The Foreign Investment Agency under the Ministry of Planning and Investment has recently announced that between the start of the year and May 20, 2023, the total registered foreign investment capital in Vietnam reached US$10.86 billion.
Investment in sectors related to green growth has been on the rise, but it is necessary to devise practical incentives to help businesses effectively adopt green production and business practices, an official has said.
All problems can be solved with trust, sharing, listening, understanding, companionship, stated PM Pham Minh Chinh on April 22 while a meeting with foreign investors to listen to their opinions, seek measures to remove difficulties facing them.
Although Vietnam always eyes to attract investors from US, Europe, intra-ASEAN investors are so important to the country, especially since FDI is slowing down globally due to the pandemic’s impacts and geopolitical conflicts.
To attract more foreign direct investment (FDI), Vietnam needs to pay attention to training high-quality human resources, accelerating administrate reform and developing and upgrading infrastructure, according to the EuroCham.
Ho Chi Minh City (HCMC) licensed 807 foreign invested projects worth US$3.54 billion in the first 11 months of this year, up 3.3 percent in value from a year earlier, according to the General Statistics Office.
The ASEAN+3 Macroeconomic Research Office (AMRO) has joined many international organizations in revising Vietnam’s GDP growth this year thanks to the country’s strong performance since early this year and success in containing inflation.
Ho Chi Minh City attracted US$2.97 billion in foreign direct investment (FDI) this year to September 20, a year-on-year increase of 26.1 percent, according to the municipal Department of Planning and Investment.
Vietnam has a “golden chance” to attract a new wave of foreign investment, especially to economic zones (EZs) and industrial parks (IPs), according to Deputy Minister of Planning and Investment Tran Quoc Phuong.
As the global economy is experiencing severe instability, Vietnam is advised to find ways to minimize its dependance on imported materials while diversifying material purchase sources and trying to buy from domestic producers instead.