Hanoi (VNA) The Government has given drastic instructions on how to improve Vietnam’s preparedness in terms of institutions, infrastructure and human resources, in order to attract even more foreign investments, underlined Deputy Minister of Planning and Investment Do Thanh Trung.
During the Government’s regular press conference in April 2024, Do Thanh Trung reported that a series of large corporations are coming to the country to study the national market. Vietnam is making enormous efforts to attract the attention of foreign companies, especially in industries such as electronics and semiconductors, he said.
Foreign groups’ investment in Vietnam depends on many factors, of which objective and subjective factors and Vietnam’s readiness are the main ones. Objective factors include the geopolitical and economic situation in the world, the region and Vietnam, investment trends and the movement of supply chains between countries around the world, he shared.
Subjective factors depend on investment strategies, investment and development goals, evaluation of the level and suitability of each locality, each region, resources and implementation capacity, he added.
The third factor has to do with Vietnam’s willingness to attract these companies, especially institutions, infrastructure and human resources, he reiterated.
The official emphasized that in terms of institutions, the country has made positive progress, increasingly perfecting legal policies, political mechanisms and the business environment.
Currently, the Indochinese nation has investigated a special incentive mechanism to attract more foreign corporations, particularly those specialized in technology, semiconductor, electronics and chip industries, he noted.
Regarding the infrastructural bases, he indicated that he has made efforts to guarantee the best transportation system, including land, river and air routes, and the infrastructure for production, especially electricity.
In parallel, it has focused on the development of high-tech parks and national innovation centers, with a view to creating an even more outstanding environment and institutions, which facilitates the activities of foreign companies in the country, he noted.
Referring to human resources, Do Thanh Trung said that Vietnam has sought to develop specific programs, especially the training project for 50,000 engineers serving the semiconductor industry.
Furthermore, one of the factors appreciated by foreign corporations is the Government’s determination to pursue the development of the semiconductor and chip industry, focusing on potential partners, including the United States, he clarified.
It is expected that the efforts of the Government and agencies will contribute to achieving greater successes in the future in the matter, he concluded./.
