Vietnam will remain one of the best investment destinations for industrial real estate in South-East Asia for the next 10 years and beyond, experts said at a recent conference held in Ho Chi Minh (HCM) City.
President and co-founder of Gaw Capital Partners, Kenny Gaw, when speaking on the sidelines of the “Industrial Real Estate: Filling in and Filling up” conference recently and said Vietnam is expected to continue moving up the value chain due to its stable growth, export-oriented economy, a highly skilled workforce and strategic location.
“With favourable incentives, competitive labour costs, a stable political environment, a positive economic outlook and free trade agreements, Vietnam has also become favoured by foreign investors moving out of China.
“Furthermore, Vietnam is experiencing a golden population structure, with 60 per cent of its population very young, productive and hardworking,” he said was reported as saying by Vietnam News Agency.
Gaw said Vietnam, which is involved in the Trans-Pacific Partnership negotiations, boasts a strategic geographical location in the heart of Southeast Asia, which is home to several large and vibrant economies.
“Vietnam’s upcoming industrial property evolution will be the foundation for attracting additional foreign direct investments,” he added.
It added that economists, meanwhile, have expressed confidence that the Vietnamese economy will bounce back this year.
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Though the fourth wave of outbreak has profoundly impacted the manufacturing sector in HCM City, Vietnam’s commercial hub, the country remains a popular foreign investment destination.
In the first two months of this year, Vietnam received US$2.1 billion worth of new foreign investment and disbursed US$1.6 billion in public investment for respective increases of 6.8 per cent and a 4.2 per cent over the same period last year.
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Source: Vietnam Insider