He made the remark in an article published by Singapore’s Lianhe Zaobao (United Morning) newspaper in its October 9 edition.

In the article, the expert noted that the FDI influx into Vietnam has been on the rise in recent years, citing statistics of the United Nations Conference on Trade and Development (UNCTAD) which showed that USD 16 billion worth of foreign investment was channeled into the country last year.

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The expert also cited a recent report of Vietnam’s Ministry of Planning and Investment which said the country attracted more than USD 18.4 billion in the first nine months of the year.

Sam Cheong Chwee stressed that economic and industrial growth will enhance Vietnam’s position as an important partner and market in Southeast Asia.

The result is attributable to the Vietnamese government’s efforts to bolster infrastructure at key economic and industrial zones, he said, citing an example of the northern port city of Hai Phong which has been developed into a new economic center in the Northeastern region, thus drawing a large FDI amount into high technology agriculture.

Although FDI in the world has generally declined last year, Southeast Asian nations have turned against the trend.

Figures from the UNCTAD show that FDI inflows into the Association of Southeast Asian Nations (ASEAN) in 2018 reached a record high of USD 149 billion, up 3 percent from the previous year. Meanwhile, global foreign investment fell by 13 percent in the period.

The expert explained young population structure is the foremost advantage which helps ASEAN countries successfully attract investors’ attention.

ASEAN boasts a population of about 660 million people, with more than half being under 30.

Source: VNA