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

December 08, 2023

[CORPORATE PARTNERS] BASF engages young minds in chemistry with two new Virtual Lab experiments in Vietnamese

Read more

December 08, 2023

[Event Recap][Breakfast talk] EuroCham Construction Sector Committee’s Successful HCMC Breakfast Talk on Designing with AI!

Read more

December 08, 2023

Vietnam enhances climate role at COP28 with JETP Resource Mobilization Plan

Read more

December 08, 2023

[CORPORATE PARTNERS] The Corporate Sustainability Reporting Directive (CSRD) is resetting the value-creation agenda

Read more

December 08, 2023

EuroCham representatives attend Vietnam 500 Best Employers and Top 10 Workplaces ceremony

Read more

December 08, 2023

EuroCham Vietnam attends first Industrial Park Forum to discuss textile and leather industry challenges

Read more

December 08, 2023

[EVENT RECAP] [Webinar] European Anti-Deforestation Regulation (EUDR) and Vietnam’s preparation for its implementation

Read more

December 05, 2023

[Supported] Viet Nu Trading Corp signs Corporate Sustainable Aviation Fuel (SAF) agreement with Air France-KLM

Read more

December 01, 2023

EuroCham’s IQMED-G&B and Vietnam Drug Administration examine challenges in drug registration for improved healthcare in Vietnam

Read more

December 01, 2023

BeLuxCham ESG Conference 2023: celebrating collaboration and sustainability

Read more

November 30, 2023

2023 Vietnam – EU Trade Forum: a step forward in sustainable development and future value chains

Read more

November 30, 2023

[Supported] Air France celebrates 90 years of elegance

Read more

November 24, 2023

EuroCham Intellectual Property Rights Sector Committee meets Supreme Court to discuss Intellectual Property Rights Enforcement

Read more

November 24, 2023

Exploring collaboration: Binh Duong’s potential for hosting GEFE 2024

Read more

November 24, 2023

EuroCham Vietnam shared at a Customs-Business Dialogue Conference 2023

Read more

November 21, 2023

[CORPORATE PARTNER] BASF and Teamplas give waste a second life

Read more

November 19, 2023

EuroCham Vietnam Gala Dinner and Business Awards 2023: Commemorating a quarter century of championing Europe-Vietnam trade and investment ties

Read more

November 17, 2023

[Work @ EuroCham] Green Growth Sector Committee Intern – based in Ho Chi Minh

Read more

November 17, 2023

[Work @ EuroCham] PHARMA GROUP COMMUNICATIONS INTERN – based in Ho Chi Minh

Read more

November 17, 2023

Charting a green future: highlights from the 2023 Mekong Connect Forum in Ho Chi Minh City

Read more

November 17, 2023

EuroCham honored at VIR’s Sustainable Development Conference for outstanding contributions

Read more

November 17, 2023

[Sector Committee Spotlight] The Tourism & Hospitality Sector Committee (THSC)

Read more

November 17, 2023

Forging sustainable partnerships: FrieslandCampina Vietnam’s innovative collaboration for enhanced recycling and environmental stewardship

Read more

November 10, 2023

EuroCham addresses attendees at AmCham’s green transition conference

Read more

November 10, 2023

Vietnam-EU Economic Forum: charting a sustainable future through green initiatives and trade partnerships

Read more

November 10, 2023

[Recap Event] Future of work explored at EuroCham-JLL Vietnam business luncheon

Read more

November 03, 2023

EuroCham’s field trip unveils investment potential in Ha Nam Province

Read more

November 03, 2023

Global leaders and innovators convene in Hanoi, championing Vietnam’s sustainable future

Read more

November 03, 2023

[Work @ EuroCham] Sector Committee Intern – based in Ho Chi Minh

Read more

October 27, 2023

EuroCham presents on EU business opportunities at Quang Ngai investment promotion conference

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