Review conference for 25-year FDI attraction set for Oct
Dak Nong hosts investment promotion event
HCMC – The Ministry of Planning and Investment will hold a conference in the middle of October to review foreign direct investment (FDI) attraction in Vietnam over the last 25 years.
Prime Minister Nguyen Tan Dung has approved a proposal on convening this conference, assigning the planning ministry to coordinate with relevant agencies and localities to prepare for the event, according to the Government web portal.
A report of the planning ministry shows that from 1988 to 2011, the total registered capital of more than 13,400 valid FDI projects was US$195.9 billion, in which VND88.2 billion, or 43.2%, had been realized.
FDI has a positive impact on the socio-economic development of Vietnam. The contribution of FDI projects accounts for more than 50% of the total export turnover every year.
The FDI sector has created direct jobs for two million people and indirect ones for hundreds of thousands of others. According to the Foreign Investment Agency, in 2012, Vietnam focuses on luring FDI into the fields of infrastructure, green industry and joining the global production network and value chain.
* Dak Nong’s government on Wednesday organized an investment promotion conference with the participation of 200 local and foreign investors and leaders of 20 cities and provinces, says a Vietnam News Agency report.
At the event, leaders of Dak Nong introduced the potentials of the province and its preferential policy for investors. In addition, the province offered investors 92 projects to choose from, with a total capital demand of nearly VND10 trillion.
Participating enterprises suggested the provincial government should provide investors with more attractive incentives, such as assisting them in site clearance, borrowing capital and training laborers. Moreover, investors require simplified administrative procedures and sufficient and accurate information so that they can save time and money.
Dak Nong vice chairman Nguyen Bon told the conference that the province now focuses on traffic infrastructure development, from national highways to inter-village roads, and considers this the top priority in its strategy for socio-economic development.
The province government committed to create favorable conditions for investors to carry out their projects.
At the event on Wednesday, Dak Nong’s government also granted investment certificates to local and foreign investors and signed investment deals with businesses.