent of the country’s total export value.
Vietnam is now a destination for investors from 90 countries and territories with 13,700 projects worth about $200 billion. The country has also established economic, trade and investment ties with more than 200 countries and territories and many international and non-Governmental organizations worldwide.
In particular, economic, trade and investment relations between Vietnam and France have developed rapidly over the past time. Two-way trade turnover hit $3.3 billion in 2012, a year-on-year increase of 13 percent. France is the second largest European investor in Vietnam, following Holland , with 340 projects worth $3 billion.
According to the ambassador, the two countries are preparing for the establishment of a strategic partnership in the framework of economic, trade and investment cooperation.
According to JETRO, Japanese investment in Vietnam has hit a record high over the past two years. Last year, for instance, Japan's investment contributed to a quarter of all new projects in the country, equivalent to around 50 percent of its total capital invested. JETRO said that the real challenge is how to maintain and encourage Japanese investment in Vietnam.