The
Ministry of Planning and Investment (MPI) is working on a new strategy on
attracting foreign direct investment (FDI), with a significant shift in the
approach to the issue.
The strategy will focus on defining FDI’s role
in the country’s socio-economic development plan for the 2011-2015 and
2011-2020 periods. It will analyse strong and weak points of Vietnam ’s FDI
attraction policies as well as its business and investment environment.
Vietnam has reached a point where it needs to
be more selective in order to increase quality and sustainability of FDI flow,
said Do Nhat Hoang, head of the Ministry of Planning and Investment's Foreign
Investment Agency.
Hoang said priorities will be given to
public-private cooperation and areas such as production and manufacture, which
are expected to create high added values.
Sharing Hoang’s views, Tran Dinh Thien,
director of the Vietnam Institute of Economics, also underlined the need for
Vietnam to have a firm standpoint in FDI attraction, avoiding the spread of
priorities.
Vu Tien Loc, chairman of the Vietnam Chamber
of Commerce and Industry (VCCI) agreed that the new strategy needs to target
higher quality projects.
A survey conducted by the VCCI reveals that
only 13.5 per cent of FDI businesses are operating in the fields that bring
high added values, which, Loc said, is a worrying sign.
The draft strategy also places emphasis on
environmental protection to advance towards sustainable development. This will
be a fundamental criterion when considering licences to FDI projects.
According to Nguyen Duc Thang, MPI’s expert on
environment and sustainable development, on the reasons for Vietnam to be
dubbed a “paradise for investment” is its low standards on environmental
protection.
“If the situation continues, it will pose
great risks for the future,” Thang warned.
The Central Institute of Economic Management
in a recent report put stress on the need to promptly implement a number of
solutions to improve the quality of FDI flow, firstly changing the way of
thinking regards the attraction and utilisation of this source of capital.
vir.com.vn
Business & Investment Opportunities
YourVietnamExpert is a division of Saigon Business Corporation Pte Ltd, Incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Consulting, Investment and Management, focusing three main economic sectors: International PR; Healthcare & Wellness;and Tourism & Hospitality. We also propose Higher Education, as a bridge between educational structures and industries, by supporting international programs. Sign up with twitter to get news updates with @SaigonBusinessC. Thanks.
No comments:
Post a Comment