PM: Continuing measures to attract and use FDI

VGP – Recently, the PM signed a document urging ministries, agencies and local authorities to continue solutions for luring and using FDI in line with the Government’s Resolution 13/NQ-CP dated April 7, 2009.

March 03, 2010 4:21 PM GMT+7

FDI disbursement in the first two months of 2010 increases 10% - Illustration photo

he Ministry of Planning and Investment and other competent agencies will make the list of solutions which are no longer appropriate to the real situations, then report to the PM.

As reported by the Foreign Investment Department, the attraction of FDI in the first two months of 2010 reached over US $1.78 billion, equivalent to 27.3% compared to the same period of 2009.

During this period, 88 new projects were licensed, with the total registered capital of US $1.61 billion (down 40.2% in value and 42.5% in the number of projects against the same period last year). The additional registered capital was US $165.2 million.

In January and February, 13 provinces lured new FDI projects, among them Bà Rịa-Vũng Tàu held the top position with US $924 million, followed by Hồ Chí Minh City (US $333.4 million); Bình Dương (US $212 million); Bắc Ninh (US $40.7 million); and Hải Dương (US $37 million).

The disbursement of FDI capital in the first two months was US $1.1 billion, up 10% against the same period.

Under Resolution 13/NQ-CP dated April 7, 2009, the Government asks ministries, sectors and local authorities to observe six solutions to lure and manage FDI:

First, to further revise and supplement policies on investment, business, and incentives;

Second, to publicize all approved planning schemes and speed up the site clearance work;

Third, to review, approve and publicize the planning schemes on infrastructure to 2020, to mobilize all resources for infrastructure development;

Fourth, to finalize legal documents on cooperation in education and training, to restructure labor framework, and qualify laborers, especially farmers whose lands are revoked for FDI projects;

Fifth, the central and local authorities to work closely together in licensing and managing FDI projects;

Sixth, to propose policies to mobilize and attract investment from multi-national groups; to found central and local investment promotion agencies.

Other solutions include accelerating administrative procedures reform, combating corruption, and maintaining regular dialogues between the Government and investors.

By Phương Hạnh