Speaking at a conference with Nordic investors on March 12, Deputy Prime Minister Tran Luu Quang said that Vietnam aims to selectively attract investment in projects with spillover connections between the foreign-invested (FDI) sector and the domestic sector.
Accordingly, Vietnamese enterprises will participate more deeply in the production chain of foreign investors through expanding cooperation. "There needs to be policies to support and promote domestic enterprises to cooperate and do business with the FDI sector," said the Deputy Prime Minister.
He also believes that this is an opportunity for Vietnamese businesses to grow and gradually enter the world arena.
Deputy Prime Minister Tran Luu Quang met with leaders of Nordic corporations on the sidelines of an investment conference on March 12. Photo: VGP
According to a report by the Ministry of Planning and Investment, FDI attraction reached nearly 4.3 billion USD in the first two months of the year. This level increased by nearly 37% compared to the same period last year. Among the Nordic countries (Denmark, Finland, Ireland, Norway and Sweden), Denmark is the largest investor, with over 2 billion USD poured into Vietnam.
Deputy Prime Minister Tran Luu Quang suggested that Nordic businesses explore cooperation opportunities in areas of strength and demand in Vietnam, such as finance, banking, green industry, education and training, and healthcare.
At the same time, he hopes that businesses in this region will be a bridge to provide information about Vietnam's policies and investment environment to investors in their countries.
To attract investment, according to the Deputy Prime Minister, Vietnam will continue administrative reform, increase digital transformation, decentralize to localities and commit to providing enough electricity for production and business. The power source structure will be adjusted towards increasing the proportion of renewable energy, aiming for a net zero emission reduction target by 2050.
"The goal is that by the end of the term, all administrative procedures will be put online for investors to learn about, limiting unnecessary costs," he said.
Vietnam also ensures the quantity and quality of human resources to meet investors' needs. In addition to Vietnam's efforts, the Deputy Prime Minister suggested that Nordic businesses cooperate in specialized vocational training.
Regarding the semiconductor industry, he informed that Vietnam aims to train 50,000 engineers by 2030. Currently, the Government is cooperating with large training centers and successful FDI enterprises in Vietnam, such as Samsung, LG, and Intel.
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