Illustrative image (Source: VNA)Hanoi (VNA) - Vietnam is still regarded byinvestors as an attractive destination thanks to its stable politics and macroeconomy, favourable geographical location, and advantages in land and human resources,according to Deputy Minister of Planning and Investment Tran Quoc Phuong.
The country has maintained growth in 2020 despite themarked impact of the COVID-19 pandemic on economic activities, Phuong said, notingthat Vietnam has, therefore, become a major candidate during the transition ofthe value chain in Asia.
During online investment promotion events withpartners in Asia and Europe held recently by the Ministry of Planning andInvestment (MPI), major investors again expressed their interest in investment inVietnam, he added.
In fact, major groups such as Apple, Foxcom, andLuxshare have increased their orders and investments in the country, withcapital amounting to billions of US dollars.
Do Nhat Hoang, head of the MPI’s Foreign InvestmentAgency, expects that Vietnam will welcome many investors later this year andnext year, especially after Prime Minister Nguyen Xuan Phuc gave approval tothe resumption of certain international flights.
Upgraded infrastructure in industrial, processing, andeconomic zones has also played a role in investment attraction, as industrialand economic areas nationwide lured about 517 foreign projects with totalinvestment of around 8.5 billion USD in the first nine months of this year.
In the first nine months of this year, the country had 10,009 foreign projects valued at some197.8 billion USD, of which 70 percent has been disbursed. There were 9,806 domestic projects with investment of some 2.34 quadrillion VND.
Especially, the number of domestic projects in industrial and economic zones stood at 442with combined capital of about 91 trillion VND (3.9 billion VND).
MPI reported that as at the end of September, businessesin industrial and economic zones had earned 135.7 billion USD, down 3.5 percent year-on-year, and generated jobs for about 3.83 million workers.
The total export value in these zones hit 10.1 billionUSD, a rise of 0.7 percent year-on-year. Import revenue was 87.2 billion USD,down 1.2 percent.
As of the end of September, a total of 366 industrialparks had been established, with 279 operational, mainly in key economicregions.
The Prime Minister has recently approved the establishmentof 19 coastal economic zones covering about 871,100 ha, of which 17 have been formed.
In anticipation of a new foreign investment wave, Vietnam hasreviewed its land fund at industrial parks, focused on human resources training,promoted the support industry, and connected major FDI projects, while removingdifficulties faced by businesses and improving the local investment environment,Hoang said./.
VNA
