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What does Vietnam need to do to attract foreign investment (FDI) after the epidemic?

On May 22, Prime Minister Nguyen Xuan Phuc chaired a Standing Committee of the Government with the participation of leaders of a number of ministries and branches of provinces and cities attracting FDI and economic experts. attract foreign direct investment (FDI) The main theme of the meeting was to focus on solutions to attract foreign investment to cope with global challenges caused by Covid-19.

Opinions of economic experts Economic experts believe that the 4 areas that corporations will tend to move into our country are:

Information Technology and High Technology
Electronic device
E-commerce and logistics
Consumer and retail goods

According to the experience of countries in the world, to "catch" this trend, they focus on using measures such as supporting businesses and investors in tax and land; measures on investment promotion; measures to prevent supply chain disruption; labor shortage response measures. On the investor side, they want the policy to be consistent and stable, leaders at all levels comply with commitments and make decisions and decisions more quickly. However, from economists' point of view, our investment climate and human resources matter. Reports of localities According to some local reports, the last time There are many investors and corporations coming to approach, learn about investment opportunities or expand investment projects. They are always in the position of preparing clean ground for investors to be able to hand over immediately when required, especially industrial zones. Proposal of Ministry of Planning and Investment The Ministry of Planning and Investment said that we need to prioritize the selection of moving projects in industries with advanced technology, innovation, high added value, clean energy ... In fact, major investors have continuously invested in expanding and implementing new projects in Vietnam. We have many opportunities to anticipate the investment capital flow to reposition the production of multinational companies, which is a potential destination in the supply diversification policy. attract foreign direct investment (FDI)

The Prime Minister emphasized, this meeting will focusing on practical and specific measures to take advantage of investment flows into Vietnam, with a focus on large, high-tech multinational corporations, leading the supply chains. The Prime Minister stated, ours new thinking, more proactive, faster. In particular, in order to attract investment like today, if our country cannot have a complete infrastructure, a complete mechanism, we must make our advantage heavier, and do better! Specifically, branches and localities must catch and catch this new investment. "We have to think about what investors need to discuss, cooperate and meet exactly what they need to develop successfully, bringing benefits to both sides." The Prime Minister requested branches and localities to formulate immediately a scheme for the Prime Minister's general guidance in the spirit of being faster and stronger and clearer. In particular, the project must address investors' bottlenecks such as space and human resources. Also in the meeting, the Prime Minister agreed to establish special working group to promote investment, to reach out to corporations having policies to shift investment flows. This will be chaired by the Minister of Planning and Investment and lead a number of agencies. Where any project is located, it will be added to its component to quickly solve the procedures and needs set by the investor. On the media side, the Prime Minister also paid close attention to: Vietnam media should be focused as an attractive destination for investors and visitors. The Government, localities, branches, create all favorable conditions on production premises, necessary and attractive incentives, supporting the settlement of administrative procedures and human resources. Perform post inspection. In addition to attracting high-tech and high-value foreign investment, we must continue to create conditions for all economic sectors, especially the private sector, to invest and do business in Vietnam. attract foreign direct investment (FDI) Concluding the meeting, the Prime Minister stated that if Vietnam does not invest in development, including domestic investment and foreign investment, it will never succeed. We have successfully combated the COVID-19 epidemic but initially had to worry about developing the country to achieve a double victory.