Attract and encourage international investors and businesses to invest; Connecting and promoting Vietnamese businesses to effectively participate in smart production chains and global supply chains, thereby achieving sustainable growth goals... are the main goals of the "Product Chain" Forum. Smart Export & Vietnam Global Supply Chain 2024” (VGMF2024) held on March 26.
Benefits from policies
Competition among countries in the region and around the world in attracting FDI, especially in the electronics and semiconductor industry, is very fierce because all countries see the benefits, potential and scale of the industry. This is huge. Any country that is quick and has appropriate and drastic policies will master and take advantage of this new wave. Deputy Minister of Planning and Investment Tran Duy Dong said that the Forum's topic is of great interest to agencies and businesses at the present time. Vietnam is aiming to attract selective investment, targeting high-tech, high-value-added and pervasive projects, connecting with domestic businesses. Accordingly, priority is given to projects such as high technology, electronics, semiconductors, innovation, renewable energy, international financial center, modern trade and services, and building synchronous infrastructure. , research and development…
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| Forum "Smart Production Chain & Global Supply Chain Vietnam 2024" |
In particular, the field of electronics manufacturing, semiconductor chips, and smart manufacturing is currently one of the priority areas to attract investment and is receiving great attention from the Government and ministries. The Government has assigned ministries, including the Ministry of Planning and Investment, to carry out many tasks, demonstrating its readiness and desire to receive a new wave of investment in this industry in Vietnam.
| “We are committed to always listening, accompanying, supporting and creating favorable conditions for foreign businesses in general and businesses in the electronics and semiconductor sectors to invest and do business effectively, long-term and sustainability in Vietnam", Deputy Minister of Planning and Investment Tran Duy Dong emphasized at the Forum. |
In particular, the necessary conditions to attract investment in localities have been ensured. Regarding land infrastructure, localities have promoted site clearance and created clean sites to be able to supply electronics and semiconductor businesses. Along with that, strategic transportation infrastructure connecting economic centers, seaports, and airports is also being strengthened. In addition, localities also prepare information technology, electricity, water, and social infrastructure issues for workers in the semiconductor industry.
“Thus, factors such as hard infrastructure, soft infrastructure, policy mechanisms, research and development, strategy and especially human resources all show that the direction of the Government and the Prime Minister is very important. correctly and promptly so that we can master and be ready to participate deeper in the value chain in the global electronics and semiconductor industry," Mr. Dong informed.
Ready from local
For FDI investors in general, in the electronics and semiconductor industry chain in particular, when looking for new investment opportunities or expanding operations in Vietnam, besides policy factors, what they are more interested in is: including in the areas where they find it suitable and want to have "an inch of land" for their production and business activities, whether there is readiness in terms of land, essential infrastructure, and human resources. …
That concern was partly answered at this Forum, when local representatives showed high readiness to meet the requirements of investors. For example, Nghe An - a province in the past 3 years has had a strong breakthrough in attracting FDI investment. In 2023, Nghe An will rank 8th among the localities attracting the largest FDI in the country, with an ecosystem of over 30 projects producing electronic products, producing optical and photovoltaic components... with the participation of global supply manufacturers such as: Luxshare, Goertek, Foxconn... and are contributing to making Nghe An a center for manufacturing electronic components and green energy of the country.
According to Mr. Nguyen Van Hai, Deputy Head of the Management Board of Southeast Nghe An Economic Zone, this achievement is thanks to the fact that in recent years, the province has prepared the necessary conditions to welcome investors, especially especially FDI investors. “The steadfast and persistent motto “5 readiness” includes: Being ready in planning; Ready for investment premises; Prepare essential infrastructure; Availability of human resources; Ready to innovate administrative reform and support investors, making Nghe An a destination, rated by investors as "Convenient - Reliable - Effective", Mr. Hai said.
And of course, according to Mr. Hai, all of these "readiness" factors are not done once but happen continuously. For example, in the provincial planning for the 2021-2030 period that the locality is focusing on implementing, the Southeast Economic Zone will expand over 106.000 hectares, of which the industrial park land fund is about 14.117 hectares - or 3 times more than the area. Current industrial park land fund. The province also focuses on accelerating site clearance compensation, building infrastructure of existing industrial parks (about 790 hectares), developing new about 2.000 hectares of industrial parks by 2025 to meet the clean land fund and synchronous infrastructure. , meeting environmental protection requirements to attract investment.
The readiness and convenience of the investment destination is also what investors want and will continue to learn more specifically to make investment decisions in the future. Mr. Ko Tae Yeon, General Director of Heesung Electronics Vietnam (this company officially went into operation in 2018) shared that he is the head of the Heesung project.
Electronics and it initially took more than a year to choose the country. "At that time, we compared the population size, Government policies, business environment, infrastructure... and found that Vietnam was the ideal place," said Mr. Ko Tae Yeon. ” about the past and back to the present: “I know that many other foreign businesses are currently conducting similar feasibility studies.”
However, Mr. Ko Tae Yeon also frankly shared that the preferential policies are still not really attractive. “The government should consider this issue, especially given the impact of the global minimum tax,” he said, adding that action plans should specifically implement human resource training and policy reform. , improving infrastructure... also need more attention and promotion.
Dr. Le Minh Nghia - Chairman of the Vietnam Financial Consulting Association (VFCA) said that the organization of VGMF2024 is of great significance to attract and encourage international investors and businesses to invest; connecting and promoting Vietnam into smart production chains and global supply chains, focusing on the application of innovative technology and effective management to improve the competitiveness of supply chains in Vietnam, through That achieves the goal of sustainable growth; Build and strengthen cooperative relationships with international businesses and organizations, seek opportunities for common development and mutual benefit...
