Breakthrough solutions needed to attract foreign investment The Vietnamese Government Portal hosted a discussion on September 4 on breakthrough actions and solutions to attract foreign investment. A report from the Ministry of Planning and Investment shows that as of August 20, the total flow of foreign direct investment (FDI) into Vietnam stood at 19.54 billion USD, equal to 86.3 percent of the figure in the same period last year. Of particular note, after difficulties at the beginning of the year, foreign investment has surged in recent months. Economists said that this is evidence of new flows coming into Vietnam, which is viewed as an exceedingly attractive destination with competitive advantages, participation in new-generation trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA), and effective COVID-19 prevention measures. Nguyen Van Toan, Vice Chairman of the Vietnam Association of Foreign-Invested Enterprises, advised businesses to take advantage of integration opportunities and intensify connectivity, as attracting high-quality FDI will bring about more opportunities for domestic companies. To attract more high-quality FDI, Nguyen Dinh Cung, former Director of the Central Institute for Economic Management (CIEM), said that unofficial costs are barriers and bottlenecks hampering… Read full this story
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