Vietnam will create a more atractive for foreign investors
Ha Noi, March 15 (VNA) -- Deputy Prime Minister Nguyen Tan Dung has affirmed the Vietnamese government would try to remove all difficulties and obstacles to make Viet Nam a more attractive and successful place for foreign investors.
At a conference titled, "Heading to Success - Viet Nam, the destination of investors" organized in Singapore by the Viet Nam Ministry of Planning and Investment on March 15, the Deputy Prime Minister stressed the Viet Nam Government would carry out positive and effective solutions to make the investment environment in Viet Nam more attractive and more competitive.
He said the Vietnamese Government knew that objective factors including the regional economic crisis and growing regional competition in attracting foreign investment were the main reasons for the decrease of foreign investment in Viet Nam over recent years.
However, the weakness of Viet Nam's investment environment was another factor.
Therefore, he said, during recent years, the Vietmanese Government had taken measures to further improve the economic and legal environment and together with foreign investors remove obstacles for businesses.
Dung reiterated that the Vietnamese Government had always paid attention to and exchanged experience of success as well as loss with foreign-invested enterprises.
Since Viet Nam promulgated the Foreign Investment Law in 1987, more than 3,260 foreign-direct-investment projects with a total registered investment capital of USD 44 billion have been licensed. They include 2,600 valid projects with a total registered capital of USD 36 billion. Almost USD 20 billion or 44.5 percent of the total registered capital has been disbursed, including USD 18 billion as foreign investment.
In recent years, the FDI sector's contributions made up more than 12 percent of the country's GDP, more than 34 percent of its industrial production value, and almost 7 percent of the State budget revenue.
FDI projects employ 350,000 workers. Through FDI project Viet Nam has accessed modern technology, gained managerial experience and created several new industries.
The conference - considered the biggest event yet organised by Viet Nam abroad to promote investment - was attended by Singapore's acting Trade and Industry Ministry Seter Chen and 150 representatives from foreign companies and international organisations.--VNA
