Prime Minister directs to improve the efficiency of foreign investment

The Prime Minister requested the Ministry of Planning and Investment to build a database system on Vietnamese enterprises that meet the standards to become suppliers for foreign-invested enterprises in a number of industries.

View of the Prime Minister's meeting with foreign investors held in April 2023. (Photo: Duong Giang/VNA)

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.

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 organize and effectively implement the tasks assigned 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 2021-2030 period.

Prepare favorable conditions for attracting investment and production and business. Among them, the Ministry of Planning and Investment and the People's Committees of provinces and centrally run cities will accelerate the organization 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 reported on the possibility of developing a Law on Venture Investment; building a database system on Vietnamese enterprises that meet the standards to become 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 the vocational skills of 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, etc.); reviews and reports on the employment of Vietnamese workers who have worked abroad after returning home and proposes solutions to overcome the labor shortage. Researches 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 that imported machinery and technology are advanced and consistent with the investment attraction orientation; review requirements, procedures and processes to ensure that outdated technologies that consume a lot of energy and pose a potential risk 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 study 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, according to its 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 and source technology.

The Ministry of Finance shall review the inadequacies and inconsistencies of tax laws with the provisions on tax incentives of specialized laws to propose, develop, submit to competent authorities or promulgate under its 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 submit to the 6th Session of the National Assembly in 2023.

The Ministry of Foreign Affairs, through diplomatic and foreign affairs channels, strengthens the promotion, dissemination, 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 a study on developing policies to enhance competitiveness and create an attractive environment to selectively attract foreign educational institutions to invest in and build branches in Vietnam; study and develop a mechanism 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 to urgently and effectively implement 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 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.

Thủ tướng Chính phủ chỉ thị nâng cao hiệu quả đầu tư nước ngoài

Workers work at a foreign direct investment (FDI) company in Giang Dien Industrial Park, Trang Bom District, Dong Nai Province. (Photo: Hong Dat/VNA)

Ministries and sectors review difficulties in the implementation of investment law provisions to synthesize and promptly guide handling or submit to competent authorities to issue regulations to resolve difficulties. Thoroughly cut down on cumbersome administrative procedures that cause difficulties for investors and people.

The People's Committees of provinces and centrally run cities shall 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 in 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 without causing inconvenience or increasing costs for investors.

The Directive also clearly states the tasks of ministries, branches, and 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 evaluation of investment activities; and 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, Chairmen of People's Committees of provinces and centrally run cities to proactively and promptly perform the assigned tasks 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./.

According to VNA

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