Politburo issues Resolution on promoting foreign investment efficiency

The resolution targets to finalize competitive and internationally integrated foreign investment mechanisms and policies in order to meet requirements for growth modal transformation, economic restructuring, environmental protection, settlement of social issues, enhancement of productivity, quality, efficiency, and competitiveness. 

The resolution aims to fundamentally amend existing shortcomings and obstacles in building, perfecting, and implementing mechanisms and policies on foreign investment cooperation; create the business environment and competitiveness that can belong to  the ASEAN 4 group before 2021 and the ASEAN 3 group before 2030. 

Specific goals

The resolution sets key norms for foreign investment sector. 

In the 2021-2025 period, foreign investment registration would reach about US$ 150-200 billion (US$ 30-40 billion per year). In the 2026-2030 period, foreign investment registration would touch US$200-300 billion (US$ 30-40 billion per year). 

By 2025, 50% of enterprises will use advance technology, modern administration, protect the environment towards high-tech. By 2030, the rate will reach 100%.

Localization rate will increase from 20-25% at present to 30% by 2025 and 40% by 2030.

The proportion of trained laborers will increase from 56% in 2017 to 70% by 2025 and 80% by 2030.

Core measures

The resolution prescribed a series of core tasks and measures including perfecting mechanisms and policies on foreign investment; foreign investment attraction, protection of foreign investors, enhancement of their responsibilities, investment management and supervision, investment promotion, State management efficiency of foreign investment, development of Party leadership and roles of the Viet Nam Fatherland Front, socio-political associations on foreign investment./.

By Kim Loan