130 foreign investors explore investment opportunities in Vietnam
130 foreign investors explore investment opportunities in Vietnam
Approximately 130 international investors who are leaders of technology startups, major industrial corporations, and financial institutions attended the Investor Conference 2024 held from Tuesday to Wednesday in Ho Chi Minh City.
Don Lam, CEO and founding partner of VinaCapital Group, speaks at the Investor Conference 2024 held in Ho Chi Minh City from October 8 to 9. Photo: Tuoi Tre |
The number of investors joining this year’s edition rose by some 20 percent compared to last year.
Of these, about two-thirds involved foreign indirect investment (FII), while one-third came from foreign direct investment (FDI), according to Don Lam, CEO and founding partner of VinaCapital Group, which hosted the conference.
In his opening speech, Lam said that Vietnam’s resilience, optimism, and determination to move forward continue to provide international investors with plenty of exciting opportunities, despite the escalation of geopolitical tensions and the uncertainty of the short-term global economic outlook.
Panel discussions at the event focused on the prospects for Vietnam’s economy and stock market, future growth policies, domestic consumption trends, the banking and real estate sectors, renewable energy, and carbon credits.
International investors were also keen on exploring opportunities in artificial intelligence, semiconductors, green and clean energy, especially the investors from Europe.
Recently, a foreign firm expressed its desire to develop a data center worth more than US$1 billion in Vietnam, requiring robust Internet infrastructure and access to clean energy to enhance the planned center’s competitiveness.
These panel discussions were led by senior executives from investment funds and top companies in Vietnam, such as FPT Smart Cloud, GHC Strategy & Communications, Cimigo, Nam Long Group, Gamuda Land, Validus, Quickom, Huize Holdings, Kido Group, and Vinh Hoan Corporation.
Addressing the conference, Brook Taylor, an economist and author of ‘Vietnam: Asia’s Rising Star,' said that there are still many misconceptions about Vietnam among foreigners.
“I hope to help them better understand the journey Vietnam has taken, where it stands today, and its potential for the future,” Taylor elaborated.
Alex Hambly, a global investment expert with over 30 years of experience, shared insights on Vietnam’s economic outlook, saying that the Southeast Asian country boasts many advantages for further growth and is becoming increasingly attractive to investors in the short term.
He highlighted that Vietnam’s GDP growth is projected to increase to 6.5 percent in 2024 and 2025 from 5.1 percent in 2023.
The country’s exports may experience a decline next year, but strong growth in domestic retail sales could help offset this, Hambly said.
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| Alex Hambly, a global investment expert with over 30 years of experience, shares insights into Vietnam’s economic strengths at the Investor Conference 2024 held in Ho Chi Minh City from October 8 to 9. Photo: Tuoi Tre |
He underlined the importance of Vietnam’s consumer market, which makes up 60 percent of the country’s GDP and is anticipated to expand eight percent next year.
This expansion is backed by the real estate market, where demand is high but supply remains limited.
He expressed his belief that the Vietnamese government’s policy adjustments could help revive the property sector.
Besides, the possibility of the U.S. Federal Reserve further lowering interest rates would pave the way for the State Bank of Vietnam to cut rates, thereby promoting the development of the real estate and stock markets.
He pointed out that a thriving middle class, industrialization supported by FDI, and geopolitical factors, including the shift of manufacturing to countries with more favorable conditions, are among the key drivers in Vietnam's long-term economic growth.
