A cargo ship sails on Saigon river in Ho Chi Minh city, Vietnam. -- AP Photo/Hau Dinh
HANOI: Despite an unfavourable global economic climate and ongoing challenges of foreign investment flows, Vietnam continues to present strong opportunities that could realise significant investment, according to analysts.
One key source of optimism stems from a series of strategic cooperation agreements signed between Vietnamese and Thai partners during the recent official visit of Thai Prime Minister Paetongtarn Shinawatra to Vietnam.
Among the prominent was a memorandum of understanding (MoU) between Hung Yen Province and Thailand’s WHA Group to develop the Phu Cu Industrial Zone (IZ).
Another MoU was signed between Phu Tho province and Amata Vietnam Group for strategic investment cooperation, alongside a decision approving an investment policy for Giang Quang Thinh IZ in Thanh Hoa province, a project also backed by Amata.
These developments underscore the increasing activity of Thailand’s leading industrial real estate players in Vietnam.
WHA and Amata, which have already committed billions of US dollars to projects in Quang Ninh, Dong Nai and Nghe An, are now expanding further – a move widely seen as strategic to capture sustained foreign investment inflows despite global economic uncertainties.
Amata Vietnam chief executive officer Somhatai Panichewa said her company would conduct investment research and implement projects in industrial zones, smart urban areas, logistics and trade in Phu Tho province.
Beyond Thailand, foreign investment in Vietnam continues to gather momentum through several other international partnerships.
In a meeting with Vietnam’s general secretary To Lam, Kudryashov Sergei Ivanovich, general director of Russian energy giant Zarubezhneft, affirmed their cooperation with Vietnamese partners to develop renewable energy projects, including offshore wind power and green hydrogen.
In discussions with Prime Minister Pham Minh Chinh, China Huadian Engineering Co chair Peng Gangping, expressed intentions to expand investments in biomass, wind and energy storage projects Dak Lak, Tra Vinh, Quang Tri, and Lam Dong provinces.
To date, Huadian has invested US$2.8bil in power projects in Vietnam, with a total installed capacity of 1.5GW.
In a strong vote of confidence in Vietnam, US investment fund Warburg Pincus has announced an additional US$1bil investment in the Grand Ho Tram project, reaffirming its long term commitment to the country.
The move underscores the continued appeal of Vietnam as a destination for high value foreign investment, despite global economic uncertainties and recent concerns over US tariff policies that could potentially impact investment flows, baodautu.vn reported.
The director of Public Policy at Meta, Molly Montgomery,expressed her appreciation for Vietnam’s proactive response to the US government’s tariff policies. — Viet Nam News/ANN
