The global economic downturn and unpredictable changes around the world have resulted in an overall decline in foreign investment flows but Vietnam is still assessed as a promising investment market with growth potential in the long term.

In May, the world’s leading aircraft manufacturer, Boeing, officially opened a representative office in Hanoi.

Director of Boeing Vietnam Michael Nguyen said the office will serve as a center for cooperating with and linking partners to help Boeing implement its business plans in the country.

Vietnam will be a market of potential if it has qualified human resources, a reasonable investment environment, and government attention, he said, adding that Boeing wants to seek more local suppliers.

AEON Vietnam, meanwhile, also considers Vietnam to be a key investment market, after Japan, in its development strategy in the years to come.

Mr. Furusawa Yasuyuki, a member of the Board of Management at the AEON Group in charge of the Vietnamese market, said AEON targets opening 16 more shopping malls by 2025.

It will also open two or three medium-sized supermarkets in the southern region on a trial basis this year, with areas ranging from 1,000 to 5,000 sq m, and will continue to focus on boosting development in Hanoi and the central region.

A survey from the Japan External Trade Organization (JETRO) released in February shows that 60 per cent of surveyed Japanese enterprises said they will expand in Vietnam over the next one or two years.

The accompanying report said Japanese firms plan to expand operations due to their expectations of revenue increases from market expansion, export growth, and economic development in Vietnam.

The Foreign Investment Agency at the Ministry of Planning and Investment said foreign investors’ trust in Vietnam’s economic growth prospects is one factor attracting FDI into the country.

Capital inflows reached nearly $10.86 billion in the first five months of this year, equivalent to 92.7 per cent of the figure in the same period last year.

Vietnam granted investment licenses to 962 FDI projects with a total registered capital of over $5.26 billion in the period.