Raymund Chao, Chairman for Asia-Pacific and Greater China at the PwC, said they surveyed CEOs across the region where they wanted to put their money in the next 12 months. For two years in a row, Vietnam has come out on top.

According to the survey at the Asian Financial Forum 2019, Southeast Asia has eclipsed China as the region most likely to produce the best investment returns, as the ongoing US-China trade war puts a chill on the world’s second-largest economy.

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A garment factory of the Republic of Korean-invested Kydo Vietnam Co. Ltd in Pho Noi A Industrial Park in Hung Yen province

About 39 percent of respondents viewed Southeast Asia as having the best investment returns, while 35 percent voted for China, a drop from 55 percent in a similar poll last year, and 16 percent for the US.

According to a recent report, foreign direct investment flows into the 10-member Association of Southeast Asian Nations (ASEAN) rose to a record USD 137 billion in 2017, up USD 14 billion from 2016.

The three member states of Vietnam, Indonesia and Singapore accounted for some 72 percent of the foreign direct investment inflows into ASEAN.

Source: VNA