Vietnamlawmagazine

Vietnam should continue to improve policies for foreign direct investment (FDI), said Minister of Planning and Investment Bui Quang Vinh at a conference on March 15 in Hanoi.

Altering and managing FDI capital sources would be a critical part of restructuring the domestic economy and aiming at efficiency, productivity and quality, he said.

Duangdej Yuaikawam-dee, an official from Reed Tradex Co (an ASEAN exhibition organizer) said the Government should consider investments more carefully and consider the country’s advantage of low cost.

“Vietnam should be cautious in selecting FDI projects and have suitable policies to attract quality FDI inflows,” he said.

Conference participants said the Government should create a more transparent, even-handed and efficient business environment and improve administrative procedures to attract more investors.

They agreed that in the long term, ministries, sectors, localities and business communities should boost cooperation in every investment phase to ensure a competitive investment environment and maximize the efficiency of FDI inflows.

The Ministry of Planning and Investment said it was drafting a new document to revise Government Decree No 108/2006/ND-CP issued in 2006, which guided the Investment Law.-