President of the Vietnam Chamber of Commerce and Industry Vu Tien Loc addressed the conference (Photo: Dinh Thieu/VOV)

Vu Tien Loc told an investment conference in Da Nang on Wednesday that due to the APEC event and the Leaders’ Meeting in Da Nang, foreign investment to Vietnam has sharply increased. Investors have shifted their money, mostly from China, to Vietnam.

Vietnam’s high-tech sectors with special added values are attractive to investors in the US and Europe. In Da Nang city, tourism and high-tech agriculture have become prioritized sectors.

Mr. Loc suggested Da Nang push ahead with administrative reform and create the best investment environment: “The administration should further improve the business environment. Businesses should raise themselves up to international standards to connect with global value chains. VCCI will work with Da Nang city and Associations to select, train, and assist businesses to partner with foreign investors. Besides 100% foreign investment projects, joint ventures in some sectors remains the key model.”