Vinh Phuc (VNA) – Deputy Prime Minister Trinh Dinh Dung chaired a consultationconference on foreign investment attraction and orientations in the northernprovince of Vinh Phuc on December 21, during which he affirmed that attractingforeign investment is a consistent policy of the Vietnamese Party and State.

The FDI sector hascontributed to boosting technological reform, increasing labour productivityand product quality, creating more jobs, and fostering economic growth, Dungaffirmed.

To better attractforeign investment, he stressed the need for localities nationwide to prepare thefoundations for construction planning, combine the planning of industrial zoneswith urban planning, upgrade infrastructure, and step up connectivity.

Localities shouldensure the interests of locals when conducting ground clearance to serveconstruction of industrial zones, while continuing to speed up administrativeprocedure reform, investing in human resources development, and ensuringsecurity and order at foreign-invested areas, he suggested.

The Deputy PM alsoexpressed his hope that foreign investors will strictly follow theircommitments and Vietnamese law, pay attention to developing technology, and coordinatewith Vietnamese enterprises to develop the support industry.

Deputy Minister ofPlanning and Investment Vu Dai Thang said that after 30 years, the FDI sectorhas become an important part of the Vietnamese economy as a dynamicallydeveloping sector which has made significant contributions to the country’ssocio-economic development.

As of November 2018,the country has around 27,000 foreign-invested projects from 128 nations andterritories, with a total registered capital of nearly 340 billion USD, ofwhich 188.8 billion USD was disbursed.

These projects focuson the industrial field, accounting for 57 percent of the total registeredcapital. Foreign investors were also present in all provinces and cities,mainly in the Red River and southeastern regions. Last year, the FDI sectorcontributed over 8 billion USD to the State budget, making up 17.1 percent ofthe total collection, and created jobs for 3.6 million direct labourers and 5-6million indirect ones.

According to TetsuFunayama, head of the Business Forum Committee under the Japanese BusinessAssociation in Vietnam, 65 percent of Japanese enterprises chose Vietnam as a topdestination in Southeast Asia, with most paying close attention to thecountry’s policies to developing the support industry.

Therefore, hesuggested Vietnam carry out more policies to boost the support industry andfacilitate Japanese investment in the country.

Japan and Vietnamshould expand cooperation in training Vietnamese experts, engineers, andtechnicians to improve the quality of human resources, he added.

At the conference,investment registration certificates were granted to several FDI projects inVinh Phuc province.–VNA