How Vietnam will become a rising star in FDI attraction?
VietReader 9-09-2020, 07:48

The event was jointly organised by the Ministry of Planning and Investment, the State Bank of Vietnam (SBV) and Standard Chartered Bank.

Addressing the event, SBV Governor Le Minh Hung emphasised that over the past 20 years Vietnam has always been considered as an attractive destination by foreign investors thanks to many factors including political, economic and social stability and policies facilitating foreign investment.

As a State management agency in the monetary and banking sector, SBV has always focused on well performing the task of ensuring macro stability, currency stability, exchange rate stability, healthy development of the banking sector with high resilience, and meeting capital needs for economic development in a timely manner, Hung noted.

Amid the negative impacts of the COVID-19 pandemic, the Government and SBV have worked out flexible measures to promptly respond to the pandemic and ease its impacts on the economy.

“With its existing competitive advantages along with strong reforms of the investment environment, increasing position in the international arena, and effective COVID-19 prevention measures, Vietnam is being highly appreciated by the international community, becoming an attractive and safe investment destination for foreign investors,” said Minister of Planning and Investment Nguyen Chi Dung.

How Vietnam will become a rising star in FDI attraction?

Nirukt Sapru, CEO, Vietnam and ASEAN & South Asia Cluster Markets, Standard Chartered said that, with strong fundamental factors such as a young, dynamic and tech-savvy population, the growing domestic market, the expanding middle class and an open economy, Vietnam continues to offer attractive investment opportunities.

Minister Dung said that the COVID-19 pandemic and its devastating consequences have caused nations and international corporations to speed up the investment restructuring process to avoid the dependence on specific countries and partners.

Many countries around the world have issued preferential policies and strong support packages to retain and attract foreign investors and Vietnam is no exception to that trend, Dung noted.

In the future, Vietnam will implement a proactive policy of FDI attraction towards quality, large-scale and high-tech projects which can create favourable conditions for Vietnamese enterprises to participate in the value chain associated with human resource training, research and development, and the promotion of the digital economy.