Responding at the Government press conference on the evening of March 2 about breakthrough solutions to attract FDI capital to Vietnam's major projects, especially in technology, Deputy Minister of Planning and Investment Tran Quoc Phuong recalled that in the last 6 months of 2023, we have strongly recovered and achieved growth in attracting foreign investment. Vietnam is a very attractive destination . According to Mr. Phuong, there are many important reasons for this result. First is the political stability, security and macroeconomics in Vietnam. Second is the result of high-level diplomatic trips by our country's leaders and high-level diplomatic delegations of other countries to Vietnam, bringing very specific results in attracting foreign investment. Third, foreign investors see and evaluate the potential and prospects of Vietnam's economy in the coming years. They think that Vietnam is a very attractive destination. Those are things that can be seen in the second half of 2023.

Deputy Minister of Planning and Investment Tran Quoc Phuong

The Deputy Minister of Planning and Investment said that the first two months of 2024 are a continuation of what was achieved in the last months of 2023. The results show that the first two months of the year were extremely positive in attracting FDI. Specifically, registered investment capital reached 4.29 billion USD, an increase of 38.6% - a very high number compared to the same period. "Normally when reporting, a few percent is already terrible, but an increase of 38.6% is a good sign that foreign investors are very interested. Disbursement was also very positive, up to 9.8% - equivalent to 2.8 billion USD, showing that foreign investors' commitments to Vietnam are specific," Deputy Minister Tran Quoc Phuong analyzed. A notable point about foreign investment capital in Vietnam according to Mr. Phuong is that we have a very high ratio of new capital and new projects. This is a very good signal and it is expected that this new capital will impact growth in 2024 as well as 2025. Regarding breakthrough solutions to attract investment, the Deputy Minister of Planning and Investment said that this morning the Prime Minister directed and assigned tasks to ministries and branches, in which the Ministry of Planning and Investment is aware of its responsibility in the field of attracting foreign investment, especially large enterprises and large projects in areas of interest to Vietnam, especially science and technology and innovation. In particular, he especially emphasized the issue of attracting investment in the chip - semiconductor sector as well as new industries. Training 50,000 engineers for the chip - semiconductor sector Regarding the interest of foreign investors in Vietnam, according to the Deputy Minister of Planning and Investment, there are 3 areas of interest. The first is infrastructure and land. Because for large projects, the demand for land is very large. Investors have very high requirements for infrastructure. Therefore, the solution for the land and infrastructure sector is to focus on continuing to complete and accelerate the progress of large-scale infrastructure projects as set out in the construction implementation and especially to immediately deploy guiding documents for early implementation in the first days of the Land Law taking effect. "This is something that not only the Vietnamese people but also investors and foreign investors are looking forward to and interested in. Because the Land Law has many new points, removing obstacles for promoting the investment sector", Deputy Minister Tran Quoc Phuong emphasized. Referring to the second sector that investors are interested in and really needs to focus on breakthrough solutions is human resources, Mr. Phuong said that the Prime Minister has directed the development of a project to strive to train about 100,000 workers, laborers as well as engineers in the field of innovation and semiconductor chips, including 50,000 engineers specifically for the chip - semiconductor field. Currently, the two Ministries: Planning and Investment, Education and Training are urgently completing the project to submit to the Prime Minister, to train this high-quality human resource soon. Mr. Phuong further analyzed that large-scale foreign investors have very high demands on human resources. We have the advantage of a very abundant human resource, still in the golden population period. However, the Deputy Minister also noted that we need to focus more on the qualifications and skills of workers. This is also something that the Government and the Prime Minister are very concerned about, all ministries and branches must join hands to be able to quickly improve the qualifications of Vietnamese workers. Thereby increasing the quality of growth in labor productivity. The third area that foreign investors are interested in and we continue to focus on making breakthroughs is the institutional area. The Deputy Minister of Planning and Investment emphasized that recently, the Government has submitted and the National Assembly has approved many new breakthrough policies that have had a positive impact on growth and investment attraction, such as the Land Law, the Bidding Law and other laws. “Or more simply, regulations on entry and exit or visa procedures and rules also have a very positive impact on the psychology of investors when coming to Vietnam. Not only tourists but also investors welcome such innovative policies,” said Mr. Phuong. However, the Deputy Minister of Planning and Investment also noted that the more important thing that we need to study and focus on is policies that encourage, motivate and create maximum conditions for large-scale investors. “In general, there are three major breakthrough policy groups that need to be focused on in the coming time. One of them is improving the investment and business environment, especially reforming administrative procedures. The Government has issued Resolution 02 on this and will continue to implement it more strongly.

Vietnamnet.vn

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