According to data from the General Statistics Office, this year, as of August 31, Vietnam has attracted a total of 20.52 billion USD in FDI capital, up 7% over the same period last year. Notably, 2,247 new projects have been licensed with a total registered capital of nearly 12 billion USD, showing positive growth (up 27% in capital compared to the same period last year).
According to the General Statistics Office, FDI realized in Vietnam in the first 8 months of 2024 is estimated at 14.15 billion USD, up 8.0% over the same period last year. This is the highest amount of foreign capital invested in 8 months in the past 5 years.
The strong growth of FDI inflows into Vietnam is explained by a series of favorable factors. With its strategic location in Southeast Asia, Vietnam has become an important "gateway" for many international businesses wanting to exploit the market potential in the region. In addition, its young population, abundant labor force and preferential policies for businesses are also strengths that help Vietnam become an attractive destination for foreign investors.
According to Mr. Dominik Meichle - Chairman of the European Chamber of Commerce in Vietnam (Eurocham), Vietnam's economic potential is undeniable and European businesses still maintain confidence in Vietnam's long-term growth.
Mr. Wee Ee Cheong - General Director of UOB Singapore, also said that Vietnam is one of the fastest growing economies in Southeast Asia, especially benefiting from the shift in global supply chains and free trade agreements (FTAs).
To maintain and attract more FDI flows, improving the investment environment is a prerequisite.
According to Mr. Phan Van Mai - Chairman of Ho Chi Minh City People's Committee, the city is making efforts to keep up with global development trends, especially in the field of smart cities and innovation. In addition, with special mechanisms, Ho Chi Minh City will continue to play the role of economic locomotive of the Southern region and a strategic destination for investors.
However, improving the investment environment requires synchronous and specific solutions. Administrative barriers and complex regulations need to be removed to create more favorable conditions for foreign enterprises to operate in Vietnam. This includes simplifying the process of establishing enterprises, digitizing administrative procedures in the fields of customs and taxes, helping to improve national competitiveness.
Mr. Dominik Meichle also emphasized that cooperation to resolve administrative barriers will help create a more effective and attractive business environment for both European and Vietnamese enterprises.
Another important aspect in attracting and using FDI effectively is supporting domestic enterprises to participate more deeply in the global supply chain.
Vietnam not only needs to create a favorable business environment for FDI enterprises, but also needs to support domestic enterprises in accessing investment resources, upgrading technology and improving competitiveness. The government also needs to introduce preferential policies on interest rates, finance, and other support mechanisms to help domestic enterprises be capable of participating in the global supply chain.
According to Minister of Planning and Investment Nguyen Chi Dung, Vietnam has been gradually perfecting its investment policies and laws to create favorable conditions for foreign enterprises. Solutions to support domestic enterprises have also been implemented to facilitate their deeper participation in the global supply chain. This is part of the strategy to effectively attract FDI capital flows, contributing to improving the competitiveness and sustainable development of the Vietnamese economy.
Source: https://doanhnghiepvn.vn/kinh-te/cai-thien-moi-truong-dau-tu-tang-hut-von-fdi/20240912092542535
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