Vietnam’s success in the fight against COVID-19 and its overall stability have increased its competitiveness and resulted in positive outcomes in foreign direct investment (FDI) attraction since the start of the year, Director of the Foreign Investment Agency under the Ministry of Planning and Investment, Do Nhat Hoang, has said.
As of April 20, foreign investors had pumped 12.25 billion USD into Vietnam (Photo: VNA)
Hanoi (VNA) - Vietnam’s success in the fight against COVID-19 and its overall stabilityhave increased its competitiveness and resulted in positive outcomes in foreigndirect investment (FDI) attraction since the start of the year, Director of theForeign Investment Agency under the Ministry of Planning and Investment, DoNhat Hoang, has said.
Thecountry needs to further capitalise on its strengths, potential, and opportunitiesto absorb future investment, he added.
Vietnam clearlyexhibits stability in its macro-economic and political situations and boasts ahigh level of prestige in investment attraction, as the number of large-scale energyand processing-manufacturing projects applying high technology in key sectorshas been on the rise.
As of April20, foreign investors had pumped 12.25 billion USD into Vietnam this year,equal to 99.3 percent of the amount recorded in the same period last year.
Among the67 countries and territories with investment projects during the period,Singapore led with 4.8 billion USD, followed by Japan with more than 2.5billion USD and the Republic of Korea with 1.5 billion USD.
Thecountry is also working to attract projects from Europe and the US.
Variousincentives for FDI investors have been launched, along with opportunities broughtabout by new generation free trade agreements Vietnam has signed. TheGovernment has also exerted efforts in administrative reforms and in improving theinvestment climate.
Meanwhile,relevant agencies have been advised to call for investment from multinational corporationswith strengths in capital and technology, thus helping domestic companies accessmodern technologies and work with foreign counterparts in further joiningglobal value chains.
Localitiesmust revise their legal documents and investment policies to address any inconsistenciesand should take the initiative in choosing projects that match their own potentialand investment orientation.
Priorityshould be given to hi-tech, energy and space-saving, and environmentally-friendlyprojects./.
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As of April 20, foreign investors had pumped 12.25 billion USD into Vietnam (Photo: VNA) 
