Workers at Samsung Electronics Vietnam Co., Ltd. produce smartphones. (Photo: Anh Tuan/VNA)
With the constant development and transformation of the global economy, Vietnam is considered a new production link in Asia, playing an increasingly important role in the global smart manufacturing supply chain.
More and more large manufacturers, in the global supply chain, have come and chosen Vietnam. As more and more investors choose, Vietnam also has the right to choose who to invest in, not just passively like in the previous period.
Vietnam News Agency would like to introduce an article by Dr. Phan Huu Thang, former Director of the Foreign Investment Department under the Ministry of Planning and Investment, Chairman of the International Investment Research Institute (ISC), Chairman of the Vietnam Industrial Park Finance Association:
More and more big manufacturers choose Vietnam
According to data just released by the Foreign Investment Agency, Ministry of Planning and Investment, as of March 20, the total newly registered capital, adjusted capital, and capital contribution and purchase of shares and capital contributions by foreign investors reached more than 6.17 billion USD, up 13.4% over the same period last year. Of which, 644 new projects were granted investment registration certificates, with a total registered capital of more than 4.77 billion USD, up 23.4% in number of projects and 57.9% in capital over the same period.
In addition, there were 248 projects registering to adjust their investment capital, with the total registered capital increasing by 934.6 million USD, up 6% in the number of projects and down 22.6% in capital compared to the same period. And there were 604 capital contributions and share purchases by foreign investors, with the total capital contribution reaching 466.2 million USD, down 14.1% in the number of projects and down 61.7% in capital compared to the same period.
In the first three months of this year, the realized capital of foreign direct investment (FDI) projects reached about 4.63 billion USD, up 7.1% over the same period in 2023. This is a signal that the disbursement of foreign investment capital this year will continue the positive trend in recent years, affirming that the commitments of foreign investors are being realized.
Although global FDI attraction has been unstable in recent times, FDI capital flows into Vietnam remain stable and tend to increase. This proves that Vietnam is still considered an investment destination for both the region and the world.
Assembling electronic components for the printing industry at Chee Yuen Electronic Technology Vietnam Co., Ltd., invested by Taiwan (China) in An Duong Industrial Park, An Duong district. (Photo: Vu Sinh/VNA)
More and more large manufacturers in the global supply chain have come to and chosen Vietnam. We can mention names such as Intel, Bosch, Panasonics, Kyocera, Foxconn, Samsung, LG... in the years before 2020 and from 2021 to now are new top names such as ASML (Netherlands), Amkor (Korea), Lam Research (USA), Seojin (Korea), Infineon Technologies AG (Germany), Victory Giant Technology (China), Synopsys (USA), BOE (China)...
Vietnam has the right to choose who to invest in.
At the recent Vietnam Global Supply Chain & Smart Manufacturing Forum 2024 (VGMF2024), many businesses expressed their desire to seek cooperation opportunities to create an on-site production network from Vietnam to serve orders from large corporations in Vietnam and for production chains outside of Vietnam.
Thus, investors have evaluated the capacity of Vietnamese enterprises higher than before. The presence of Samsung Intel, Foxconn... also shows that Vietnam's investment and business environment has improved a lot. Besides, Vietnam is also very active in participating and integrating into the international economy. Although there are still many issues that need to be improved, investors feel secure when investing in Vietnam. When more and more investors choose, Vietnam has the right to choose who to invest in, not passively waiting like before.
During nearly 40 years of renovation, Vietnam has gone through many different stages in attracting foreign investment. Although there are still aspects that are not as expected, overall, attracting foreign investment has achieved many very positive results.
Resolution No. 50-NQ/TW dated August 20, 2019 (Resolution 50) of the Politburo has determined the viewpoint: Selective foreign investment cooperation, taking quality, efficiency, technology and environmental protection as the main evaluation criteria. Prioritizing projects with advanced technology, new technology, high technology, clean technology, modern management, high added value, spillover effects, connecting global production and supply chains.
In the current context, investment trends are also very different from before. And the trend of shifting production chains and supply chains is emerging. Vietnam cannot change or stand outside the trend. Therefore, Vietnam must be proactive as soon as possible to welcome the desired investment flows. In that shifting trend, how can Vietnam welcome smart production flows into Vietnam? Only by proactively welcoming, can Vietnam maintain quality, maintain orientation, and maintain international cooperation with all countries in the region. These cooperations and associations will bring benefits, ensure the rights of all participants, and ensure the "win-win" principle.
But to receive the desired investment flow and choose high-quality investors, and at the same time to receive and absorb high-quality investment flows and smart production flows, Vietnam needs to prepare many more issues.
Work together, enjoy together, win together and develop together
The forecast of a new wave of foreign investment in Vietnam is leading to a great demand for industrial parks. The development of economic zones across the country also needs to change in a new trend, a new development stage. Only then can we welcome billion-dollar projects, high technology and smart manufacturing.
The production workshop of Global Dynamic Mechanical Company, a FDI-invested enterprise in Giang Dien Industrial Park, Trang Bom District, Dong Nai Province. (Photo: Hong Dat/VNA)
Since Tan Thuan Export Processing Zone was the first export processing zone established (in 1991), it has been 33 years, the system of economic zones, industrial parks, and export processing zones (collectively referred to as industrial parks) has developed widely across 61 provinces and cities nationwide with 416 industrial parks established. Of which, 296 industrial parks have been put into operation. Over the past 33 years, the industrial park system has made positive contributions to the country, strongly attracting foreign direct investment (FDI), stimulating and improving the efficiency of using domestic resources, and supplementing important capital for development investment.
The industrial park system nationwide attracts about 40% of the total FDI capital increasing each year, contributing to promoting the development of industries, increasing export turnover, enhancing the competitiveness of the economy, while expanding the international market and transforming the development space.
In the new context, the new trend of industrial parks must also be new types of industrial parks. These are ecological industrial parks, high-tech industrial parks, smart industrial parks, specialized industrial parks... However, the development of industrial parks has also revealed limitations and inadequacies. Investment and construction of industrial parks still face many difficulties.
The planning for the development of industrial zones in some localities lacks a comprehensive and long-term vision, is not close to the development needs and the ability to attract investment capital... Institutions and policies are not unified, synchronized and have not made a breakthrough to promote the role and contribution of industrial zones. Administrative procedures are still a difficulty.
However, it is very necessary to focus on attracting investment capital to form a system of modern industrial parks following new trends such as ecological industrial parks, high-tech parks, specialized industrial parks, etc.
In the country, there are many large enterprises with enough potential and capacity to build modern, green industrial park infrastructure that meets the high standards of large corporations.
The problem is how to achieve the spirit of "3 together" as Prime Minister Pham Minh Chinh emphasized at the recent meeting with FDI enterprises: "Listening and understanding between enterprises, the State and the people; sharing vision and action for economic development in general and green development in particular; working together, enjoying together, winning together and developing together." Only then can we have a system of Vietnamese industrial parks that meets new trends, new requirements, and does not miss out on multi-billion dollar projects./.
According to VNA
Source: https://www.vietnamplus.vn/kinh-te-quy-1-viet-nam-dang-chu-dong-don-dong-von-chat-luong-cao-post937469.vnp
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