Conference on 30 years of FDI attraction to open new era and vision

Policy-makers, business stakeholders, and experts will gather to find a fresh vision for FDI

The conference is an opportunity to promote and share the government’s strategy with the business community and global investors on the future directions for FDI, as well as share information on the development of specific industries and localities, including investment opportunities.

Prime Minister Nguyen Xuan Phuc will attend and chair the conference, which will welcome speakers, including leaders of ministries and provinces, business associations, domestic and foreign investors, and foreign direct investment (FDI) experts to discuss the strategy, directions, and future solutions for FDI in Vietnam.

Assessing the background and future of FDI attraction, Professor Nguyen Mai, chairman of the Vietnam Association of Foreign Investment Enterprises (VAFIE), said: “I am sure that FDI attraction will maintain the growth momentum not only in 2019-2020, but also in the years later.”

Although there have been no details revealed of the agreements, Deputy Minister of Planning and Investment Vu Dai Thang confirmed that FDI attraction in this October could reach a new peak, as a lot of huge projects will be granted investment certificates at the conference.

According to the Ministry of Planning and Investment’s Foreign Investment Agency, as of the end of September 2018, there were 26,646 valid foreign-invested projects with the total registered capital of $334 billion across 19 of the 21 economic sectors. Of these, the processing and manufacturing industry made up the largest proportion with around 57.1 per cent of the total investment, followed by real estate (17.1 per cent) and the production and distribution of power, gas, and water (6.8 per cent).

There are 129 countries and territories operating foreign-invested projects in Vietnam. The Republic of Korea and Japan are the two biggest investors, with the total investment capital of nearly $117 billion, capturing 35 per cent of the total investment, followed by Singapore, Taiwan, the British Virgin Islands, and Hong Kong.