Gov’t discusses orientations to raise FDI efficiency

January 03, 2013 | 16:35

(0) user say

The government deliberated on a project on orientations to raise the efficiency of foreign direct investment (FDI) attraction, use, and management till 2020 during its recent regular meeting.

The cabinet members agreed that over the past years, FDI has brought in huge outcomes, having broad influence on all economic sectors, supplementing and stimulating domestic investment resources.

The FDI also contributed to accelerating the economic shift, renovating technology, improving the country’s international economic integration capacity, perfecting the institution for the market economy and spurring socio-economic development, the government said in its new resolution.

However, FDI attraction has yet fulfilled the preset target and failed to match with national potentials and State management over the sector has been inefficient.

To improve the quality, efficiency and status of FDI in the coming time, it requires the urgent settlement of shortcomings and weaknesses in the attraction and management work and improves the investment environment towards higher competitiveness especially in a time when the country is undertaking the economic restructuring and growth model renovation.

The government tasked the Ministry of Planning and Investment (MPI) to collect comments from government members and finalise the project with clearer definition of mechanisms, policies, and criteria to attract selectively FDI projects, especially those using high technology and clean energy that consume less energy but have high added value and high socio-economic benefits.

The MPI is responsible for working with the Office of the Government and related agencies to finalise the government’s draft resolution on orientations to raise the efficiency of FDI attraction, use, and management till 2020 together with clear regulations on specific mechanisms and policies.

VGP

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional