Business

Vietnam sees improvements in FDI attraction: investor

Vietnam’s foreign direct investment (FDI) attraction policy has been improved significantly as foreign investors are now allowed to pour capital into almost areas, a businessperson has said.
Vietnam sees improvements in FDI attraction: investor ảnh 1Illustrative image (Source: VNA)
Washington D.C. (VNA) – Vietnam’s foreigndirect investment (FDI) attraction policy has been improved significantly asforeign investors are now allowed to pour capital into almost areas, a businesspersonhas said.

Ann Huynh, Chairwoman of 3SI Inc investment company basedin Virginia, the US, told the Vietnam News Agency (VNA) that Vietnam’sinfrastructure has been upgraded and administrative procedures have been streamlined.

North American investors are interested in emergingmarkets, especially Vietnam,  in suchareas as high-tech and electric vehicle manufacturing, she said, noting thatthey want to learn about the country’s incentives, orientations and infrastructure.

Regarding cooperation between Vietnam and the US,Huynh said it has been expanded and growing fruitfully, from economy,investment and trade to national defence and security, agriculture, tourism,education and war consequence settlement.

She, however, pointed to obstacles to foreigninvestors regarding policies and investment licensing, noting her hope thatadministrative procedures will be further reformed to facilitate operations offoreign enterprises.
Vietnam sees improvements in FDI attraction: investor ảnh 2Illustrative image (Source: VNA)
So far this year, FDI channeled into Vietnam neared8.9 billion USD, with new capital surging after a slight decrease in the firstthree months.

According to the Ministry of Planning and Investment’sForeign Investment Agency (FIA), there were 750 new projects granted investmentlicences worth over 4.1 billion USD, up 65.2% and 11.1% annually, respectively.

A total of 386 projects had their capital added for atotal of 1.66 billion USD, a 19.5% increase in quantity and reduction of 68.6%in value against the same period last year. The growth, despite the associateddecrease, reflected investors’ confidence in Vietnam’s business climate and decisionsto expand their existing projects.

Also in the four months, foreign investors did 1,044transactions of capital contribution and share purchases, with theircontributed capital exceeding 3.1 billion USD, up 70.4% year-on-year. Theyinvested in 18 economic sectors, mostly in processing and manufacturing withover 5.1 billion USD or 57.8% of their total investment.

The number of countries and territories investing inVietnam in the period amounted to 77. Singapore took the lead by pouring closeto 2.2 billion USD into the market, followed by Japan with nearly 2 billion USDand China with 752 million USD./.
VNA
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