Synchronizing infrastructure helps attract FDI

Although the global new investment trend has slowed down, Vietnam is still a bright spot in attracting FDI. Comments from many investors at the Vietnam Business Forum 2024.

Vietnam currently has over 39,500 valid FDI projects, with a total investment capital of over 473 billion USD. Although the global new investment trend has slowed down, Vietnam is still a bright spot in attracting FDI. This is the opinion of many investors at the Vietnam Business Forum 2024.

One of Vietnam's competitive advantages in attracting this capital flow is that a series of key, large-scale infrastructure projects have been started, thereby creating synchronization and helping to remove long-standing bottlenecks in transport and logistics infrastructure.

This has also created a big boost for businesses, localities and regions in exploiting potential and advantages to attract FDI.

Tran De Industrial Park, Soc Trang province has a scale of 160 hectares, and is completing the final stages of infrastructure construction. This is one of the potential industrial parks attracting investors to the province as it is located at the end of the Chau Doc - Can Tho - Soc Trang highway.

"For Soc Trang, the agricultural and aquatic sector is very advantageous. In recent times, partners have been interested in infrastructure, clusters, and industrial parks, seaports and logistics," said Mr. Tran Khac Tam - Chairman of the Soc Trang Provincial Business Association.

When the bottlenecks in transport infrastructure are removed, many large industrial parks in the Mekong Delta will become inter-regional growth poles. VSIP Industrial Park in Can Tho City, which began construction in the third quarter of last year, is expected to open up new development opportunities for the entire region.

Mr. Tran Viet Truong - Chairman of Can Tho City People's Committee said: "Let's work together to remove legal difficulties and obstacles, and implementation difficulties at the industrial park's construction site, so that this industrial park can be completed as soon as possible."

Infrastructure, transportation and human resources are necessary conditions, while flexibility and proactiveness in investment attraction mechanisms and improving the quality of the investment and business environment will be sufficient conditions for localities to turn their potential into FDI investment projects.

Mr. Lam Hoang Nghiep - Permanent Vice Chairman of Soc Trang Provincial People's Committee emphasized: "Shorten the procedures, carry out administrative procedures as quickly as possible, avoid inconvenience for businesses and investors. Assign the focal point, focus on the Department of Planning and Investment, directly the Investment Promotion and Support Center".

Mr. Kenneth Atkinson - Member of the Board of the British Business Association in Vietnam (Britcham) said: "Our investors appreciate that the quality of infrastructure connecting localities has been significantly improved in recent years, especially after COVID 19. The expressway sections are creating a huge momentum for the economy, with a commitment to be completed by 2025 to create seamless transport infrastructure, thereby improving logistics efficiency and inter-regional connectivity".

According to VTV

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