Vietnam has adopted an array of measures to improve its attraction of foreign direct investment, or FDI. The country has now moved from “attraction” of FDI to “cooperation” with foreign investors based on a spirit of equality, development for mutual benefit, social responsibility, environmental protection, and sustainable development.

In a bid to catch up with regional countries in the context of the fourth industrial revolution, Vietnam sees science-technology and innovation as drivers of economic growth that help it realise the target of becoming a high-income economy by 2045.

This is a vivid illustration of Vietnam identifying infrastructure breakthroughs as new drivers of economic growth.

At the recent “Investment strategies in the new normal and innovation promotion” conference, participants stressed that complete infrastructure has an important role to play in the development of all economic sectors. Flexibility in policies to improve the investment climate and legal support have also helped boost investor confidence, making contributions to branching out the local economy.

Investors from the Republic of Korea highly value specific programmes and policies from Vietnamese localities. With robust signs of economic recovery, a stable political situation, sound control over the pandemic, and the hospitality of localities in key economic zones, Vietnam continues to be an ideal destination for investment from the country.

Vietnam and the Republic of Korea are celebrating the 30th anniversary of diplomatic relations this year. Trade and investment links between localities in both countries make significant contributions to bolstering the fruitful Vietnam - Republic of Korea ties, creating the conditions for Vietnam to branch out its economy, affirm its strategic position in ASEAN, and improve its global integration./.