The screenshot of the article on Argentina’s Infobae (Photo: VNA)

In an article posted on Infobae on Friday, reporter Rossana Marín highlighted Vietnam is a favoured and promising destination for multinational enterprises to set up production activities, particularly those in technology and automobile manufacturing.

According to Marín, the attractiveness to groups plus the brand of safety has attracted investors who are keen to build factories and establish production operations locally, thus significantly contributing to furthering economic growth.

World Bank’s data show that Vietnam is currently home to 19,400 millionaires and 58 billionaires.  This increase in the number of individuals with high purchasing power will be a sign of the country's economic dynamism, and its ability to attract and create wealth, said Infobae, adding Vietnam, at the epicentre of Southeast Asia's economic boom, will have expected asset growth of 110%.

Regarding FDI attraction, the article said Vietnam has been a magnet to foreign investments, with FDI capital inflows into the country surging 32% year-on-year to 36.6 billion USD in 2023. FDI is an important driver for Vietnam’s economic growth as it has backed up the country’s industrialisation with export as a focus.

According to Infobae, economic experts also recommend that Vietnam needs to increase its workforce training to meet the needs of complex manufacturing activities that require many skills, while improving efficiency and labour productivity through closer co-operation between foreign companies and domestic partners.