Positive outlook for Vietnam’s foreign investment attraction

Published by Administrator at 09:59, September 19, 2023

Vietnam’s foreign investment attraction will see a positive outlook in the coming time as efforts have been made to improve investors’ trust in the country, said director of the Ministry of Planning and Investment’s Foreign Investment Agency (FIA) Do Nhat Hoang. 

Besides political and social macroeconomic stability, Vietnam is making great efforts to improve its investment environment and continue to perfect three strategic breakthroughs of institutions, infrastructure, and human resources, he said.

Vietnam has also held policy dialogues, supported investors to overcome difficulties, and prepared conditions to welcome investors including land, energy, high-quality human resources, and supporting industries.

Hoang said that the most necessary thing for foreign direct investment (FDI) enterprises is human resources, adding Vietnam is developing training programmes to improve technical skills and labour productivity of human resources. In particular, the country is paying more attention to training based on the actual needs of enterprises.

Director of the Ministry of Planning and Investment’s Foreign Investment Agency (FIA) Do Nhat Hoang. (Photo: MPI)

“Many prestigious international organisations highly appreciate the results and prospects of Vietnam’s economic development,” Hoang said.

According to a survey conducted by the Japan Trade Promotion Organisation (JETRO) in 2022 with Japanese enterprises in Vietnam, 60% of the surveyed enterprises said they will expand their business in Vietnam in the next one or two years, the highest in ASEAN.

They also said Vietnam has the advantage of high growth potential, and businesses can increase revenue by expanding markets and increasing exports.

Meanwhile, according to a survey in January 2023 on the business environment of the European Chamber of Commerce in Vietnam (EuroCham), Vietnam is among the top five investment destinations globally. 

Recently, in the World Happiness Report, Vietnam rose 12 places, ranking 65 out of the 137 countries.

“These are obvious evidence for the support and trust of the business community in Vietnam in recent years,” Hoang said.

Notably, after reducing for months, Vietnam’s FDI attraction increased in July thanks to the Government’s timely flexible solutions to support businesses.

In the past seven months, some economic indicators got positive such as total newly registered capital, adjusted and contributed capital from foreign investors reached nearly 16.24 billion USD, up 4.5% over the same period in 2022. There were 1,627 new projects, up 75.5% over the same period, with the total registered capital reaching nearly 7.94 billion USD, up 38.6% over the same period.

Hoang said that Vietnam is aiming to attract investment selectively, and improve investment promotion in selected fields relating to the digital economy, green economy, innovation, and renewable energy.

He added that his office will coordinate with international organisations to select potential corporations with competent financial capacity, and modern management.

Source: Vietnamplus