VN attracts huge investment in H1

Illustration photo

According to the World Bank, in the first half of this year, the Foreign Direct Investment (FDI) into Viet Nam has witnessed positive achievements in quality. The investment decreased in real estate (only accounting for 10%) to actively switch to the manufacturing sector.

WB Lead Economist in Viet Nam Sandeep Mahajan said Viet Nam has been the attractive destination for foreign investors, adding that FDI is the spotlight in the nation’s macro-economy over the first half.

A number of localities nationwide continued to attract huge capital from foreign investors.

In July, the Bac Ninh Province People’s Committee licensed a US$1 billion project funded by Samsung Display Co of the Republic of Korea.

The Vietnamese Government is doing its utmost to amend the Law on Enterprises and the Law on Investment, which are expected to create more favorable conditions for foreign investors.

Especially, Viet Nam has negotiated with related partners in completing a number of crucial free trade agreements such as the Tran-Pacific Partnership Agreement. The participation of Viet Nam in an ASEAN Economic Community by 2015 will spur economic development and pave the wider way for foreign investors.

International Finance Corporation Regional Manager for Viet Nam, Laos, Cambodia and Thailand Simon Andrews suggested that the Vietnamese Government accelerate transparency, reduce administrative procedures and conclusively deal with bad debt and privatization.  

By Thuy Dung