Việt Nam is an enticing destination for foreign investors. — VNA/VNS Photo

Việt Nam is an attractive destination for foreign investors thanks to its high, stable growth, large domestic market and young, well-educated human resources, said Paulo Medas, head of the International Monetary Fund (IMF) team to Việt Nam at the Annual Meetings of the IMF and the World Bank Group (WB) held recently in the US.

According to Medas, despite rising geopolitical instability on the globe, Việt Nam’s economy experienced a growth rate of 5.66 per cent in the first quarter of this year. Exports continue to see an upward trend, facilitating overall growth until the end of this year.

He forecasted that Việt Nam’s economic growth is predicted to expand by nearly 6 per cent this year thanks to the recovery of domestic demand and the Government's support fiscal policies. However, Việt Nam needs to have a flexible fiscal policy to cope with risks and ensure substantial growth, he noted.

The expert said that the country continues to receive a large volume of foreign direct investment amidst the shifting of supply chains to Asia and Việt Nam is one of the investment destinations for foreign investors.

Nevertheless, to remain its attractiveness, Việt Nam should continue to improve its business environment, streamline administrative procedures, develop infrastructure, especially for green energy development, and promote innovation, he added. — VNS