Foreign investment in ethnic minority areas is not commensurate with its potential.

DNVN - Foreign investment in Vietnam's ethnic minority regions has not lived up to its potential. "Soft" limitations in knowledge, skills, and experience have negatively impacted the situation and results of foreign investment.

This information was emphasized by Dr. Hoang Van Xo, Director of the International Cooperation Department (Committee for Ethnic Minorities), at the signing ceremony of the strategic cooperation agreement between the International Investment Research Institute (ISC) and the International Cooperation Department on June 17th in Hanoi . The strategic cooperation agreement was signed to promote foreign investment and strengthen investment promotion in Vietnam's mountainous provinces.

According to Dr. Hoang Van Xo, in recent years, the socio -economic conditions of ethnic minority and mountainous regions have seen positive changes and achieved certain results. However, these areas remain the poorest in the country. To exploit the potential and strengths of the localities and achieve sustainable development, in addition to domestic resources, foreign investment is needed – a crucial channel for attracting investment.

Representatives from both sides posed for a commemorative photo.

"The reality shows that foreign investment in ethnic minority areas has not been commensurate with its potential. 'Soft' limitations in knowledge, skills, and experience have negatively impacted the situation and results of foreign investment," the Director of the International Cooperation Department emphasized.

Mr. Xô also affirmed that cooperation with ISC will open up new prospects for mountainous localities in improving the quality and effectiveness of foreign investment cooperation, contributing to promoting comprehensive socio-economic development.

The Committee for Ethnic Minorities, in its role and functions assigned by the Government , is fully capable of connecting and introducing foreign businesses to localities. The Committee for Ethnic Minorities will provide maximum support to connect and bring foreign investment to localities inhabited by ethnic minorities.

Mr. Phan Huu Thang, Chairman of ISC and Chairman of the Vietnam Industrial Park Finance Association (VIPFA), expressed his belief in the core value of the Vietnamese Party and State's development orientation of "leaving no one or any locality behind."

“With its capabilities and experience in the field of international investment, ISC hopes to contribute to the Government's overall efforts in supporting mountainous localities to attract effective investment, improve the quality of life for people, and contribute to the sustainable development of the country,” said Mr. Phan Huu Thang.

According to the cooperation agreement, the two sides will provide training on legal knowledge, state management skills regarding foreign investment, and investment promotion for officials in mountainous provinces; jointly organize and coordinate investment promotion activities in mountainous provinces; and advise each other on activities related to international investment cooperation within the scope of each side's functions and responsibilities.

The ISC Chairman assessed that the signing event marks an important step in mobilizing international resources and capabilities to develop socio-economic conditions in mountainous ethnic minority areas, improve the quality of life for the people, and promote Vietnam's international integration process.

Minh Thu

Source: https://doanhnghiepvn.vn/kinh-te/chinh-sach/dau-tu-nuoc-ngoai-tai-vung-dan-toc-thieu-so-chua-xung-voi-tiem-nang/20240618055745484