Commitments on investment and services among member countries in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are among the most important factors in Vietnam attracting more FDI and foreign portfolio investment (FPI) in the years to come. While source countries will remain largely the same, there will be better-quality inflows of foreign capital after the agreement takes effect in Vietnam on January 14. Influencing investment Figures from the Ministry of Planning and Investment (MPI) reveal that, as at October 20, CPTPP members had more than $120 billion worth of FDI in Vietnam, accounting for 35.7 per cent of the country’s total. Two of the biggest moves this year are from investors in CPTPP members: the $4.14 billion smart city project of a joint venture between Japan’s Sumitomo Corp. and Vietnam’s BRG Group, and the Laguna project belonging to Singapore’s Banyan Tree, which increased its capital by $1.12 billion. Other projects of note include the $150 million Hanbaram Wind Power Plant and $80 million Ramatex Nam Dinh Textile and Apparel Factory from Singaporean investors, and the $80 million Ykk Ha Nam factory from Japan. Japan, Singapore, and Malaysia – all members – have been leading investment partners of Vietnam… Read full this story
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