December 17, 2019

[Corporate News] PwC’s APEC CEO Survey 2019: Vietnam remains top destination for cross-border investment

In addition to being positive on cross-border investment, 62% of respondents in Vietnam expect to increase their domestic investment in the next 12 months, higher than other economies such as China, Japan and Singapore.

Among Asia-Pacific Economic Cooperation (APEC) business leaders with a footprint in Vietnam, 44% plan to increase investment in the country over the next year, making the country once again the most attractive destination for foreign investment.

Leaders’ prospects for revenue growth in their principal economy in the next 12 months. Source: PwC’s APEC CEO Survey 2019. 

The findings are extracted from PwC’s latest survey “Doing business across borders in Asia Pacific 2019-2020”. Survey results include responses of over 1,000 business leaders from 21 APEC economies who collectively account for half of world trade and more than half of the world’s GDP.

In addition to being positive on cross-border investment, 62% of the respondents in Vietnam expect to increase their domestic investment in the next 12 months, higher than other economies such as China, Japan and Singapore.

Moreover, business leaders in Vietnam are more optimistic about prospects for their own organizations, with 49% “very confident” of revenue growth in the year ahead, as compared to 34% of APEC business leaders.

“Amidst anticipated pressure from increased challenges to cross border activities, Vietnam is holding on to its momentum for continuous growth with business leaders’ confidence boosted with uplifted optimism, and the economy continues to attract investments not only from overseas but also from its expanding domestic force,” said Dinh Thi Quynh Van, PwC Vietnam’s general director.

Finding new pathways through technological and workforce changes

The responses from business leaders in Vietnam showed noticeable prioritization on advanced technology and equipping the workforce with the necessary skills to stay competitive in the market, which are both in line with global trends.

Approximately 80% of business leaders in Vietnam see technology advancement as a strategic priority. Thus, it is encouraging that a majority plan to increase budget allocation, especially in integrating data and systems, as well as accelerating digital skills development in the next two years.

However, as automation and AI advances in the workforce, this year’s survey highlights that employee roles are also being redefined. 23% of business leaders in Vietnam struggle to recruit people with appropriate skills to accommodate automation. And only 5% of Vietnamese leaders, as compared to 12% of total APEC businesses, say with automation, they are creating more jobs with the right talent fit.

Strategic stewardship of automation grows trust

While 80% of business leaders surveyed in Vietnam show that adoption of advanced technology has improved trust among their customers, only 49% believe there is improved public trust. In addressing the areas that need additional regulation to enhance the public trust, both Vietnamese and APEC leaders acknowledge ethical use of cybersecurity, AI and data privacy as top concerns.

In order to innovate and grow in the digital economy, business leaders want oversight, guidance and predictability.

“Business leaders don’t often call for more regulation, but companies are acutely aware of the risk that disconnected or ineffective policies in areas such as AI, cyber security and privacy protection can have on their plans for investment and the trust that consumers have in business,” added Bob Moritz, PwC’s global chairman.

According to The Hanoitimes

More News

See all

March 05, 2023

EuroCham Shared Our Views on Boosting Vietnam’s Business and Tourism on VTV4

Read more

March 02, 2023

Vietnam Business Forum (VBF) 2023 Scheduled for March 17, 19 – Register Now!

Read more

March 02, 2023

Food, Agri and Aqua Business Sector Committee (FAABS) Elected its 2023 Board

Read more

February 27, 2023

[CORPORATE]Vietjet opens new flight routes Ho Chi Minh City – Sydney; Ho Chi Minh City – Melbourne only 0VND

Read more

February 23, 2023

EuroCham and HAWA Sign MOU at HawaExpo 2023 to Boost Industry Cooperation and Trade Activities

Read more

February 22, 2023

[Work @ EuroCham] Sector Committee Coordinator

Read more

February 22, 2023

EuroCham Spoke at a Meeting Between HCMC’s Leaders and Foreign Business Associations

Read more

February 21, 2023

[CORPORATE] Discover the EIS Educational Village – Open Day 25th March 2023

Read more

February 21, 2023

[CORPORATE] EMS Vietnam – Vietnam Post’s High quality International Express Service

Read more

February 21, 2023

EuroCham Vietnam and DOLISA Met to Discuss Work Permit Process Difficulties in HCMC

Read more

February 20, 2023

Vice-Chair Claudia Anselmi Shared Perspectives at Human Rights Due Diligence (HRDD) Forum

Read more

February 13, 2023

[Work @ EuroCham] Head of Office Hanoi cum External Relations Manager

Read more

February 09, 2023

EuroCham Will Unveil Our 2022/2023 Whitebook and GEFE 2022 Report on Feb. 16

Read more

February 06, 2023

Chairman Alain Cany Sat Down for an Interview with Forbes Vietnam

Read more

January 30, 2023

Deutsches Haus Ho Chi Minh City Ushered in the New Year with a Lion Dance

Read more

January 19, 2023

The European Business Organization Worldwide Network’s (EBO WWN) Southeast Asian Network Kicked Off Its First Meeting of 2023

Read more

January 16, 2023

Q4 2022 Business Climate Index Results Released

Read more

October 05, 2022

EuroCham’s GEFE 2022 Press Conference in Hanoi

Read more

September 20, 2022

EuroCham Met with Prime Minister Pham Minh Chinh three times last week

Read more

August 24, 2022

EuroCham and its Nine Affiliated European BAs Held the “GEFE and You – How You Can Get Involved” Webinar

Read more

August 17, 2022

Restricted content

Read more

August 11, 2022

[Corporate] EMS International Services to Japan, Korea, Taiwan with extremely preferential rates in July and August 2022

Read more

August 05, 2022

EuroCham attended program on “Connecting the suppliers in the Mekong Delta of Vietnam with distributors, exporting businesses and trade promotion organizations”

Read more

August 01, 2022

EuroCham attended the Workshop "Evaluation Framework for Business regulation reforms and Data Analysis solutions"

Read more

July 28, 2022

[Corporate] BASF Q2 2022: BASF again with strong earnings despite continued high prices for raw materials and energy

Read more

July 08, 2022

Digital Sector Committee – Newsletter Issue No.3 / 2022

Read more

July 01, 2022

[BCI Q2 2022] European Business Stakeholders’ Confidence in Vietnam’s Business Environment Declined Slightly Following Global Economic Uncertainty

Read more

June 30, 2022

EuroCham Ventured to Vung Tau for a Field Trip

Read more

June 13, 2022

[Business Luncheon] Leveraging Artificial Intelligence: The Future of Banking and Financial Services in Vietnam

Read more

June 10, 2022

EuroCham Participated in the Fourth Vietnam Economic Forum

Read more

Pour une expérience optimale, veuillez tenir votre mobile à la verticale !

Platinum Partners

Gold Premium Partners

Gold Partners

Silver Partners

Premium Service Partners