Illustrative photo. (Source: VNA)The FDI from large corporations who own advanced technologies is setting thescene for transfer of technology, know-how and expertise to Vietnameseenterprises to improve their competitive edge and build capacity for localeconomic sectors, he told an international conference on “Global FDI andResponses of FDI Enterprises in Vietnam in the New Context” held last week.
Echoing Hoi’s view, Assoc. Prof. Dr. Nguyen Thi Minh Nhanfrom the University of Commerce said studies show that there is a shift in FDIfrom the textile and garment industry to hi-tech industries, for example,computer and electronics manufacturing.
Hoi made several recommendations to help Vietnam luremore new-generation FDI, saying it is necessary to produce outstanding andcompetitive incentives to attract high-tech, eco-friendly projects,particularly those building R&D and innovative centres in Vietnam; and tostrengthen linkages between foreign and domestic investors and facilitatetechnology transfer.
The country should also accelerate investment promotionto catch the eye of financially capable and experienced multinationals; keep aclose watch on the movement of FDI and technologies into Vietnam to selectproper investment projects; and enhance human resources quality, he added.
According to Assoc. Prof, Dr Nguyen Truc Le, Rector ofthe Vietnam National University (VNU)’s University of Economics and Business(UEB), Vietnam was named among the world’s Top 20 FDI recipients for the firsttime last year.
The “new normal” may pose various challenges to Vietnambut it also provides the country with many chances, he said, adding that theseopportunities have been driven by the government’s highly-regarded effort tokeep the COVID-19 at bay and boost economic growth at the same time for months. Vietnam is alsotaking advantage of new-generation free trade agreements to draw more FDI, hecontinued.
The launch of new incentives to selectively attract FDIand improve business climate also play a role in enhancing the quality of theFDI, he cited.
Expectation from the EU-Vietnam Free Trade Agreement(EVFTA) and EU-Vietnam Investment Protection Agreement (EVIPA) is driving theFDI from the EU into Vietnam, said Prof. Dr. Andreas Stoffers, Country Directorof Friedrich Naumann Foundation for Freedom in Vietnam.
Vietnam is the most attractive destination among ASEANmember states, Stoffers said. Having one of the most liberal economic systemsin the region, Vietnam offers appealing conditions for foreign investors toactively do business in the country, he noted, adding that it was not withoutreason that Vietnam was chosen by the EU to sign a trade pact with./.
VNA
