Business

Seminar looks to lure more foreign investment

Adjusting preferential policies for investment projects according to development plans in different areas is essential to attract more foreign direct investment (FDI), Chairman of the Vietnam Association of Foreign Invested Enterprises Nguyen Mai said at a seminar held in Hanoi on October 17.
Seminar looks to lure more foreign investment ảnh 1As of September 20, 2017, Vietnam had 24,200 active FDI projects with total registered capital exceeding 310 billion USD, with about 167 billion USD disbursed (Illustrative image. Source: VNA)

Hanoi (VNA) – Adjusting preferentialpolicies for investment projects according to development plans in different areasis essential to attract more foreign direct investment (FDI), Chairman of theVietnam Association of Foreign Invested Enterprises Nguyen Mai said at aseminar held in Hanoi on October 17.

For developed cities such as Hanoi, Ho Chi MinhCity, Da Nang, and Hai Phong, it is necessary to promote industry andhigh-quality services, creating high added value products and increasingcompetitiveness both domestically and globally, he said.

At the same time, he urged not choosinglabour-intensive and environmentally-unfriendly projects, he added.

Deputy head of the Foreign Investment Departmentunder the Ministry of Planning and Investment Dang Xuan Quang noted some majorfactors to attract more foreign investment such as ensuring sustainable socio-economicand environmental development, developing the private sector, drawinghigh-quality projects, and grasping opportunities from the fourth industrialrevolution.

Experts recommended paying attention to policiesconnecting FDI enterprises with domestic ones while developing the supportindustry and joining global value chains.

Since 1991, the foreign economic sector has beena driving force for Vietnam’s economy, contributing significantly to thecountry’s industrial productivity, services, import-export, State budgetcollection, and gross domestic product.

From 1991-2017, Vietnam lured nearly 162 billionUSD in FDI. Notably, the presence of more large-scale projects worth at leastone billion USD between 2011 and 2016 helped Vietnam become a destination toproduce hi-tech products such as smart phones, tablets, and informationtechnology.

As of September 20, 2017, Vietnam had 24,200active FDI projects with total registered capital exceeding 310 billion USD,with about 167 billion USD disbursed.-VNA
VNA
#preferential policies#investment projects#FDI#Vietnam Association of Foreign Invested Enterprises#promote industry and high-quality services#increase competitiveness#hi-tech products
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