This statement is included in the United Overseas Bank (UOB)'s report on the Vietnamese economy from January to July. Statistics by UOB show that Vietnam is becoming an economic hot spot in Asia amid rising global trade tensions.
From January to July, Vietnam had more than 2000 new investment projects, a rise of 25%, compared with the same period last year and also a record for a typical year. UOB forecast FDI into Vietnam is likely to exceed 20 billion USD this year, rising by 4.7%.
China is the leading FDI contributor in Vietnam, accounting for 25% of the total. This marks a major change compared with the previous two years when Japan and South Korea topped the ranks.
