Vietnam has over the past 25 years attracted nearly $211 billion from
foreign investors for 14,500 projects, the Ministry of Planning and Investment
(MPI) reported at a conference reviewing 25 years of FDI attraction in Hanoi on
March 27.
“Attracting foreign investment is
a right policy as it has contributed greatly to realising many important
socio-economic development goals in the country,” Prime Minister Nguyen Tan
Dung said at the conference.
MPI reported that by the end of
February, 2013, nearly $100 billion of the registered $211 billion foreign
investment was disbursed.
The foreign financial source has
by now accounted for 25 per cent of total social investment in Vietnam and
contributed to over 60 percent of the country’s total export value in 2012.
Foreign invested enterprises gave
$14.2 billion during 2001-2010 and nearly $3.7 billion in 2012 alone, to the
State budget, the Ministry reported.
Through foreign-invested
projects, modern technology, equipment, expertise and management experience
have been transferred into the country and direct and indirect jobs have been
generated for 5 to 6 million workers.
The foreign invested sector has
through the years grown robustly to become an important component of the
national economy, PM Dung said.
The sector was encouraged to
develop in a stable, long-term manner and on an equal footing with other
economic sectors, thus joining in utilising the country’s internal strength and
comparative advantages to make economic restructuring move actively, Dung
stressed.
“Vietnam has been increasingly
favoured by foreign investors and businesses,” he noted.
However, the foreign invested
sector has exposed defects needing uniform and overall solutions, the
Government leader said.
He referred to the significant
imbalance in foreign investment injected in various sectors, slow investment
disbursement, and low content of high technology and new technology in invested
projects.
To address these problems, “the
Vietnamese Party, State and Government continue improving drastically the
country’s investment environment to draw in more foreign investment and use the
capital source efficiently,” Dung stated.
He pledged that market mechanism
will continuously be perfected, administrative procedures as well as financial
and banking systems reformed, and human resources training and socio-economic
infrastructure improved.
He asked the ministries, sectors
and localities to join by adopting generous incentives for large-scale socio-economic
infrastructure projects, which are able to produce enormous, positive impacts
on the country’s socio-economic growth, and taking strong moves to invite
foreign investors to projects applying the Public-Private Partnership form.
The ministries, sectors and
localities are instructed to supplement regulations on hi-tech business
criterion, mechanisms to develop the supporting industry and capital and
financial markets, and environmental protection standards.
Foreign investors are encouraged
to work with local universities and colleges to train high-quality workforce
for the nation.
Approved socio-economic
infrastructure planning schemes will be made public to enable foreign investors
to have wider access to planning information to serve their project
establishment, PM Dung said.
Future investment promotion
activities need to be coordinated on a national scale to prevent unhealthy
competition among localities, he requested.
MPI affirmed that increasing the
quality, not the quantity, of foreign investment will be a prevailing trend in
future foreign investment promotion.
QĐND
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