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Investments in Asia Pacific to continue to climb Written by dsiconstruction
Category: Investment Published Date Hits: 8988

A new report released by PwC on November 10 reveals that 46 percent of executives in the region now say they are “very confident” of growth in the next 12 months, up 10 points from 2012 and four points from last year, despite slowing growth in China, the economic engine for the region. Vietnam ranked 7th among the top ten APEC economies for increasing investments, and 6th among the top ten APEC private sector capital investment destinations.

Their plans are spread over each of the 21 APEC member economies, with China, the US, Indonesia, Hong Kong-China and Singapore the most popular destinations for investment. Vietnam with 45 percent of CEOs polled said they plan to increase investment in Vietnam. PwC’s surveyed more than 600 business leaders about prospects for business in the region.

"We have been observing ongoing high levels of foreign direct investment (FDI) into the country with US$22.3 billion licensed in 2013 and US$13.7 billion licensed in the first 10 months of 2014. Investment has primarily been into the manufacturing sector since Vietnam continues to be viewed as a stable, low-cost location with a plentiful supply of labor. FDI has primarily been from Asian countries such as the Republic of Korea, Japan and Chinese Taipei. In addition, there has been an uptick in real estate investment after a long period of relative inactivity with a number of funds investing significant amounts into the country.” – says Stephen Gaskill, Advisory Partner at PwC Vietnam.

Capital spending is a part of it; 57 percent of respondents said they are either building or expanding facilities in APEC economies in the next three to five years, in which 15 percent chose to spend their capital in Vietnam, helped to rank Vietnam  6th among the top ten private sector capital destinations in the Asia Pacific region. Most also plan to hire: 38 percent of respondents expect headcount in their organizations globally to expand by at least five percent a year over the next 3-5 years.

Supporting this confidence is a vision of an Asia Pacific region that is more connected, both physically and virtually, and an outlook for more balanced regional growth. For example, nearly 60 percent of executives say they are now more willing to share insights and resources with business partners in order to speed product development and gain market access. And more than 40 percent say their company will likely enter a business combination outside of their core industry.

Dennis M. Nally, Chairman of PricewaterhouseCoopers International Ltd., said: “CEOs see the need to be bold in breaking down the barriers to growth. They want to finalize the Trans-Pacific Partnership, address intellectual property issues and encourage regulatory harmony in the region. In its 25th year, APEC has an ongoing and important role to play in helping to meet these demands and advancing growth throughout the region.”

Momentum for free trade continues, but progress is slow. Seventy percent of respondents say APEC is moving closer to a Free Trade Area of the Asia Pacific (FTAAP), but more than half (55 percent) say progress is lagging, and 11 percent say it has stalled or even reversed.

The survey found that data-driven changes are having an impact in the region; 57 percent of executives say they are more confident of their ability to respond to changes in the marketplace, and half say they are more skilful at forecasting demand. These executives are more likely to be “very confident” of growth (67 percent) than their peers.

Sixty-seven percent business leaders surveyed plan to increase their investments in APEC economies over the next year.

Forty-five percent of executives polled said they plan to increase their investments in Vietnam over the next 12 months./.

Source: VEN

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