Vietnam still tops the APEC economies to receive a net increase in cross-border investment over the next 12 months.
According to a survey done by PricewaterhouseCoopers (PwC) on the 21 APEC economies’ CEOs, Vietnam has a conducive environment to start business and has a cheap labour force as well.
In a press briefing this morning in Port Moresby, PwC in its latest survey of 1,189 business leaders across the 21 Asia-Pacific Economic Cooperation (APEC) economies, PwC found that 35 percent were very confident of revenue growth, down slightly from 37 percent a year ago, while a net 51 percent plan to increase investments over the next year.
PwC carried out the survey in the lead-up to the APEC CEO Summit, which takes place this week in Port Moresby.
In addition to being positive on revenue growth, a net 51 percent of business leaders are planning to raise levels of investment, up from 43 percent two years ago.
The biggest winners across APEC for foreign investment will be Vietnam, China, USA, Australia and Thailand, with Australia entering the top five investment destinations as a new entry among respondents, and Indonesia dropping out of the top five this year.
According to PwC, Papua New Guinea can only be on the top five if it opens up a conducive environment for investors.
Vietnam has experienced many changes which include the increase and affirmed the country’s contributions to forming multilateral mechanisms to build an Asia-Pacific of peace, stability, dynamism, connectivity and prosperity.
(Picture: D Asia Travels)