U.S. Companies Consider Vietnam the Most Attractive Destination in ASEAN
Sept. 6 – Vietnam is considered the most attractive investment destination in the Association of Southeast Asian Nations by American companies, according to survey results announced by the American Chamber of Commerce last month.
Out of those surveyed, 57 percent of the companies were already based in Vietnam. An estimated 71 percent of those companies plan on investing more to expand operations as well as 30 percent of U.S. firms in the region.
The results were taken from answers given by 328 U.S. companies with businesses in ASEAN member countries in Cambodia, Indonesia, Malaysia, the Philippines, Thailand, Singapore and Vietnam.
Steven R. Okun, the Amcham chairman for the ASEAN region said that American companies are keen to invest in services, logistics and manufacturing in the country.
American companies have become the second largest source of foreign direct investment from January to August this year, pouring in US$1.79 billion. This is in comparison with 2009, when the United States was at the top spot as the largest foreign investor in Vietnam with US$9.8 billion.