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Official Gazette

Wednesday, October 24, 2018

Foreign investment attraction starts with how to make existing large investors invest more

Updated: 10:41’ - 24/07/2014

At a recent workshop on foreign investment attraction and foreign investment capital use improvement, Professor Nguyen Mai, chairman of the Vietnam Association of Foreign-Invested Enterprises (VAFIE), suggested that the best method of foreign investment attraction was creating more favorable conditions for businesses operating in the country to make more intensive investment through new projects.

In his opinion, incentives would be given not only to certain sectors and fields but also to certain territorial regions and special incentives should be given to large-sized foreign investment projects with high added value and spillover effects in their products or business lines.

Other participants’ suggestions were to encourage industrial projects to shift from outsourcing to production; select large and prestigious investors to invest in developing the financial market whilst simultaneously paying attention to small- and medium-scale projects.

Planning and Investment Deputy Minister Nguyen Van Trung said the ministry pledged to revise soon policies and mechanisms to facilitate first of all investment projects on infrastructure system and support industries, and urged local administrations to further simplify licensing and post-licensing supervision procedures, especially those concerning environmental protection of industrial park projects, taking into account foreign investment attraction policies while working out local socio-economic development plans.

Director of the Foreign Investment Agency of the Planning and Investment Ministry Do Nhat Hoang affirmed that the ministry would coordinate with related agencies in effectively implementing Resolution No. 103/CP of August 29, 2013, with a view to translating orientations and measures into specific policy and administration method adjustments favorable to foreign investment in the next two years.-


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