(VOVworld)- Vietnam expects to attract more Foreign Direct Investment (FDI) in 2016 following the signing of multiple new-generation free trade agreements, especially the Trans Pacific Partnership Agreement. According to the Foreign Investment Department of the Ministry of Planning and Investment, Vietnam attracted 1.3 billion USD worth of FDI by January, doubling last year’s figure. Experts say Vietnam has favorable conditions to become a strategic investment destination. Vietnam is integrating with 55 economies with 90% of taxes cutting down to 0%. Economist Vo Tri Thanh says it’s necessary to focus on resource technological transferring, improving the value chains and strengthening management capacity: “Vietnam needs to bring into play its competitive edge, mobilize more resources, technology, and skills. It’s also important to promote the development of small and medium sized enterprises”.