Area association needed for foreign investment promotion

In 2010, despite difficult economic times and reduced foreign investment capital flows from developed countries, Vietnam remained a bright spot in attracting investment. The southern provinces continued to show their strength in FDI attraction, especially those located in the vicinity of Ho Chi Minh City including Dong Nai, Binh Duong and Ba Ria - Vung Tau. Particularly, Dong Nai always lies in the top attracting foreign investment, ranking third after Ho Chi Minh City and Hai Duong.

The conference looked back on foreign investment attraction

Despite quite a lot achievements,  a lack of association in the promotion programs at the local level is visible.

Van said, "it does not make sense that all localities have their own promotion programs but there are no association among them. This results in waste and inability to take advantage of strong points of the region and the localities in investment attraction ."

Nguyen Thi Bich Van discussed investment promotion programs with enterprises

She claimed that it was necessary to review the “story” in which investment projects were overlapped, promotion programs were massive and duplicated - five or six localities ran promotion programs in one country. She said that it was time for selective projects, no longer for massive investment and that areas such as supporting industries, energy saving, eco-friendly energy were increasingly encouraged with clear. investment incentives . Promotion in a general way was backward so  localities should build a common program if they want to be successful.

Japanese Investment Promotion Conference in Dong Nai

Besides the lack of association, inability to provide specific information for each program and project is still a weakness of Vietnam.

"While partners need specific and clear information to deploy projects, localities give information which is in a little amount or general rather than specific,” said Van.

Luu Huu Quang Huy - Head of Investment Promotion at Vietnam Embassy in Japan said, "Detailed information about the project is very important such as specific boundaries, infrastructure elements and whether local attraction policies meet the requirements of investors. Moreover, Followed-up planning should be re-determined after managing to invite them for investment."

Reported by Thanh Minh, Translated by Minh Minh