FDI flow into Vietnam surges
According to statistics from the
Ministry of Planning and Investment’s Department for Foreign Investment,
during the January-October period Vietnam licensed 1,050 new
projects totalling more than 13 billion USD, up 79 percent from last
year.
Meanwhile, 6.16 billion USD was added to 393 ongoing projects, a year-on-year rise of 42.5 percent.
The growth is attributable to efforts by the Government, ministries
and localities in improving the business environment and simplifying
administrative procedures to attract more foreign investors.
Vietnam also remains an attractive destination for investors
thanks to the competitiveness in production cost, abundant labour force
and a stable macro economy.
However, Chief
Representative of Alstom Group in Vietnam Henri Noirhomme suggested that
to keep current investors and attract new ones, Vietnam should
upgrade its infrastructure and continue rationalising its administrative
procedures.
He also asked banks and financial organisations to focus on solving bad debts.-VNA