Only 5 percent of foreign invested projects in the last 30 years have used high technology. This is a lesson for Vietnam during the new FDI (foreign direct investment) wave. Vietnam has emerged as an appealing FDI destination. A lot of large multinationals have poured billions dollars worth of capital into Vietnam, while others are considering setting up factories here. However, according to the Ministry of Planning and Investment (MPI), because of the Covid-19 pandemic, foreign capital flow will see big changes in the time to come. There are five ‘big changes’. First, M&A activities have slowed down. Second, the global value chain has been disrupted. Third, investment restructuring has been accelerated. Investors are making investment in accordance with the ‘China + 1’ formula. Fourth, investments are redirected into manufacturing and smart technology product supply chains. Fifth, developing countries have become places attracting FDI capital flow. To attract investment, they have to compete with developed countries such as the US, Japan and South Korea, because the governments of the countries are encouraging multinationals to return home. Vietnam will have to compete with many other countries in luring foreign investors in the context of the decline of FDI in the world… Read full this story
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