Sebagai ekonomi terbesar ke-6 di Asia Tenggara, banyak orang mengabaikan Vietnam sebagai tempat untuk berinvestasi dan berbisnis. Vietnam selalu berada dibawah bayang-bayang negara tetangga seperti  Indonesia, Malaysia, Filipina, Thailand, dan Singapura. Namun, Vietnam seharusnya menjadi tujuan investasi anda berikutnya. Kami jelaskan alasannya.

1. Kinerja luar biasa perekonomian Vietnam selama Pandemi COVID-19.

Di awal tahun 2021, di tengah banyak perekonomian yang masih bergelut dengan pandemi, Vietnam berhasil mencatatkan kinerja yang luar biasa. Kantor Statistik Umum Vietnam (GSO) melaporkan bahwa Produk Domestik Bruto tumbuh 4,48% pada Triwulan pertama tahun 2021.

Selain itu, per 20 April 2021, Vietnam mampu menarik Investasi Asing Langsung senilai US$12,25 miliar. Ada 451 proyek terdaftar baru dengan total modal $8,5 miliar. Menurut laporan Bank Dunia terbaru, PDB Vietnam diproyeksikan mencapai 6,6% pada tahun 2021 dan 6,5% pada tahun 2022, mengungguli proyeksi pertumbuhan ekonomi global yang negatif.

2. Keberhasilan Vietnam dalam mengendalikan pandemi.

Hingga 6 Juni 2021, total kasus COVID-19 sebanyak 8.791 dengan 5.423 kasus masih aktif. Jumlah ini lebih rendah dibandingkan negara tetangga, khususnya Indonesia atau Filipina. Berkat respon cepat dan sigap Pemerintah yang memberlakukan pembatasan sosial ketat, tes yang masif, dan komitmen akan transparansi data.

3. Vietnam dinilai sebagai pihak yang paling diuntungkan dari perang dagang AS-China.

Menurut laporan dari Bank Investasi Jepang Nomura, Vietnam memperoleh 7,9% dari PDB pada tahun 2019 sebagai akibat dari pengalihan perdagangan.

4. Vietnam dianggap sebagai alternatif bagi perusahaan yang ingin mengalihkan produksi dari China.

Sebelumnya, Vietnam berhasil menarik produsen tekstil, garmen, dan industri kelas bawah lainnya yang meninggalkan China akibat dari kenaikan biaya tenaga kerja. Saat ini, perusahaan teknologi internasional seperti Samsung, Olympus dan Microsoft (Nokia) telah merelokasi pabrik mereka ke Vietnam. Kedekatan geografis dengan China membantu perusahaan untuk merelokasi pabrik mereka. Selain itu, populasi muda dan biaya tenaga kerja yang rendah juga menambah daya Tarik Vietnam.

5. Akses perdagangan bebas ke blok ekonomi terbesar di dunia adalah nilai jual utama Vietnam lainnya.

Vietnam memiliki perjanjian bilateral dengan anggota ASEAN, Australia, Chili, Cina, India, Jepang, Selandia Baru, dan Korea Selatan. Vietnam juga memiliki perjanjian perdagangan bebas dengan Uni Eropa, yang mulai berlaku pada musim panas 2020.

6. Perkembangan infrastruktur Vietnam yang pesat.

Vietnam meningkatkan investasinya di bidang infrastruktur. Perbaikin di system kelistrikan, jalan raya, bandara dan pelabuhan laut telah meningkatkan posisi Vietnam dalam Indeks Logistik Bank Dunia dari 64 pada 2016 menjadi 39 pada 2018. Mayoritas belanja infrastruktur Vietnam berasal dari anggaran belanja negara. Pada Maret 2021, Pemerintah Vietnam mengumumkan alokasi $120 miliar untuk investasi sector public dari tahun 2021 hingga 2025. Anggaran ini akan diprioritaskan untuk disalurkan ke proyek-proyek infrastruktur besar.

7. Vietnam menunjukkan sikap ramah terhadap investor asing.

Dengan laju pembangunan yang begitu tinggi, investasi di bidang infrastruktur tidak bisa ditopang oleh pemerintah sendirian. Kontribusi dari investor lokal dan asing diperlukan untuk mencapai rencana pembangunan infrastruktur dan mempertahankan laju pertumbuhan yang tinggi.

Menyadari keterbatasan mereka sendiri, pemerintah Vietnam terus menunjukkan sikap ramah terhadap investor asing. Pemerintah Vietnam memberikan Insentif Pajak Penghasilan Badan (PPh)diberikan kepada investor asing dan lokal untuk mendorong investasi di sektor yang sejalan dengan rencana pembangunan Pemerintah.

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As the 6^th largest economy in Southeast Asia, people tend to overlook Vietnam as place to invest and doing business. Investing in Vietnam is overshadowed by its neighbours such as Indonesia, Malaysia, Philippines, Thailand and Singapore. However, Vietnam might be your next investment destination. There are several reasons of why you should invest in Vietnam.

1. Vietnam’s outstanding economic performance during the COVID-19 Pandemic.

In the beginning of 2021, while many economies were still struggling with the pandemic, managed to record an outstanding performance. Vietnam General Statistics Office (GSO) reported that the Gross Domestic Product grew 4,48% in the first Quarter of 2021.

In addition, as of 20^th of April 2021, Vietnam was able to attract US$12,25 billion worth of Foreign Direct Investment. There are 451 new registered projects with a total capital of $8,5 billion. According to the latest World Bank report, Vietnam GDP is projected to reach 6,6% in 2021 and 6,5% in 2022, outperforming the projected negative global economic growth.

2. Vietnam’s successful control of the pandemic.

As of 6^th of June 2021, there has been a total of 8.791 COVID cases with 5.423 still active cases. This number is lower compared to its neighboring countries, specially Indonesia or Philippines. Thanks to a quick and swift respond by the Government, with the imposition of strict social restrictions, massive tests, and the commitment to data transparency.

3. Vietnam has been called a major beneficiary of the US-China trade war.

According to the report from a Japanese Investment Bank Nomura, Vietnam gained 7,9% of GDP in 2019 as the result of trade diversion.

4. Vietnam has been seen as an alternative for companies that want to shift production out of China.

In the past, Vietnam attracted manufacturers in textiles, garments and other low-end industries that have fled China due to rising labor costs. Nowadays, international tech companies such as Samsung, Olympus and Microsoft (Nokia) have relocated their factory to Vietnam. The geographical proximity to China helped companies to relocate their manufacturing plants. In addition, young population and low labor costs also add to its appeal.

5. Free trade access to the largest economic bloc in the world is another Vietnam major selling point.

Vietnam has bilateral agreements with ASEAN members, Australia, Chile, China, India, Japan, New Zealand, and South Korea. Vietnam also has free trade agreement with the EU, which came into force in summer 2020.

6. Vietnam is rapidly developing its infrastructure.

Vietnam boosted its investment in infrastructure. The improved electric system, national highways, and air and sea ports have boosted the country’s place on World Bank Logistic Index from 64 in 2016 to 39 in 2018.

Majority of Vietnam’s infrastructure spending are coming from public resources. In March 2021, the Vietnamese Government announced the allocation of $120 billion for public investment from 2021 to 2025. This budget will be prioritized to be channeled to major infrastructure projects.

7. Vietnam is showing a welcoming attitude towards foreign investors.

With such a high pace of development, investment in infrastructure cannot come from the public sector alone. Contribution from both local and foreign investors is needed to meet the infrastructure plans and maintain the high growth rate.

Realizing their own limitation, the Vietnamese government has constantly shown a welcoming attitude towards foreign investors. Corporate Income Tax (CIT) incentives are granted to both foreign and local investors to promote investment in sectors or areas that are in line with the Government’s development plan.

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The European Union Vietnam Free Trade Agreement (EVFTA) took effect on August 1 paving the way for increased trade between the EU and Vietnam.

The EVFTA is an ambitious pact providing almost 99 percent of the elimination of custom duties between the EU and Vietnam. As per the Ministry of Planning and Investment (MPI), the FTA is expected to help increase Vietnam’s GDP by 4.6 percent and its exports to the EU by 42.7 percent by 2025. While the European Commission has forecast the EU’s GDP to increase by US$29.5 billion by 2035.

65% of the duties on EU exports to Vietnam has been eliminated upon entry into force of the Agreement, the remainder will be phased out over a period of ten years. EU duties on imports from Vietnam will be phased out over a period of seven years.

• Practically all the machines and appliances are free of tariffs from the moment the Agreement enters into force, and the rest will be after five years. The current fees are up to 35%.
• Auto parts will be duty free after seven years (current duty is up to 32%).
• Approximately half of EU pharmaceutical exports are duty free as entry into force of the Agreement, and the remainder will be duty free after seven years (current duties are up to 8%).
• Duties applied to all exports of textile products has been eliminated as entry into force of the Agreement.
• About 70% of EU chemical exports are duty free at the time the Agreement entered into force and the rest will be after three, five or seven years, as appropriate (current fees are up to 25%).
• Wines and spirits will be fully duty free after seven years (currently the duties are 50% and 48%, respectively)
• Frozen pork will be duty free after seven years, bovine meat will be duty free after three years, dairy products will be duty free after a maximum of five years and food preparations will be duty free after one year. maximum of seven years.

REDUCE NON-TARIFF BARRIERS TO EUROPEAN EXPORTS

The EU and Vietnam have agreed to strengthen the disciplines of the WTO Agreement on Technical Barriers to Trade (TBT).

The agreement also contains a chapter that addresses Sanitary and Phytosanitary Measures (SPS), specifically aimed at facilitating trade in plant and animal products, where the parties agreed on some important principles such as regionalization and the recognition of the EU as a single entity.

These provisions will facilitate access to the Vietnamese market for EU companies that produce a wide variety of products, including household appliances, information technology, and food and drink.

PROTECTION THROUGH TARIFF QUOTAS

Only some sensitive agricultural products will not be fully liberalized, the EU has limited Vietnamese exports through tariff quotas (TRQs): Rice, Sweet corn, Garlic, Mushrooms, Sugar and products with high sugar content, Cassava starch, Surimi, Tuna canned.

A distinct aspect of EVFTA is its strong focus on sustainable trade and a shared vision of labor, corporate social responsibility, and environmental conservation. These values have far-reaching potential to improve the competitiveness of European businesses and their brands.