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Resolution ensures FDI hegemony (27/9)
27/09/2013 - 17 Lượt xem
Under
the principle that FDI is a crucial resource and essential part of the
economy that must be encouraged over the long run, Resolution 103/NQ-CP
stipulated that FDI and domestic resources will together create a joint
strength to help Vietnam reach its targets of modernization,
industrialization and economic restructuring. FDI attraction will be
achieved by 1) encouraging high quality projects, projects with a high
added value and high technology, and environmentally friendly projects;
2) promoting large-scale projects producing competitive products that
join transnational groups’ value chains, 3) strengthening connectivity
between FDI and domestic businesses, and 4) developing appropriate FDI
attraction plans that ensure national benefits and economic
restructuring according to the new growth model.
The
resolution refers to five solutions for FDI attraction and efficiency
improvement: 1) improving the legal framework; 2) revising a number of
investment management and authorization principles; 3) improving
criteria for investment licensing; 4) revamping investment promotion;
and 5) strengthening investment inspection and supervision.
| As of the end of August, there were 15,198 FDI projects totaling US$220.664 billion in registered capital in Vietnam. FDI currently accounts for 23.3 percent of all investment capital in Vietnam, while the FDI sector represents 64 percent of Vietnam’s import and export value and provides more than two million direct jobs and about four million indirect jobs. |
According
to the resolution, FDI-related laws will be improved to increase
investor’s confidence and the investment environment’s competitiveness
and activate investment licensing authorities’ responsibilities and
creativity.
The
resolution says that investment promotion will adapt to and follow
national socioeconomic targets and be managed by local to central-level
authorities. Changes to investment promotion are not only aimed at
improving efficiency but also solving other related problems highlighted
in a seminar reviewing 25 years of FDI in March of this year.
Former
Director of the Ministry of Planning and Investment’s Foreign
Investment Agency (FIA) Phan Huu Thang said the resolution clearly
understands the problems in attracting FDI over the past 25 years and
introduces solutions to deal with these problems in the coming time; the
resolution expresses the prime minister’s determination to improve FDI
efficiency. Involvement of organizations, ministries, sectors and
localities is imperative./.
Source: VEN
Source: VEN
