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Vietnam attractive to intra-ASEAN investment

Vietnam would be an attractive destination for intra-ASEAN investment thanks to the Government’s determination to equitise and withdraw capital from State-owned enterprises.
Vietnam attractive to intra-ASEAN investment ảnh 1Illustrative image (Source: internet)
Singapore (VNA) – Vietnam would be anattractive destination for intra-ASEAN investment thanks to the Government’sdetermination to equitise and withdraw capital from State-owned enterprises.

Chief Executive Officer of Malaysia’s MaybankKim Eng Group Dato John Chong made the remark at a recent Invest ASEAN 2017Conference in Singapore, which attracted over 800 representatives from 126global investment funds and 49 businesses in Southeast Asia.

“We are in the equity market, and we see thereare a lot of fundraising demand for infrastructure projects. We also seeopportunities in places like Vietnam and Indochina region, where thegovernments are working on the privatisation of some state-owned enterprises,so there may be some project financing opportunities,” he was quoted as sayingin an article on The Edge Financial Daily.

He noted that the 630-million-strong SoutheastAsian region needs an estimated of 600 billion USD in investment forinfrastructure projects in 2016-2020. It is expected to be a fertile land forinvestors to explore, he added.

According to Maybank CEO Kim Eng, intra-ASEANforeign direct investment (FDI) recorded an annual growth of 11 percent from2008 to 2015.

It expects that six key markets in ASEAN, namelyMalaysia, Singapore, Indonesia, the Philippines, Thailand, Vietnam will enjoyan annual growth rate of 4.8 percent, picking up from the estimated 4.6 percentin 2016, on the back of trade recovery, higher commodity prices and improvedglobal electronics demand.

Vietnam is forecast to record a high growth rateof 6.3 percent in 2017 and 6.2 percent in the following year.-VNA

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