News and World Report: VN – spotlight in FDI attraction in ASEAN
Viet Nam ranks eighth among 29 best economies to invest in, and first among ASEAN, according to the U.S. News and World Report.
A total of 112 countries and territories invested in Viet Nam in 2018. Japan took the lead with US$8.59 billion, followed by the Republic of Korea (US$7.2 billion) and Singapore (US$5 billion).
The country’s manufacturing and processing sector has traditionally gained the most interest from foreign investors, and the two sectors attracted US$16.58 billion in FDI last year, followed by the real estate sector (US$6.6 billion) and retail sector (US$3.67 billion).
The country’s Foreign Investment Agency (FIA) last month announced that a total of US$14.22 billion in FDI has been disbursed so far this year, a 7.3% year-on-year increase and 2,759 new projects with a total commitment of US$10.97 billion have been approved.
The report shows that Viet Nam’s labor productivity index reached VND102.2 million (US$4,450) per laborer in 2018, nearly double that of 2011. In 2011-2018, the country’s labor productivity increased by an average of 4.88% annually, with 2016-2018 witnessing an average increase of 5.77% annually.
U.S. News and World Report’s rankings were derived from the results of a global perceptions-based survey which saw nearly 7,000 business decision makers rank countries based on eight equally weighted country attributes; economic stability, favorable tax environment, skilled labor force, technological expertise, entrepreneurship, innovation, dynamism and corruption.
Viet Nam has jumped three ranks on the 2019 Global Innovation Index (GII) to place 42nd out of 129 economies around the world, according to the latest ranking that was announced by the World Intellectual Property Organization (WIPO) in New Delhi, India.
With this jump, Viet Nam has leapt 17 spots since 2016. This year’s result is also the highest-ranking Viet Nam has ever achieved.
source: www.chinhphu.vn
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