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Foreign investors interested in green development, semiconductor industry in Vietnam
Green, clean development and semiconductor chip production are among the sectors in Vietnam that foreign investors are interested in, according to VinaCapital CEO and Founding Partner Don Lam.
At the group’s Investor Conference for 2024 held in Ho Chi Minh City on October 8-9, Don Lam said that more than 130 foreign investors have been attending the event with speakers coming from various industries and fields, technology startups, industrial corporations and large financial institutions.
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The number of participants is 20% higher than that of the previous year, showing their interest in the Vietnamese market which is witnessing more positive signals.
Discussions at the conference mainly focus on Vietnam’s economic and stock market prospects, policies to promote future growth in Vietnam, domestic consumption trends, banking and real estate sectors, renewable energy and carbon credits.
According to Don Lam, foreign investors, especially those from Europe, are much interested in green, clean development and the semiconductor chip industry in Vietnam.
An investor expressed his desire to invest in a data centre worth more than 1 billion USD in Vietnam. The investor requires a clean power supply to make the data centre different from others.
Regarding investment potential, VinaCapital Chief Investment Officer (CIO) Alex Hambly said in the short term, Vietnam's economy is growing strongly thanks to a low interest rate and many policies that support the real estate market, thereby expanding consumption levels and boosting GDP growth.
In the long term, there are three main driving forces for growth, namely FDI-led industrialisation, production shifting to “friendly countries”, and the rapidly-growing middle class in Vietnam, he said.
Established in 2003, VinaCapital is one of the leading investment and asset management groups in Vietnam with a total value of 3.7 billion USD. In addition to the VinaCapital Vietnam Opportunity Fund Limited (VOF) - a closed-ended investment company traded on the Main Market of the London Stock Exchange, the group is managing open-end funds, exchange-traded funds (ETF), trust accounts and domestic investment funds serving domestic and foreign investors.
VinaCapital initiated its first investor conference in 2005, serving as a platform to introduce Vietnam to foreign investors and promote investment opportunities in the country.
These conferences allow current and prospective investors to witness Vietnam's growth first-hand and gain unique insights from experts.
SpaceX wants to invest US$1.5 billion in Vietnam, where it sees great potential for satellite Internet development.
A subsidiary of South Korean electronics giant Samsung that has operations in the northern province of Bac Ninh is set to invest another US$1.8 billion there.
About 14.15 billion USD worth of foreign direct investment (FDI) was disbursed in the first eight months of this year, up 8% year-on-year, marking the highest for an eight-month period over the past five years, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
The northern province of Bac Giang will continue to focus on innovating and enhancing the quality of investment attraction in the coming time, according to the provincial People's Committee.
Foreign direct investment (FDI) from China has continued to flow into Vietnam, according to the Ministry of Planning and Investment.
Foreign companies, especially Chinese, are investing and hiring more staff in Vietnam to shift their production to the country or expand.
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