VN lures 33,000 FDI projects worth US$394 billion so far

According to MPI Deputy Minister Nguyen Thi Bich Ngoc, amidst the complicated evolution of the COVID-19 pandemic, Viet Nam has remained steadfast with proactive and effective solutions aiming to realize the dual goal of pandemic fight and economic development.

As a result, Viet Nam was one of the few countries in the world to have achieved positive growth in 2020 (2.91%) and the economy is expected to grow by 6.7% this year.

Although global FDI has yet to show signs of resumed growth, Viet Nam’s FDI attraction results in the Jan-Apr period are quite positive with a total registered capital of more than US$12 billion. Particularly, newly pledged FDI increased by 24.7% over the same period last year.

This is a very encouraging figure, affirming the efforts and determination of the Government and all-level authorities in drawing foreign investment, Nguyen said, adding that Viet Nam has established a working group on promoting foreign investment cooperation to support multinational corporations and large foreign companies to promptly grasp investment cooperation opportunities in Viet Nam.

A series of laws related to investment and business such as the revised Law on Investment, the amended Law on Enterprises, and the Law on Investment in Form of Public-Private Partnership (PPP), have been adopted with many new points towards simplifying investment procedures, diversifying investment forms, and adding special investment incentive mechanisms for large-scale projects that meet the criteria and make significant contributions to Viet Nam’s socio-economic development.

In addition, as a signatory of the Regional Comprehensive Economic Partnership (RCEP), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the EU-Viet Nam Free Trade Agreement (EVFTA) and other free trade agreements, Viet Nam has seized many advantages in accessing the free market of 55 countries, including 15 member states of the Group of 20 (G20).

By Vien Nhu