Creating breakthrough solutions to attract large-scale FDI projects

It needs solutions to attract large-scale FDI. Illustration photo: H.Diu

According to data from the Ministry of Planning and Investment (MPI), total registered FDI capital in the first two months of 2024 reached nearly US $4.3 billion, an increase of 38.6% over the same period last year, of which newly registered capital reaching US $3.6 billion, an increase of 55.2% over the same period in 2022.

Furthermore, investment in the processing and manufacturing industry reached US $2.54 billion, accounting for 59.1% of total registered investment capital; Realized capital reached US $2.8 billion, an increase of 9.8%. The Ministry of Planning and Investment said that these numbers demonstrate the confidence of FDI enterprises in the prospects of growth recovery, stability and attractiveness of Vietnam's investment environment.

Emphasizing these results, at the regular Government press conference on the afternoon of March 2, Deputy Minister of Planning and Investment Tran Quoc Phuong said that FDI capital in the first two months of 2024 has a very high ratio of new capital and projects. The reason is thanks to the continued success of attracting FDI in the last months of 2023.

Deputy Minister Tran Quoc Phuong explained that in the last six months of the year, Vietnam has recovered strongly and achieved growth in attracting FDI, thanks to political stability, security and macroeconomics in Vietnam, the high-level diplomatic trip; At the same time, foreign investors see and evaluate the potential and prospects of Vietnam's economy in the coming years, considering Vietnam to be a very attractive destination.

Regarding breakthrough solutions to attract large-scale FDI projects and large investors, at the press conference, the Deputy Minister of Planning and Investment said that the Government has assigned tasks to ministries and branches regarding responsibilities attracting FDI in the fields of science and technology, innovation, especially semiconductor chips as well as new industries.

According to the Deputy Minister, in Vietnam, FDI investors are interested in infrastructure and land, especially large projects. Therefore, the solution for this field is to focus on continuing to improve and accelerate the progress of large-scale infrastructure projects and especially immediately deploy guiding documents for early implementation in the coming days of the Land Law takes effect.

Another issue of concern to FDI investors is human resources. Currently, the Ministry of Planning and Investment and the Ministry of Education and Training are urgently completing a project to strive to train about 100,000 workers, laborers as well as engineers in the field of innovation and semiconductor chips, of which There are 50,000 specifically for the semiconductor chip sector.

According to Deputy Minister Nguyen Quoc Phuong, large investors have very high demands on human resources. Although Vietnam has the advantage of abundant human resources and a golden population, it needs to focus more on the qualifications and skills of workers.

Another area that FDI investors are interested in is the institutional sector. According to the representative of the Ministry of Planning and Investment, in recent times, the Government has submitted and received approval from the National Assembly for many new and groundbreaking policies that have a positive impact on growth and investment attraction such as the Land Law and the Law on Investment Bidding and other laws. There are also regulations on immigration and visas... But in the coming time, there is a need for encouraging policies as well as creating maximum conditions for large-scale investors to carry out big projects in Vietnam.