|
Work underway to promote overseas investment
Vietnamese businesses currently have 317 investment projects operating in 35 countries and territories, mostly in Asia , with total registered capital of 2.5 billion USD.
Their capital channeling overseas is estimated to hit 500 million USD in 2008, 20 percent higher than that of 2007.
The outbound investment of Vietnamese businesses is forecast to rise steadily at the annual rate of 20 percent until 2010 thanks to the improved procedures and a new legal framework.
To reach those goals, the Ministry of Planning and Investment (MPI) is streamlining administrative to give businesses more flexibility in overseas investment.
Agencies in charge of the work at various levels will be empowered to issue investment licenses, instead of the sole Department of Overseas Investment (DOI).
Additionally, a project to “assist and encourage Vietnamese businesses to make overseas investment” will be submitted to the PM for approval.
Under the project, the MPI recommends the State encourage and assist businesses to invest in certain strategic markets such as Laos, Cambodia and Russia and key sectors, including oil, power generation and mining.
At present, negotiation work is underway to carry out agreements on double taxation avoidance, investment encouragement and protection with a view to creating good conditions for businesses’ overseas investment, an MPI official said.
VNA
|
