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VN ready to welcome FDI waves in H2

VGP – Viet Nam has fundamentally achieved the ‘dual’ goals of controlling the Covid-19 pandemic and spurring economic growth in a reasonable manner. All activities have fully returned to normalcy, said Minister of Planning and Investment Nguyen Chi Dung.

07/02/2020 15:16

Minister of Planning and Investment Nguyen Chi Dung

Minister Dung raised a series of measures to resolve public investment obstacles; boost FDI attraction; enable organic farming as Viet Nam has prepared adequate conditions to welcome new capital waves in the second half of 2020.

At a meeting between the Government and localities held today in Ha Noi, Minister Dung reported that in the January-June period, total sum of social investment disbursement was estimated at VND 850 trillion, representing a year-on-year growth of 3.4%, equivalent to 33% of GDP. 

The total amount of FDI disbursement was projected at US$ 8.65 billion, accounting for 95% of the same period last year. 

GDP growth rate stood at 1.81% in the first six months, which is the decade-low H1 growth but an encouraging figure as Viet Nam was one of a few countries enjoying positive growth rates. 

The Minister underlined the necessity to attach importance to economic recovery and growth under the spirit “fighting economic recession is like as fighting the enemy” in line with the motto earlier initiated by the PM “fighting the epidemic is like fighting the enemy.”

Ministries, sectors, and localities were asked to catch up with new trends in medium and long terms; optimize opportunities especially Viet Nam’s high status at the international area as a successful nation in tackling COVID-19. 

They were asked to optimize advantages in order to welcome new investment inflows in favor of national development; promote innovation; participate in new standards in global and regional economic administration. 

Minister Dung proposed reviewing requirements for land, infrastructure, and manpower in order to strengthen selective investment and supervise foreign investment./.

By Kim Anh