Prime Minister directs to improve efficiency of foreign investment in new period

Prime Minister Pham Minh Chinh has just signed and issued Directive No. 14/CT-TTg on a number of tasks and solutions to improve the efficiency of foreign investment in the new period.

Car frame welding workshop at Ford Vietnam Company Limited, Hai Duong province. Photo: Tran Viet/VNA

Accordingly, the Prime Minister requested Ministers, Heads of ministerial-level agencies, Government agencies, Chairmen of People's Committees of provinces and centrally run cities to urgently and effectively organize the implementation of assigned tasks in Resolution No. 58/NQ-CP of the Government on the Government's Action Program to implement Resolution No. 50-NQ/TW of the Politburo and Decision No. 308/QD-TTg of the Prime Minister approving the action plan to implement the Foreign Investment Cooperation Strategy for the period 2021-2030. Prepare favorable conditions for attracting investment and production and business. In particular, the Ministry of Planning and Investment and People's Committees of provinces and centrally run cities accelerate the organization of the establishment and appraisal of provincial planning for the period 2021-2030 and vision to 2050 using an integrated approach to orient, arrange, and organize spatially, creating opportunities for rapid and sustainable development; The Ministry of Planning and Investment reports on the possibility of developing a Law on Venture Investment; building a database system on Vietnamese enterprises that meet the standards of suppliers for foreign-invested enterprises in a number of industries and fields...; The Ministry of Labor, War Invalids and Social Affairs implements policies and solutions for training and retraining to improve vocational skills for workers to meet the human resource requirements of investors, including foreign investors; focuses on developing an open, flexible, modern, effective and integrated vocational education system (rapidly increasing the scale and quality of training, prioritizing high-quality training, new technology occupations, promoting public-private partnership, digital transformation in training...); reviews and reports on the employment of Vietnamese workers who have worked abroad after returning home and proposes solutions to overcome the labor shortage. Research policies to encourage businesses to employ Vietnamese talents abroad... In June 2023, the Ministry of Science and Technology must submit to the Prime Minister amendments and supplements to Decision No. 18/2019/QD-TTg regulating the import of used machinery, equipment and technological lines in the direction of simplifying requirements and procedures for importing used production lines and equipment into Vietnam to serve relocation activities, ensuring advanced imported machinery and technology, consistent with the investment attraction orientation; review requirements, sequences and procedures to ensure that outdated technologies, energy-consuming technologies, and potential risks of environmental pollution are not accepted. Research and develop policies to encourage cooperation and technology transfer to Vietnamese enterprises. In the third quarter of 2023, the Ministry of Information and Communications will research and propose a pilot policy framework and breakthrough solutions to attract the world's leading digital technology corporations (techfirms) to Vietnam. Review, develop and propose to issue under authority mechanisms and policies on concentrated information technology parks to form concentrated information industrial parks that meet international standards; attract the world's leading technology corporations to invest, research and develop. Develop or propose to issue incentive mechanisms for Vietnamese information technology enterprises to research and develop core software, source technology, etc. The Ministry of Finance reviews the inadequacies and inconsistencies of tax laws with regulations on tax incentives of specialized laws to propose, develop, submit to competent authorities or issue under authority tax laws to ensure consistency with other relevant laws in the third quarter of 2023; Review and complete current legal regulations and develop a roadmap for applying global minimum tax based on international experience and in accordance with the context and practical situation of Vietnam to be submitted to the 6th Session of the National Assembly in 2023... The Ministry of Foreign Affairs, through diplomatic and foreign affairs channels, will strengthen the promotion, advertising, and image building of Vietnam's investment and business environment and the Government's orientation on sustainable development to contribute to the development and diversification of investment cooperation opportunities with major partner countries. In the third quarter of 2023, the Ministry of Education and Training will submit to the Government research and develop policies to enhance competitiveness and create an attractive environment to selectively attract foreign educational institutions to invest and build branches in Vietnam; Research and develop mechanisms to encourage organizations and enterprises to cooperate with educational institutions to invest in improving facilities and training high-quality human resources when they are capable of absorbing, mastering and effectively exploiting technology from abroad in Vietnam... The Ministry of Public Security and the Ministry of Construction continue and urgently implement effectively the Prime Minister's Official Dispatch No. 220/CD-TTg on removing difficulties and obstacles in fire prevention and fighting.

The Ministry of Health reviews and evaluates difficulties and shortcomings related to the procedures for granting licenses for circulation of medical equipment and pharmaceuticals to amend and supplement the Law on Pharmacy, ensuring comprehensiveness, consistency and feasibility; meeting the situation of socio-economic development and international integration... Ministries and branches review difficulties in the implementation of legal provisions on investment to synthesize and promptly guide handling or submit to competent authorities to issue regulations to resolve difficulties. Thoroughly cut down cumbersome administrative procedures that cause difficulties for investors and people... People's Committees of provinces and centrally run cities develop investment development plans and organize the construction of technical infrastructure systems and social infrastructure outside the fences of industrial parks, export processing zones, high-tech zones, and functional areas of economic zones. Review and amend internal processes and procedures related to appraisal and approval of investment policies, ensuring compliance with investment laws and related laws but not causing inconvenience or increasing costs for investors... The Directive also clearly states the tasks of ministries, branches, People's Committees of provinces and centrally run cities to improve the effectiveness and efficiency of state management in the field of foreign investment; strengthen inspection, supervision and assessment of investment activities; improve the effectiveness of investment promotion and attraction activities... Regarding implementation, the Prime Minister requests ministers, heads of ministerial-level agencies, heads of government agencies, and chairmen of People's Committees of provinces and centrally run cities to proactively and promptly perform the tasks assigned in this Directive. The Ministry of Planning and Investment shall preside over and coordinate with relevant ministries, branches and agencies to urge, inspect and supervise the implementation of the Directive.

VNA/Tin Tuc Newspaper