A production line of the RoK-invested Hana Kovi Vietnam garment firm (Photo: VNA)Prague (VNA) – David Jarkulisch, aneconomic diplomat from the Czech Republic, has spoke highly of positive changesin Vietnam’s revised Law on Investment which aims to attract and bolster efficiencyof foreign investment.
In an article published on the website ofthe Ministry of Foreign Affairs of the Czech Republic, he noted that therevised law, which is to take effect at the beginning of 2021, will improveconditions and incentives for foreign investors.
The law aims to make Vietnam’s businessclimate more appealing to foreign investors and attract new investment in hightechnology, Jarkulisch said.
Although Vietnam is among the mostattractive investment destinations in Asia, foreign investment in the country sofar has primarily targeted low tech sectors, he added.
As a result, the Vietnamese Governmentdecided to adjust its foreign investment attraction strategy last year tosupport innovative and high-tech industry sectors, the diplomat noted. Animportant factor of this strategy is to change investment incentives.
The Government emphasises that a majorityof the incentives and changes in the new investment law reflect the demands oflarge multinational companies that have long sought to enter the Vietnamesemarket.
The author also underlined that despite thenegative impacts of COVID-19, Vietnam remains attractive to investors and drewa total of 18.8 billion USD in foreign investment in the first seven months of2020, a year-on-year decline of only 7 percent./.
VNA
