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Prime Minister Nguyen Tan Dung introduced investment opportunities in Vietnam
29/07/2014 - 15:54

Prime Minister Nguyen Tan Dung introduced investment opportunities in Vietnam

Foreign direct investment (FDI) attraction is an important external economic activity of Vietnam. Not only possessing advantages and attractive investment environment, Vietnam is making efforts to continue the story of success in FDI attraction with a strong commitment to improve the business and investment environment, regarding FDI enterprises section as an integral part of the economy, at the same time, taking FDI as a decisive factor to re-structure the economy and raise the country’s competitiveness.

Vietnam recorded over 16,300 valid FDI projects worth some USD 238 billion as of April 2014.

About 100 countries and territories are running investment projects and over 100 world’s top multinational groups have come to Vietnam. In 2013, FDI inflow in Vietnam hit more than USD 22 billion, an increase of over 35% as compared with 2012.

These aforesaid figures have proved Vietnam has become an appealing destination for foreign investors.

There are many reasons for this success story.

Attractive investment environment

First, Vietnam has always been a country of political and social security. As one of the dynamic economies, the average growth rate of Vietnam reached around 7.5% in the period 1991-2010 and  5.6% in the period 2011-2013 in spite of facing huge difficulties. Many international organizations forecast Vietnam's GDP will gain higher growth in the period 2014-2015 and the years to come.

Second, Vietnam is now at the stage of Golden Population Structure with 60% of its population at working age. Vietnam also has favorable geographical position with its location in the heart of East Asia – home to a number of large and dynamic economies. Additionally, Vietnam is a market-orientated economy, member of WTO, and is concerned with many international economic association frameworks including FTAs with partners in and outside the region. Notably,  Vietnam has been actively involved in negotiations for the  Trans-Pacific Agreement (TPP). These are fundamental advantages to attract investors.

Third, the government of Vietnam is committed to creating a simplified, favorable and equal investment environment for foreign investors as well as constantly improving its legal and institutional framework for business and investment activities. Besides, Vietnamese has been deploying the roadmap of restructuring the economy and transforming the growth model with high concentration on  improving business and investment environment as well as enhancing the  national competitiveness.

The success story to be continued…

For the medium and long term, Vietnam targets to strongly attract and effectively use FDI to promote socio-economic development. Vietnam will prioritize "High quality" FDI inflows, these include high-end  and friendly-to-environment projects, effectively using natural resources, manufacturing products that could take advantages in the market, be capable of merging into the global production network and value chain.

To continue the story of success in FDI attraction, the Vietnamese government is committed to strongly improving the business and investment environment. Many synchronous solutions have been taken, in which the government has centered on the implementation of three “strategic breakthroughs” from now till 2020. These are completing the market economy institution and legal framework; building synchronous and modern infrastructure systems, especially transport infrastructure and developing high-quality human resources.

The Vietnamese government continues to strictly implement the international commitments as a member state; promote negotiations and contract of new-generation free trade agreements. Besides, in recognition of the success of FDI enterprises as its own success, the Vietnamese government pledges to ensure a stable socio- political environment, protect legitimate rights and interests of investors, as well as create every favorable condition for FDI enterprises in Vietnam.

As forecast by international organizations, along with the world economic recovery, FDI inflows are returning and increasing in dynamic economies. Given the positive prospects of the global and regional economy, we welcome foreign investors to choose Vietnam as an investment destination. We firmly believe that you will soon gain success in our country.

 

 

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