At the online conference of the Prime Minister with enterprises of the whole country, Prime Minister Nguyen Xuan Phuc pointed out that attracting foreign direct investment (FDI) is one of the five "frontiers of the public to revive the economy””.
Transport infrastructure, complete and synchronous industrial infrastructure is one of the advantages for Binh Duong to strongly attract FDI. In the photo: A corner of VSIP I Industrial Park
Signs of recovery
At this conference, Minister of Planning and Investment Nguyen Chi Dung said that, despite the negative impact of the Covid-19 pandemic, in the first 4 months of 2020, Vietnam attracted about US $ 12.33 billion of capital. FDI, equal to 84.5% over the same period in 2019; disbursed 5.15 billion USD, equaling 90.4% over the same period last year. Foreign investment activities in Vietnam are continuing to change positively, reflected in a number of moves. Firstly, in April alone, Vietnam attracted an additional $ 3.78 billion in new capital, which is approximately the same period last year, but increased by more than 81% compared to March, which is a sign for see a quick recovery in this important area. Next, in terms of newly attracted capital structure, the adjusted capital increased by 45.6% over the same period in 2019, the newly registered capital also increased by 26.9%,
There has been a wave of investment movement in the world, in which Vietnam has emerged as a reliable destination. Up to now, many signs show that traditional investors such as Japan, South Korea, big investors of the US and Europe are interested in Vietnam market thanks to the advantages of political stability and market. large schools, a young population structure, deep integration, stable economic growth, reasonable costs, competition, and a favorable position for international trade, plus Vietnam's good handling of anti-epidemic Covid-19. Opportunities open, but will attract selective FDI in the spirit of the Politburo's Resolution 50-NQ / PR dated August 20, 2019 on the direction of institutional improvement, policies, quality improvement, effectiveness of foreign investment cooperation to 2030.
Investors trust
According to Mr. Nicolas Audier, President of the European Association of Enterprises in Vietnam (EuroCham), strong measures in the prevention and control of the Covid-19 epidemic have helped Vietnam maintain a good record of economic growth. as well as increasing the source of foreign direct investment, while protecting the health and welfare of all people. The European business community considers Vietnam a safe, attractive, competitive and business destination. In addition, Vietnam is also a promising investment destination in Asia after the Government's efforts to reform the business investment environment and open the door of integration in recent years.
In Binh Duong, from the beginning of the year until now, has attracted 288.6 million US dollars, down 61.8% over the same period. However, the majority of FDI enterprises in Binh Duong still commit to continue expanding production and business in the coming years. Mr. Cho Gyu Sik, Deputy General Director of Kumho Vietnam Co., Ltd. in Binh Duong affirmed that, when Vietnam in general, Binh Duong in particular had good control and could overcome the pandemic with minimal losses, then the FDI will continue to pour into Vietnam, of which Binh Duong has many advantages.
According to leaders of the Ministry of Planning and Investment, in order to attract FDI effectively, in the immediate future, localities and businesses need to make good use of opportunities from Free Trade Agreements such as the Comprehensive and Progressive Partnership Agreement. Pacific (CPTPP), Vietnam - European Union Free Trade Agreement (EVFTA) etc. to attract investors. In particular, in the context that the Covid-19 epidemic is having global impacts, ministries, branches and localities have to prove to investors about their companion and side-by-side in difficulties by putting issuing timely adjustment policies on tax, land, and labor.
In order to attract FDI to develop in depth, Binh Duong is constantly improving the mechanism and policies to attract investment in line with the planning and development orientation of each industry and field, based on exploitation. Good advantages, typical of the province. Mr. Tran Thanh Liem, Chairman of the provincial People's Committee, emphasized that continuing to create a reliable and effective investment environment of Binh Duong in the current context is a serious implementation of the Government's opinion: Not because of the diseases that stagnate production and business. At the same time, it also contributes to make Binh Duong more and more attractive in the eyes of foreign investors.
Reported by Ngoc Thanh – Translated by Vi Bao
