OBG Chairman Michael Benson-Colpi presents the first edition of the Vietnam 2017 report to Assistant to the Minister of Foreign Affairs Vu Quang Minh at the launching ceremony on Tuesday in Ha Noi. — VNA/VNS Photo Viet Thanh
Viet Nam’s steady transition to a liberalised economy is the subject of a wide-ranging analysis in a new report by the global research and consultancy firm Oxford Business Group (OBG).
“The Report: Vietnam 2017”, launched by OBG yesterday in Ha Noi, charts the country’s growth over the past three decades, which has seen its share of world trade increase five-fold since the year 2000 and FDI levels rise to account for approximately 70 per cent of exports.
OBG’s report looks in detail at the opportunities that stronger in-country value chains and new trade deals are expected to produce, most notably an agreement with the EU, which will become effective in 2018.
In a year when Việt Nam is hosting the 25th APEC summit, the publication also considers the country’s growing regional role, including its preparations for integration into the ASEAN Economic Community.
The Report: Vietnam 2017 shines a spotlight on the sectors of the economy that are leading growth, including the manufacturing industry, which is benefiting from ongoing liberalisation efforts, foreign interest and growing domestic consumer base. There is also coverage of Viet Nam’s record-breaking tourism industry buoyed by interest in the country’s cultural, historic, natural and culinary attractions.
Michael Benson-Colpi, OBG Chairman, said at the launch that Viet Nam had undoubtedly emerged as a leading investment destination in Southeast Asia, edging out other emerging markets around the globe.
“With trade liberalisation and policy reforms now paying off, Oxford Business Group’s subscribers from across a broad reach of destinations, including London, New York, Bangkok and Jakarta, have shown themselves keen to learn more about the latest developments in this dynamic market,” Benson-Colpi said.
“We are delighted that after more than a year of research on the ground and hundreds of interviews, we are now able to share our definite 212 page guide to Viet Nam’s economic landscape with you all,” he added.
Attending the launch, Assistant to the Minister of Foreign Affairs Vu Quang Minh said The Report: Vietnam 2017 would serve not only as a reliable tool for foreign investors and businesses interested in doing business in Việt Nam, but also as an insightful and objective review for Vietnamese businessman and policy makers.
The report contains contributions from Prime Minister Nguyen Xuan Phuc and former US President Barack Obama, together with a detailed, sector-by-sector guide for investors. It also features a wide range of interviews with other high-profile personalities, including Pham Binh Minh, deputy prime minister and minister of foreign affairs; Nguyen Chi Dung, minister of planning and investment; Dinh Tien Dung, minister of finance; Cecilia Malmstrom, European commissioner for trade; and ASEAN secretary-general, Le Luong Minh.
At the launch event, participants took part in a panel debate on “Improving the corporate environment to secure Viet Nam’s global competitiveness”. Speakers’ discussion topics included the current business and investment environment in Viet Nam, the country’s capital market development, the prospect of labour force development and the most attractive sectors in the view of investors.
Oxford Business Group (OBG) is a global research and consultancy firm, which publishes economic intelligence on the markets of Asia, the Middle East, Africa, and Latin America and the Caribbean. — VNS