Inside Asian Gaming

IAG JAPAN DEC 2020 64 arrivals respectively. China was the largest single source of tourists with 5.8 million, comprising 32% of all visitation. Tourism aside, the government has indicated clear intent to pursue long-term economic prosperity by way of Foreign Direct Investment (FDI). Last year Vietnam achieved a record US$20.38 billion in FDI, up 6.7% over the US$19.1 billion achieved a year earlier, which itself had jumped 9.1% over 2017 levels. The industrial andmanufacturing sectors have been the largest contributors, with Vietnam representing a lower-cost option for many Asian companies to base their production facilities. South Korea was the number one contributor to FDI in 2019 at US$7.92 billion or 21% of the total, followed by Hong Kong with US$7.87 billion, Singapore with US$4.5 billion, then Japan and China not far behind. On 1 January 2021, an amended Law on Investment will take effect aiming to further streamline Vietnam’s foreign investment process. The key changes are the removal of some industries, including logistics and freight transport services, from lists that currently limit or exclude foreign investors based on various criteria, and more clarity on such issues as foreign ownership caps and M&A activity. According to a research report by Asia-based international law firm King & Wood Mallesons, “There is an increasing recognition in the highest governing levels in Vietnam that the government should proactively attract and select investment projects of high quality, with an emphasis on advanced, clean technology and environmental protection. “There is also a growing recognition that Vietnam needs todiversify bothsourceand formof foreigncapital FEATURES