VN - bright spot in FDI attraction

At the online forum held on September 7

The event with entitled “Viet Nam – The Rising Star: Capitalising investment opportunities in Viet Nam post COVID-19” was jointly organised by the Ministry of Planning and Investment, the State Bank of Viet Nam (SBV) and Standard Chartered Bank.

Addressing the event, Minister of Planning and Investment Nguyen Chi Dung said that the COVID-19 pandemic and its devastating consequences have caused nations and international corporations to speed up the investment restructuring process to avoid the dependence on specific countries and partners.

Many countries around the world have issued preferential policies and strong support packages to retain and attract foreign investors and Viet Nam is no exception to that trend, Dung noted.

“With its existing competitive advantages along with strong reforms of the investment environment, increasing position in the international arena, and effective COVID-19 prevention measures, Viet Nam is being highly appreciated by the international community, becoming an attractive and safe investment destination for foreign investors,” he said.

Nirukt Sapru, CEO, Viet Nam and ASEAN & South Asia Cluster Markets, Standard Chartered said that, with strong fundamental factors such as a young, dynamic and tech-savvy population, the growing domestic market, the expanding middle class and an open economy, Viet Nam continues to offer attractive investment opportunities.

Governor of the State Bank of Viet Nam (SBV) Le Minh Hung emphasised that over the past 20 years Viet Nam has always been considered as an attractive destination by foreign investors thanks to many factors including political, economic and social stability and policies facilitating foreign investment.

As a State management agency in the monetary and banking sector, SBV has always focused on well performing the task of ensuring macro stability, currency stability, exchange rate stability, healthy development of the banking sector with high resilience, and meeting capital needs for economic development in a timely manner, Hung noted.

Amid the negative impacts of the COVID-19 pandemic, the Government and SBV have worked out flexible measures to promptly respond to the pandemic and ease its impacts on the economy.

In the coming time, Viet Nam will implement a proactive policy of FDI attraction towards quality, large-scale and high-tech projects which can create favourable conditions for Vietnamese enterprises to participate in the value chain associated with human resources training, research and development, and the promotion of the digital economy.

                                                                                        By Hoang Ha