The Prime
Minister recently issued Decision 26/2012/QD-TTg providing guidelines
for constructing and implementing a national program for investment
promotion, which will take effect on July 25, 2012. The decision
is aimed at stimulating and improving investment promotion and creating
proper, effective connectivity between activities promoting domestic
investment, foreign investment in Vietnam and Vietnamese investment in
foreign countries and territories of every economic sector under a systematic program, and between investment promotion and trade, tourism and other industry promotion.
The national program for investment promotion will introduce and advertise the Vietnamese investment environment and the Vietnamese Communist Party's and State's investment promotion policies through the media inside and outside Vietnam, hold exhibitions on the Vietnamese investment environment inside and outside the country, construct investment promotion policy and strategy orientations through evaluating the actual investment environment and constructing lists of national
projects needing domestic and foreign investment, open seminars and
investment promotion programs, and provide training in investment
promotion.
Based on these information and their
actual conditions, localities and economic zone or industrial zone,
export processing zone or hi-tech park authorities will construct and
send yearly and long-term plans and projects on investment promotion to the Ministry of Planning and Investment. The ministry will build an annual national program for investment promotion using these data.
Would-be-chosen investment promotion projects/plans will be those suitable with socioeconomic development strategies and plans of the country, localities and economic zones, the economic and technological development plan and strategy approved by the Prime Minister, the Government's orientation on FDI attraction and Vietnamese investment abroad, the policy on investment source diversification and those encouraging non-state economic sectors to invest in projects suitable to common development orientations.
Investment
promotion projects/plans must encourage investment in vital industries
in accordance with investment attraction orientations for specific
periods. They must have concrete assessments of investment demands and analyze data and be feasible./.
Source: VEN.