Geneva-based French-language newspaper Agefi, recently released an article titled “Le Vietnam et les nouveaux tigres asiatiques” (“Vietnam and the new Asian tigers” in English) which outlines Vietnam’s role as one of the leading emerging economies and its important role in Asia.

Screenshot from Agefi.com

Author Guy Mettan stated that: "From January to July, foreign direct investment (FDI) in Vietnam was estimated at $11.57 billion, an increase of $10.2%, the highest amount of FDI in seven consecutive months in the last five years."

He commented on Vietnam's advantages over the new international economic situation and the "China Plus One" policy applied by multinationals and investors, saying that the Southeast Asia country is perhaps the one with most benefit from the situation.

Retrieved from the World Bank report published in August 2022 about foreign direct investment (FDI), Mettan also mentioned Vietnam's GDP growth and inflation rate.

He wrote: "GDP growth is expected to increase from about 2.6% in 2021 to 7.5% in 2022, while inflation is expected to reach an average of 3.8% over the year."

The author then commented on Vietnam's index of economic complexity, adding that the country is among the most complex countries in the world have remained stable with Japan, Switzerland, Germany, the Republic of Korea and Singapore in the order in the lead while several developing economies have made enormous progress.

The Swiss newspaper concluded by positively assessing Vietnam’s candidacy to the UN Human Rights Council after successfully assuming the role of a non-permanent member of the UN Security Council in 2020 to 2021

Along with quickly becoming a high-tech manufacturing hub, with technology groups like Apple and Samsung recently announcing their expansion in Vietnam, Vietnam is also investing heavily in renewable energy. towards net zero emissions by 2050.

The charm of Vietnam to French-speaking and Scandinavian countries

According to the German website dw.com, Danish companies are increasing their presence in Vietnam, as the Southeast Asian country is rapidly increasing in value added and becoming a production hub for major technology exports in the region.

In 2022, Denmark rose to become a major investor in Vietnam when the country’s LEGO Group committed an investment worth US $1 billion USD (1.01 billion euros) to build the first factory in Vietnam. This will be the giant’s first carbon-neutral plant.

Many Vietnamese sectors have brought into play advantages of the EVFTA. Photo: VNA

Trinh Nguyen, senior economist in charge of Emerging Asia at French corporate and investment bank Natixis, thinks Vietnam’s attractiveness as a manufacturing hub has improved in recent years. The country has rapidly escalated value-added and is becoming an important hub for technology manufacturing.

The cooperation between embassies of Vietnam and Denmark had also provided much support for Danish companies to gain more understanding about investing in Vietnam. Mr. Troels Jakobsen, Head of Commerce at the Danish Embassy in Hanoi, said: “Denmark and Vietnam have a very close relationship and last year we celebrated 50 years of diplomatic relations, because Vietnam is always a big investment destination for Danish companies.”

“There are twice as many Danish companies in Vietnam as there are in the other Nordic countries combined,” said Troels Jakobsen. “More and more companies are looking to diversify their supply chains, and here Vietnam is at the top of the list where Danish companies want to expand in Asia.”

In early August, the Vietnamese Embassy in Denmark published a Vietnamese guide for businesses on the Scandinavian market. A few days later, an agricultural delegation visited Vietnam to promote industry relations. The embassy also hosted a forum on Vietnam’s green and digital transformation this month, while the Vietnam-Denmark Business Forum took place in Copenhagen on September 5. Danish companies will also accompany Crown Prince Frederik on a commercial visit to Vietnam by the end of this year.

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