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Investment promotion yielding positive results
Investment promotion activities have achieved encouraging results in advertising the investment environment in Vietnam as a safe and attractive destination that offers high competitiveness to foreign investors, said Deputy Minister of Planning and Investment Nguyen Chi Dung.
The Deputy Minister made the remark at a conference held on Oct. 10 in Ho Chi Minh City to review investment promotion work in the southern region.
Over the recent past, ministries, services and localities have organised a range of activities to encourage investment in Vietnam , markedly contributing to the attraction and effective use of foreign direct investment.
As a result, the flow of foreign direct investment (FDI) into Vietnam has increased sharply. The country attracted 18.5 billion USD in FDI in the 2001-05 period, more than 12 billion USD in 2006 and the figure surpassed 20 billion USD in 2007. During the first nine months of this year, the country attracted a record FDI total of more than 57 billion USD.
The conference discussed measures to overcome obstacles to increasing the effectiveness of investment promotion work.
Participants pointed to the lack of cooperation between localities and ministries and branches, the limited knowledge of the investment market and potential partners, and the shortage of officials to take charge of investment promotion activities.
They proposed a number of measures such as building detailed plans for each sector and regional as well as a list of projects calling for investment to facilitate investors. They also urged the completion of legal documents and policies regarding investment promotion and the development of a system providing detailed information for investors.
VNA
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