Friday, August 22, 2008

Vietnam Remains Attractive For FDI, Says PwC

HANOI, Aug 21(Bernama) -- PricewaterhouseCoopers (PwC) has made public its annual report on world investment, saying Vietnam remains attractive for foreign investors.

According to a report by Vietnam News Agency (VNA), the second PwC Emerging Market 20 Index showed that Vietnam is now ranked 5th most attractive emerging market destination for investments in manufacturing, compared to its number one position in 2007.

The change in rank reflects mostly changes in the selection of the countries PwC considered for the update, PwC's report said.

Based on macroeconomic data, a number of countries studied last year, for example the Czech Republic, Hungary and Saudi Arabia no longer meet the criteria for inclusion in the Model.

On the other hand, three of the four countries preceding Vietnam, namely Egypt, Bulgaria and Serbia did not qualify for inclusion to the index calculations last year, it added.

Amongst the Asian countries in the PwC EM20 Index, India tops the Manufacturing Index, followed by Vietnam, Thailand, Malaysia, China, the Phillipines and Indonesia.

Countries like Vietnam and Cambodia are still relatively small economies, their low-cost bases can some times offer higher margins to manufacturers.

The report said the BRIC countries including Brazil, Russia, India and China continue to offer good opportunities for investment.

The PwC is the world's largest business advisory group, operating in 150 countries and territories. The PwC established offices in Ha Noi and Ho Chi Minh City in 1994.