Vietnam focuses on making full use of strengths of all economic sectors to promote investment activities in such traditional markets as Laos, Cambodia, ASEAN countries, Russia, while expanding operations to new markets, including Latin America, East Europe and Africa.
PM Nguyễn Tấn Dũng yesterday ratified a project on promoting Vietnam’s overseas investment, defining both prioritized fields and solutions to boost up this work.
Accordingly, projects on energy, electricity power, petroleum, mining, and cultivation of industrial crops will be prioritized and provided with incentives. Investment projects conducted abroad to meet the domestic demands for input materials are also encouraged.
The Government chief placed importance on further building and perfecting legal framework and policies on overseas investment. He also emphasized administrative reforms in this field through simplifying procedures, diversifying projects, minimizing administrative interventions, and increasing investors’ accountability and responsibility.
It is necessary to pay attention to providing enterprises with information about the destination markets’ investment environment and policies as well as protecting their interests, said the PM.
The Premier asked the Ministry of Planning and Investment to make a list of prioritized markets, preferential policies, and incentives.
The Ministry was also assigned to map out overseas investment promoting programs and insert overseas investment into the National Program on Investment Promotion.
The Ministry of Finance will issue more preferential mechanisms with numerous financial and credit incentives and submit these to the PM within the year.
|
Since its official admission to WTO, for the first time, Vietnam outlines a plan on overseas investment to provide orientations and favorable conditions to Vietnamese enterprises to do fruitful and safe investments abroad.
Up to December 2008, Vietnam had 368 valid projects in other countries, with the total registered capital of US $4.39 billion, of which 27% was disbursed (US $1.2 billion).
Vietnamese enterprises have invested in 43 countries and territories. In Asia, there are 257 projects, worth of US $2.852 billion, accounting for 69.8% of the number of projects and 64.9% of the total capital, Africa 10 projects and US $291.3 million, Russia 17 projects and US $945 million, and the US 40 projects and US $80 million.
|