Deputy Minister of Planning and Investment Tran Quoc Phuong speaks at the Vietnam M&A Forum 2020 on November 24, 2020. (Photo: tinnhanhchungkhoan.vn)

He added that M&A has helped to diversify investment sources for the Vietnamese economy, accelerate economic restructuring and the renewal of the growth model, and vary the types of business ownership. M&A has provided the shortest way, with high efficiency and reasonable costs, for foreign companies to penetrate and enlarge their footprint in the Vietnamese market.

“A range of investment plans of local and national scale will be implemented in 2021. This breakthrough will usher in new opportunities for investors. We have spare land to allocate for investment projects. A power development plan for 2021-30 with a vision to 2045 will soon be devised, aiming to double its power generation capacity over the next decade,” said Mr. Phuong.

Vietnam’s M&A market has grown rapidly. Thousands of transactions, worth 50 billion USD, were done in the past decade. According to Euromonitor International Ltd, a London-based market research company, Vietnam’s M&A activities will bounce back to a pre-pandemic value of 5 billion USD in the middle of 2021, with major deals in consumer goods, retail, real estate, agriculture, and industry.