30 years of Vietnam’s FDI attraction reviewed

(VOVWORLD) - More than 330 billion USD of FDI has been registered in Vietnam over the past 30 years, according to the Ministry of Planning and Investment. 
30 years of Vietnam’s FDI attraction reviewed - ảnh 1 A manufacturing system of the Samsung Electronics Vietnam Co. Ltd. in Thai Nguyen province (Photo: Danh Lam/VNA)

At a conference looking back at 30 years of attracting foreign direct investment (FDI) in Hanoi on Thursday, Minister of Planning and Investment Nguyen Chi Dung said FDI is important to Vietnam’s economy and over 180 billion USD of FDI has been disbursed in 30 year. Dung said: “FDI is crucial in shifting Vietnam’s economic structure and building spearhead industries like telecommunications, oil, electronics, chemicals, metals, information technology, leather, textiles, and agricultural product processing. FDI contributes to building new urban areas, expanding Vietnam’s global markets, balancing trade, boosting integration, and elevating Vietnam’s status on the world stage.” 

Tomaso Andreatta, Co-Chairman of the Vietnam Business Forum, said achievements in FDI attraction over the last 30 years are an endorsement of Party and State policies: “This has been made possible by an unique combination of the culture of the Vietnamese people who are especially willing to learn and improve, are motivated, and ambitious, and the government which has ensured economic and social stability and friendship with all the countries of the world over the 3 decades that passed since the approval of the FDI law.”

30 years of Vietnam’s FDI attraction reviewed - ảnh 2A charging cable producing chain of the Korean KSD Vina Co. Ltd. (Photo: Danh Lam/VNA)

Prime Minister Nguyen Xuan Phuc praises FDI’s role in Vietnam’s economic development and called for a comprehensive plan to attract more FDI in the future.

“Vietnam consistently implements a foreign investment cooperation policy and considers FDI an important part of the economy. The government calls on ministries and agencies to maintain a stable political environment and macro-economy, boost infrastructure, and build laws in line with international commitments, particularly new generation FTAs. We must support the cooperation of domestic enterprises with foreign companies and make sure that FDI companies which receive preferential treatment are productive", said the Prime Minister

Prime Minister Phuc said a new government decree on FDI attraction until 2030 will be finalized soon.

Related News