The Prime Minister said Vietnam selectively attracts FDI, prioritizing capital in high-tech, semiconductor, and AI projects, but "does not accept growth first and cleaning up later."
Meeting with foreign investors on March 19 within the framework of the annual Vietnam Business Forum (VBF 2024), Prime Minister Pham Minh Chinh said he has confidence in FDI enterprises. Because this sector makes an important contribution to improving the quality of Vietnam's economy .
"Investment from FDI enterprises helps supplement capital, promote economic restructuring, create jobs and livelihoods for people," he said.
However, the Prime Minister reiterated the viewpoint of selectively attracting investment, prioritizing high-tech projects, new fields (such as semiconductors, artificial intelligence), with widespread impact and being environmentally friendly.
" Vietnam does not accept growth first, clean up later, and growth at all costs," he said.
Prime Minister Pham Minh Chinh at the meeting with the FDI business community on March 19. Photo: VGP
Faced with rapid and uncertain changes in the world, to help investors feel secure in doing business, the Prime Minister affirmed that Vietnam is not subjective or negligent, and is always ready to respond to all challenging situations.
The Vietnamese government also always listens and shares with partners and investors, so that we can work together, enjoy together, and win together. "I have never refused to receive any business association if I am in Hanoi," said the Prime Minister.
He also pledged three guarantees to the business community. First, Vietnam ensures the legal and legitimate rights and interests of businesses, including FDI, so that investors can stabilize and develop according to new trends (green, responding to climate change). Second, Vietnam ensures political and social stability as well as policies. Finally, energy ensures development towards green transformation and digital economic development.
Prime Minister Pham Minh Chinh talks with FDI enterprises on the sidelines of the conference on March 19. Photo: VGP
In 2023, Vietnam attracted nearly 37 billion USD in FDI capital, an increase of over 32% and the third highest level in the past 15 years, according to the Ministry of Planning and Investment. Disbursed foreign capital reached nearly 23.2 billion USD, an increase of 3.5%, also a record level.
In the first two months of the year, FDI attraction reached 4.3 billion USD, up nearly 37% over the same period. As of the end of February, Vietnam had over 39,500 valid foreign investment projects, with a total investment capital of over 473 billion USD.
Previously, many associations expressed concerns about the burden of administrative procedures. Mr. Joseph Uddo, Chairman of the American Chamber of Commerce (AmCham) in Hanoi, said that many businesses, including AmCham members, are facing delays in approving administrative procedures. This hinders or stalls business projects, affecting Vietnam's competitiveness.
The Korean Business Association (Kocham) suggested that Vietnam be transparent and promptly process value-added tax (VAT) refund procedures and shorten business dissolution procedures.
Taking note of the feedback from foreign businesses, the Prime Minister said the Government will promote breakthroughs in institutions, infrastructure, human resources, and increase transparency and fight corruption to create trust for businesses.
He suggested that FDI enterprises continue to accompany and support Vietnam in terms of capital, institutions, technology, management, and human resource training. Foreign enterprises also need to overcome some limitations in investment quality, technology transfer, and weak linkages with domestic enterprises.
Duc Minh - Vnexpress.net
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