Czech expert lauds changes in Vietnam’s foreign investment attraction policy
David Jarkulisch, an economic diplomat from the Czech Republic, has spoke highly of positive changes in Vietnam’s revised Law on Investment which aims to attract and bolster efficiency of foreign investment.
A production line of the RoK-invested Hana Kovi Vietnam garment firm (Photo: VNA)
Prague (VNA) – David Jarkulisch, an
economic diplomat from the Czech Republic, has spoke highly of positive changes
in Vietnam’s revised Law on Investment which aims to attract and bolster efficiency
of foreign investment.
In an article published on the website of
the Ministry of Foreign Affairs of the Czech Republic, he noted that the
revised law, which is to take effect at the beginning of 2021, will improve
conditions and incentives for foreign investors.
The law aims to make Vietnam’s business
climate more appealing to foreign investors and attract new investment in high
technology, Jarkulisch said.
Although Vietnam is among the most
attractive investment destinations in Asia, foreign investment in the country so
far has primarily targeted low tech sectors, he added.
As a result, the Vietnamese Government
decided to adjust its foreign investment attraction strategy last year to
support innovative and high-tech industry sectors, the diplomat noted. An
important factor of this strategy is to change investment incentives.
The Government emphasises that a majority
of the incentives and changes in the new investment law reflect the demands of
large multinational companies that have long sought to enter the Vietnamese
market.
The author also underlined that despite the
negative impacts of COVID-19, Vietnam remains attractive to investors and drew
a total of 18.8 billion USD in foreign investment in the first seven months of
2020, a year-on-year decline of only 7 percent./.