The Hanoitimes - The APEC CEO Summit 2017 convened on November 8 has gathered nearly 2,000 enterprises from APEC member economies, including leading names in the world. As such, the Summit has opened doors for a new beginning in cooperation and investment between Vietnam and APEC member economies.
According to the Ministry of Foreign Affairs, attending the APEC CEO Summit 2017 are nearly 2,000 enterprises from APEC member economies, and more than 800 leaders from leading corporation and enterprises in Asia – Pacific regions.
As such, famous names coming to Vietnam included Elon Musk, founder of Tesla Motors; Sheryl Sandberg – COO of Facebook; Liam Mallon – President of Exxonmobil Development Company at Exxon Mobil Corporation, to Mark Konyn – Group Chief Investment Officer of AIA Group Limited and Scott Price – Executive Vice President of Global Leverage for Walmart International. Not to mention leaders of famous companies in the world, such as DHL, Johnson&Johnson, FedEx Express, along with start-ups branded as game changers, such as Rappler, OFO, Malong, Air BnB.
Danang, Vietnam is the host for APEC Economic Leaders' Week from November 6 - 11.
Among these names above, many have been planning on investment and business activities in Vietnam. For example, ExxonMobil has an ambitious project up to 10 billion USD in Vietnam. Walmart is planning to join the Vietnam’s retail market, and the same as FedEx.
After APEC CEO Summit 2017, it is expected there will be more cooperation and billions of USD of investment into Vietnam from APEC member economies. A new beginning is coming not only in fields of traditional investment such as processing, manufacturing and real estate, but also many new fields in the context of industrial revolution 4.0. On November 6, right after the APEC CEO Summit 2017, Chinese billionaire Jack Ma, founder of Alibaba Group has visited Vietnam and brought heatwave to Vietnam’s e-commerce market and online payment.
In reality, since the year of APEC 2017 began, economic experts said Vietnam being the host will have golden opportunities to attract investment from APEC member economies. This assessment has become true, as in the first 10 months of 2017, APEC member economies have registered investment in Vietnam with total capital of 24 billion USD, contributing to 85% of total Foreign Direct Investment (FDI) in Vietnam. In the post APEC 2017, it is estimated that this investment flow into Vietnam will only increase, which is the same as what happened after APEC 2006 with Vietnam being the host, a big wave of FDI investment has come into Vietnam.
Sheryl Sandberg - COO of Facebook also attends APEC's events.
Despite Vietnam only officially joined APEC in 1998, but after 30 years of attracting FDI, there is a big influence from APEC member economies. Evidently, most of the APEC founders on November 1989, such as Japan, the US, Thailand, Korea, Malaysia, Singapore are the very first partners coming to invest in Vietnam right after the country opened its door for foreign investors. These countries mentioned above formed the first wave of FDI into Vietnam in period 1991 – 1995, and the second FDI wave began since 2005.
According to statistics from the Foreign Investment Agency of the Ministry of Planning & Investment, as of October 20, except Peru and Papua New Guinea have not invested in Vietnam, all other APEC member economies have registered capital of investment in Vietnam with amount up to 246.3 billion USD, contributing to 78.6% of total FDI investment in Vietnam for over 30 years (around 313 billion USD).
Moreover, among the top 10 foreign investors in Vietnam except British Virgin Islands in the 5th, all 9 other countries are APEC member economies, such as Korea, Japan, Singapore, China and the US. These are strategic investors of Vietnam, with the total investment of 9 countries up to 237.5 billion USD, contributing to 96.5% total investment of APEC and 76% FDI into Vietnam.