Dr. Nguyen Dinh Cung, former Director of the Central Institute for Economic Management Research and a member of the Prime Minister's Economic Advisory Group, proposed: establish a special task force to negotiate with corporations and businesses that intend to relocate their production lines in order to Attracting high-quality FDI investment. after the pandemic.
Following Vietnam's positive results in controlling the pandemic, many believe that high-quality FDI will flow into Vietnam.
Mr. Nguyen Van Be, Chairman of the Association of Industrial Park Enterprises in Ho Chi Minh City, assessed that Vietnam is currently considered a safe destination for investors thanks to the government's efforts in controlling and repelling the Covid-19 pandemic. In addition, Vietnam is also a bright spot in Southeast Asia as investors from the US, Europe, Japan, etc., are determined to relocate their factories out of China.
Dr. Nguyen Dinh Cung also predicted that there will certainly be a wave of investment capital shifting. However, if we passively wait, this capital flow may not come, or if it does come to Vietnam, it may be of poor quality.
In reality, over the past decades, FDI enterprises have demonstrated certain shortcomings such as exploiting resources, cheap labor, taking advantage of Vietnam's incentives, and even suppressing domestic businesses.
This is the time when we need to be selective and attract high-quality FDI. To do that, we must be proactive, we must act, and we must seek out investors!
Accordingly, he proposed the following specific actions:
Establish a special task force, using the Prime Minister's authority, to negotiate with corporations and businesses intending to relocate their production lines.
Such actions would help Vietnam understand the current situation of multinational corporations and their needs. At that time, Vietnam could also set its own goals for attracting FDI, and determine what it needs from investors after the pandemic.
Mr. Cung pointed out specific actions, suggesting that Vietnam should be divided into several groups. Some groups would go out to invite, greet, anticipate, and meet with investors to attract the necessary capital. We cannot simply wait; if we do, other countries will snatch up the best opportunities. Only the remaining ones will come to Vietnam. (According to Zing News)
He also suggested that administrative procedures, investment procedures, and business procedures should be simplified to be as convenient and quick as possible, so as not to waste businesses' time.
