Vietnam is most promising Asian investment destination for Japanese: NNA survey

Its growth potential and low-cost labor supply continue to curry favor among Japanese companies, making Vietnam their most promising Asian investment destination.

More than 41percent of the 820 valid responses chose Vietnam as the most promising destination for overseas investment in 2020, according to a survey released this week by Japan-based News Network Asia (NNA), a news agency providing economic and business reports for Japanese companies operating in Asia.

The respondents preferred Vietnam for its growth potential and skilled and low-cost labor force as well as its proximity to China, the world's second largest economy, according to the survey, conducted from November 26 to December 9 last year. India was second and Myanmar ranked third.

A survey conducted by the Japan Bank for International Cooperation last month revealed Japanese investors chose Vietnam the third most attractive investment destination behind India and China for the medium and long term. Japan was Vietnam's fourth largest FDI contributor in 2019 after South Korea, Hong Kong, and Singapore.

Source: VOV5