Business

FDI influx prompts Vietnam to improve business environment: experts

A recent strong influx of foreign direct investment (FDI) to Vietnam has prompted the government to design long-term policies and create a favourable and transparent environment for foreign investors to operate in a long term in the country, according to experts.
FDI influx prompts Vietnam to improve business environment: experts ảnh 1Illustrative image (Source: VNA)
Hanoi (VNA) – A recent strong influx of foreigndirect investment (FDI) to Vietnam has prompted the government to design long-termpolicies and create a favourable and transparent environment for foreigninvestors to operate in a long term in the country, according to experts.

Statistics from the Ministry of Planning and Investmentshowed that 35-40% of the total FDI capital injected to underway projects inVietnam are poured to those in industrial parks (IP) and economic zones (EZ).The rate in the manufacturing-processing sector is up to 80%.

Deputy Minister of Planning and Investment Tran Quoc Vuongsaid that Vietnam is eying a “golden chance” to attract a new FDI wave,especially to IPs and EZs.

To date, 61 out of the 63 cities and provinces have had IPs andEZs, with a total 403 IPs, 18 coastal EZs and 26 border EZs.

The IPs and EZs are destinations for large-scale firms suchas Samsung, Panasonic, Boeing, Canon, LG, Sumitomo, Foxconn, and VSIP.

Micheal Vu Nguyen, Boeing country director in Vietnam, saidthat the firm’s production value in Vietnam has reached 200 million USD. Heexpressed his hope that the Vietnamese Government will continue to maintain open,flexible and effective policies for major suppliers in the aviation sector,enabling them to make more investment in Vietnam.

Experts held that Vietnam is currently a favourabledestination for investors thanks to its political stability, fast post-pandemicrecovery, ensured macro-economic balances and controlled inflation, along withgood infrastructure system and the country’s engagement in a large number offree trade agreements (FTA).

Vu Tien Loc, President of the Vietnam InternationalArbitration Centre (VIAC), held that the FDI has benefited Vietnam in manyways, prompting the country to speed up economic restructuring and growth modelreform, and improve its institution, legal policies, business environment and market economy development.

Nguyen Anh Tuan, Vice Director of the Foreign InvestmentAgency, said that despite COVID-19 impacts, foreign investment activities inVietnam are still bustle, benefiting industrial sector, especiallysupporting industries, as Vietnam is prioritising FDI projects in the fields ofhigh technology, supporting industries, renovation and digital economy,creating favourable conditions for local firms to join global value chain./.
VNA
#Ministry of Planning and Investment #foreign direct investment (FDI) #IP #EZ #Vietnam #Vietnam news #Vietnam News Agency
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