(Illustration photo: Vietnam+)

The survey shows that 49% of Indian businesses say they are focusing on expanding their operations in Vietnam. The increasingly expanding consumer market in ASEAN, the abundant and skilled human resources, and the ability to access international markets through free trade agreements are the most important factors for the surveyed Indian businesses to make business expansion decisions.

Michele Wee, CEO of Standard Chartered Bank for Vietnam, said in a statement: “Despite the unprecedented challenges caused by the COVID-19 pandemic, Vietnam continues to offer exciting business and investment opportunities given its strong fundamentals of a young, dynamic and tech-savvy population, a growing domestic market, a rising middle class and an open economy. The country has been an investment magnet for many years and holds great growth potential for the future.”