The Vietnamese Ministry of Planning and Investment will create all possible conditions for foreign investors, including those from France, to operate effectively and sustainably in Vietnam, Deputy Minister Nguyen Thi Bich Ngoc has affirmed.
The Vietnam-Japan Joint Initiative has significantly contributed to improving the domestic business environment and raising Vietnam’s competitiveness in foreign direct investment attraction, said the Vietnamese Ministry of Planning and Investment.
Although the world economic situation was not so bright in 2022, foreign direct investment (FDI) capital flowed strongly to the Southeast region, with HCMC and Binh Duong leading with US$3.94 billion and $3.14 billion respectively.
As of August 20, 2022, total newly registered and adjusted capitals together with capital contributions and share purchases by foreign investors neared US$16.8 billion in the first eight months of this year, equivalent to 87.7 percent of the same period last year.
According to research by Savills Vietnam, Vietnam's industrial production in the first two months of 2022 increased by 8.4 percent over the same period last year. The growth rate improved sharply in February compared to the previous month.
Vietnam is assessed to have plenty of room to compete for foreign direct investment (FDI) against major competitors in the current global production shift, said Nguyen Bich Lam, former Director General of the General Statistics Office.
Foreign investment inflows into Vietnam during the first nine months of this year rose 4.4 percent year-on-year to US$22.15 billion despite the impact of Covid-19, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
Foreign investors still have high expectations for Vietnam's investment environment despite facing many difficulties at the moment due to the Covid-19 pandemic. Currently, there are still many solutions and ways to improve foreign investment attraction and prepare conditions to be ready to welcome the investment wave in the new normal.
Positive signs of investment inflows have been seen during meetings between National Assembly Chairman Vuong Dinh Hue and executives from many big European firms on the occasion of Hue's working visit to the European Parliament and a number of European countries from September 5-11.
According to the Foreign Investment Agency under the Ministry of Planning and Investment, the total newly-registered and adjusted capital, capital contribution, and share purchases of foreign direct investment enterprises from the beginning of this year to March 20 hit US$10.13 billion, up 18.5 percent over the same period last year.
Mr. Nguyen Thanh Phong, Member of the Party Central Committee, Deputy Secretary of HCMC Party Committee, Chairman of the city People's Committee, on the afternoon of March 4, chaired the conference to approve the contents to implement the tasks in 2021 of the Department of Planning and Investment of HCMC.
The 13th National Party Congress took place at the end of January 2021. It has determined the development goals in the next five and ten years with a vision to 2045, aiming at turning Vietnam into a developed country with high income. The will of the Party and the State is also the aspiration of each citizen. Therefore, striving for fast and sustainable growth to avoid moving backward further and overcoming the middle-income trap are critical issues, requiring the arousal of self-reliance and endogenous strength to achieve the set goals.
The People's Committee of Binh Duong Province has just announced that foreign direct investment (FDI) attraction in the province will reach more than US$1.85 billion this year, 31.8 percent higher than the plan.
In recent months, the Covid-19 pandemic has caused many difficulties for enterprises in Binh Duong Province, including foreign direct investment (FDI) enterprises. However, many businesses have dynamically overcome difficulties to retain workers and partners around the world.
The Government has just promulgated regulations on selective foreign direct investment attraction for nearly three years, but Dong Nai Province has been ahead of the whole country in carrying out this policy for more than ten years. Therefore, the province’s FDI capital invested in the supporting industries is among the highest across the country and is considered as the capital of the supporting industries by many enterprises.
In 59 provinces and cities having FDI projects in the first nine months of 2019, Hanoi attracted most investment with registered capital reaching US$6.15 billion accounting for 23.5 percent of the country’s total, followed by HCMC with $4.52 billion and Binh Duong with $2.52 billion.
Foreign Direct Investment (FDI) attraction to industrial parks and export processing zones in HCMC has slowed down as businesses have blamed the issue of the downgraded infrastructure systems in the zones and surrounding areas.