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This is the assessment made by Kai Wei Ang, an economist specializing in ASEAN, of BofA Securities Inc. (formerly Bank of America Merrill Lynch)

Capital for implementing foreign investment projects in Vietnam is estimated at about 8.25 billion USD for the first 5 months of 2024 (Photo: VNA).

In a recent interview with CNBC, Kai Wei Ang emphasized Vietnam's advantages in terms of a competitive labor market and a series of free trade agreements (FTAs) to help simplify its export activities to demanding markets such as the European Union (EU). According to the expert, this is a basic factor that helps the Southeast Asian country attract investment.

Kai Wei Ang, an economist specializing in ASEAN, of BofA Securities Inc. (formerly Bank of America Merrill Lynch) spoke in an interview (Photo: CNBC).

Referring to the issue of electricity shortage in early summer 2023 that Vietnam experienced, he said that this time last year there was a comprehensive supply-demand imbalance in the local electricity industry. Demand is high due to hot weather and depleted reservoirs, leading to limited supply. He said that learning from last year's situation, Vietnamese authorities have been better prepared. They applied more appropriate measures to make sure the issue of electricity shortage will not recur.

Citing statistics from the Vietnamese Government, Kai Wei Ang shared that as of May 20, 2024, the total newly registered capital, adjustments and capital contributions, share purchases, and capital contributions of foreign investors foreign investment in 5 months reached an impressive number of US $11.071 billion. It is up nearly 2% over the same period in 2023. Also for the first 5 months of 2024, capital for implementing foreign investment projects is estimated at about US $8.25 billion, up 7.8% over the same period in 2023, he added.

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