What does Vietnam need to do to attract foreign investment (FDI) after the epidemic?

On May 22, Prime Minister Nguyen Xuan Phuc chaired a Standing Committee of the Government with the participation of leaders of a number of ministries and branches of provinces and cities attracting FDI and economic experts. attract foreign direct investment (FDI)

The main theme of the meeting was to focus on solutions to attract foreign investment to cope with global challenges caused by Covid-19.

The situation and prospects of attracting foreign investment of our country today

Opinions of economic experts

Economic experts believe that the 4 areas that corporations will tend to move into our country are:

  1. Information Technology and High Technology
  2. Electronic device
  3. E-commerce and logistics
  4. Consumer and retail goods

According to the experience of countries in the world, to "catch" this trend, they focus on using measures such as supporting businesses and investors in tax and land; measures on investment promotion; measures to prevent supply chain disruption; labor shortage response measures.

On the investor side, they expect the policy to be consistent, stable, leaders of all levels to comply with commitments and make decisions and decisions more quickly. However, from the point of view of our economists, our investment environment and human resources matter.

Reports of localities

According to some local reports, the last time There are many investors and corporations coming to approach, learn about investment opportunities or expand investment projects. They are always in the position of preparing clean ground for investors to be able to hand over immediately when required, especially industrial zones.

Proposal of Ministry of Planning and Investment

The Ministry of Planning and Investment said that we should prioritize the selection of transfer projects in the sectors with advanced technologies, innovation, high added value, clean energy ... Because in reality In fact, major investors have continuously expanded and implemented new projects in Vietnam. We have many opportunities to anticipate investment flows to reposition production of multinational companies, which is a potential destination in the policy of supply diversification. attract foreign direct investment (FDI)

Policy of the Government

The Prime Minister emphasized, this meeting will focusing on practical and specific measures to take advantage of investment flows into Vietnam, with a focus on large, high-tech multinational corporations, leading the supply chains.

The Prime Minister stated, ours new thinking, more proactive, faster. In particular, to attract investment as today, if our country can not have a complete infrastructure, a complete mechanism, it must make our advantages more weight, and must do better!

Specifically, branches and localities must catch and catch this new investment. "We have to think about what investors need to discuss, cooperate and meet exactly what they need to develop successfully, bringing benefits to both sides."

The Prime Minister requested branches and localities to formulate immediately a scheme for the Prime Minister's general guidance in the spirit of being faster and stronger and clearer. In particular, the project must address investors' bottlenecks such as space and human resources.

Also in the meeting, the Prime Minister agreed to establish special working group to promote investment, to reach out to corporations having policies to shift investment flows. This will be chaired by the Minister of Planning and Investment and lead a number of agencies. Where any project is located, it will be added to its component to quickly solve the procedures and needs set by the investor.

On the media side, the Prime Minister also paid close attention to: Vietnam media should be focused as an attractive destination for investors and visitors. The Government, localities, branches, create all favorable conditions on production premises, necessary and attractive incentives, supporting the settlement of administrative procedures and human resources. Perform post inspection.

In addition to attracting high-tech and high-value foreign investment, we must continue to create conditions for all economic sectors, especially the private sector, to invest and do business in Vietnam. attract foreign direct investment (FDI)

Concluding the meeting, the Prime Minister stated that if Vietnam does not invest in development, including domestic investment and foreign investment, it will never succeed. We have successfully combated the COVID-19 epidemic but initially had to worry about developing the country to achieve a double victory.

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