Foreign investment: Adjusting capital flows Economic experts say that although the results of attracting FDI capital in recent times are very positive, they are very […]
Economic experts believe that although the recent results of attracting FDI capital are very positive, they still need to be researched and analyzed to find ways to improve the situation. High efficiency in the future...
According to the Ministry of Planning and Investment, the process and results of attracting and using foreign investment capital in recent times have met most of the goals that Vietnam set for this economic sector. Besides, time is enough to learn lessons.
Up to now, Vietnam has become a middle-income country, from which it is necessary to have policies and orientations to attract foreign investment according to higher requirements, in accordance with the new level of development as well as the ability to receive investment capital.
Since then, the Government, the Ministry of Planning and Investment and localities have agreed on changing the way of looking at and "grading" foreign investment projects. That is from mainly "inclining" to quantity, not requiring high technology, environmental protection, energy consumption indicators, project implementation area... to the criterion "for quality".
That allows local authorities to raise the bar, aiming for projects with the top priority criteria of being modern, creating products with high added value, participating in the global value chain and exporting; consumes less energy…
From such an orientation, Vietnam will benefit more from the foreign investment sector, directing this capital flow to necessary fields and contributing to improving the competitiveness of the economy.
Of course, the foreign investment sector always plays the role of a funding channel for the economy, directly participating in structural transformation in a direction consistent with the requirements as well as the level of development throughout the process of international economic integration.
According to Minister of Planning and Investment Bui Quang Vinh, to improve the quality of foreign investment activities, the Government has been building and perfecting the legal system on investment and business, and guidelines to specify and create favorable conditions for foreign investors.
In particular, the Government recognizes the interest of a number of investors participating in projects to develop infrastructure systems such as seaports, airports, railways, roads... and the need for capital with these items (about 20-30 billion USD in the period from now to 2020) with dozens of large projects. This will be an attractive list that can progress to investment in the form of public-private partnerships, which is a new, open and encouraged form in the future.
The Government is also more proactive in inviting projects in the field of supporting industries, in order to gradually increase the speed of forming a chain of production facilities for components and details to supply factories assembling finished products.
At the same time, the Government will focus on "calling" a number of transnational economic corporations (TNCs) - which have outstanding strengths in technology and capital, to participate in important and widespread projects at the regional and regional levels to promote the process of economic restructuring in the areas.
According to economic expert Nguyen Mai, "calling" TNCs has great and long-term significance for the economy. International experience shows that some economies have grown rapidly by attracting TNCs. In Vietnam, since Samsung Group invested, mobile phone production has created tens of thousands of jobs and export turnover of more than 20 billion USD/year.
On the other hand, "domestic" businesses will find the motivation to strive to be capable of becoming component suppliers for foreign invested businesses instead of having to import from third countries, causing waste. Therefore, benefits will increase and "domestic" businesses will have more opportunities to adopt new technology applications and penetrate deeper into the global value chain.
Foreign investors highly appreciate and want to choose Vietnam as the project implementation location because of its political stability and strategic geographical location convenient for production and export.
Currently, experts recommend that competent authorities soon issue legal documents to regulate and uniformly manage investment promotion activities across the country. At the same time, develop an investment promotion strategy and consider establishing an overall coordination agency for national-level promotion activities...
According to Hanoi Moi Newspaper
Procedures
