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Improve efficiency of attracting, using and managing foreign direct investment

 

12/09/2013 00:00

 

On 29/8/2013,Resolution No.103/NQ-CP regarding the orientation to improve efficiency of attracting,using and managing foreign direct investment (FDI) in thefuture was issued by the central government.

 

On 29/8/2013,Resolution No.103/NQ-CP regarding the orientation to improve efficiency of attracting,using and managing foreign direct investment (FDI) in thefuture was issued by the central government.

FDI hasmade a positive contribution to the achievement of growth and development in  Vietnam. As from June 2013, 15 067 projects were operating withtotal registered capital of around USD 218.8 billion, realized capital of aboutUSD 106.3 billion. FDI is animportant supplementary source of social capital, strengthening the productioncapacity of some industries, technological innovation, economic management,increased exports and structural change in exports. Furthermore, FDI also influences different sectors ofthe economy, stimulating domestic investment, economic structure transformation,state-owned enterprise restructure, administrative procedure reform and internationaleconomic integration is also enhanced. Through cooperation with foreigninvestors, Vietnamhas affirmed its political, external relations and partnership development withmany countries, regions and partners around the world.

However,attracting foreign investment in recent years has not achieved expected goalsin term of attracting high technology, source technology, supportiveindustries, investment in infrastructure development and technology transfer. The quality of FDI projects is not high, added valuecreated is low, investment in production chains of transnational corporationsis limited. The main reasons leadingto those limitations are inconsistent, overlapping legal system; issuance of investmentcertificates in certain cases does not comply the overall planning and the realityof infrastructure system..... Inorder to enhance the competitiveness of the investment environment in Vietnam, anumber of measures have been set out. Firstly, Improving legislation and policies relating to investment towardsconsistency, openness, transparency, predictability in order to support investorsand raise competitiveness compared to other countries in the region. Secondly,modifying principles of investment management and subdivision. Thirdly,revising criteria for issuing investment certificates. Lastly, renovatinginvestment promotion activities and finally, strengthening inspection andmonitoring investment activities.

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Website for Cooperation and Investment Promotion
Licence No. 65/GP-BC dated 17 March 2006 of the Directorate of Press (Ministry of Culture and Information)
Established by the Investment Promotion Center of Binh Dinh Province(IPC Binh Dinh)
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