Vietnam the 9th destination for APEC investors: PwC

Vietnam the 9th destination for APEC investors: PwC

Vietnam ranks the ninth among investment destinations in the Asia – Pacific region targeted by companies in the next 3-5 years, according to a survey of PricewaterhouseCoopers (PwC) announced on Wednesday.

The APEC CEO Survey 2012 was carried out by PwC International Survey Unit between June and August 2012, polling 376 chief executive officers (CEOs) and industry leaders in 40 economies, including all 21 APEC economies. This is an important survey conducted annually by PwC as the Knowledge Partner of the annual APEC Summit.

Asia-Pacific CEOs said China and the United States were their dominant targets for investment over the next three to five years. Resource-rich areas such as Russia, Indonesia and Australia, and Asian services capitals like Hong Kong and Japan were also cited as top draws for investment.

Vietnam ranks the ninth among investment destinations in the region for companies headquartered in fast-growing economies that are making their largest investments in the next 3-5 years. Besides, the country is the eleventh destination for companies headquartered in mature economies that are making largest investment in the next 3-5 years.

About 40% of CEOs said potential trade agreements by both the Association of Southeast Asian Nations (ASEAN) and the Trans Pacific Partnership (TPP) could have potentially significant impact on their companies.

According to the survey, economic disruptions, including possible recession in the U.S., the Eurozone crisis and the slowing growth in China, have taken a toll on the confidence of CEOs in the Asia-Pacific region.

Just 36% of executives surveyed by PwC said they are “very confident” of business growth over the next 12 months. Longer term, however, prospects improve, with more than half (54%) expressing a high level of confidence for the next three to five years.

In addition, according to the survey, CEOs said the top priorities of the APEC organization should be promoting the free flow of investments in the region, harmonizing regulations and standards, and mapping skills in the region with an eye to helping ease restrictions on immigration.

The survey was announced before the 2012 Annual Summit of the Asia – Pacific Economic Cooperation (APEC) Forum taking place on September 7-8, 2012 in Vladivostok, Russia.

The Saigon Times