Directive No. 1617/CT-TTg: FDI management urged to be rectified

In order to further enhance the implementation of Resolution No. 13/NQ-CP of April 7, 2009, on orientations for and solutions to attracting and managing foreign direct investment (FDI), the Prime Minister issued on September 19 Directive No. 1617/CT-TTg, on rectifying the FDI management during 2011-2020.

Accordingly, environmentally friendly and technologically modern projects will be eligible for investment incentives while non-productive investment ones will be subject to restrictions.

Projects which wastefully consume energy and natural resources, apply obsolete technologies or cause environmental pollution will not be granted investment licenses.

The Directive also sets forth some main solutions to rectifying FDI management, namely: establishing preferential investment policies in accordance with 2011-2020 orientations for FDI attraction; improving quality and efficiency of planning activities from planning elaboration, appraisal and approval to management stage; seeking measures to increase effectiveness of the foreign investment management grading system; and raising the efficiency of the foreign investment source management, etc.

It also introduces several schemes which the Prime Minister requests ministries, ministerial-level agencies and provincial-level People’s Committees to comprehend and carry out in order to attract more foreign investment capital and efficiently utilize investments in each field.-

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