Japanese firms operating in Asia see Vietnam as the most attractive investment destination in the region, thanks to the country's high economic growth as well as its strengthening position as a production hub and its large consumer market, an NNA survey shows.

Of 630 respondents across East Asia, Southeast Asia, India and Australia, 35.7 percent chose Vietnam as the most promising economy for investment — far above the 17.8 percent who selected second-ranked India.

Once firms establish themselves in Vietnam, they can consider expanding their operations in Cambodia, Laos and Myanmar, said an official in the nonmanufacturing sector in Vietnam.