At the regular Government press conference in February 2024, Deputy Minister of Planning and Investment Tran Quoc Phuong proposed three solutions to attract and retain the world's major technology corporations.
First, focus on improving infrastructure and land. According to Mr. Phuong, these are issues that foreign investors are very interested in.
"Large projects of foreign investors have large land use demands and high infrastructure requirements. Therefore, in the coming time, we will focus on completing infrastructure connection projects, and at the same time immediately deploying guiding documents on the Land Law," Mr. Phuong informed.
Second, focus on training and building high-quality human resources. The Government has approved a project to strive to train about 100,000 workers, laborers and engineers in the fields of innovation and semiconductor chips, including 50,000 workers for the semiconductor chip sector.
The Ministry of Planning and Investment is coordinating with the Ministry of Education and Training to urgently implement a project to train high-quality human resources, especially human resources in the semiconductor industry.
Deputy Minister of Planning and Investment Tran Quoc Phuong provided the press with information on foreign investment attraction in early 2024. (Photo: VGP/Nhat Bac)
"We have the advantage of abundant human resources, still in the golden population period. But what we need to focus more on is the qualifications and skills of the workers. This is also something the Government and the Prime Minister are very concerned about. All ministries and sectors must join hands to quickly improve the qualifications of Vietnamese workers," the Deputy Minister shared.
Third, focus on perfecting institutional work. Deputy Minister Phuong said that recently, the National Assembly has issued many breakthrough policies and mechanisms such as the Law on Bidding and the Law on Land. In addition, the Government has also issued many regulations to improve the investment and business environment and reform administrative procedures.
"The newly issued mechanisms and policies will certainly make important contributions to promoting the attraction of foreign investment projects in Vietnam," Deputy Minister Phuong affirmed.
According to data from the Ministry of Planning and Investment, as of February 20, total foreign investment capital reached nearly 4.3 billion USD, an increase of 39% over the same period last year.
Newly registered capital alone doubled last year, reaching 3.6 billion USD. The reason, according to Deputy Minister Tran Quoc Phuong, is thanks to the 55% increase in the number of new projects and the large scale of investment capital (400-600 million USD).
"This is a signal showing the commitment of foreign investors to Vietnam. On the other hand, the high rate of capital and new projects will have a positive impact on growth," said Mr. Phuong.
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