Patrick Gilabert, UNIDO Chief Representative said that the results of a survey conducted of industry in Vietnam, reflect that 1,500 local and FDI businesses reported preferential incentives were a key factor in their decision to invest.
FDI busineses listed preferential tax and other incentives, political stability and favourable business climate as the four primary factors affecting their decision to invest in the country.
Deputy Director of the Foreign Investment Agency, Dang Xuan Quang, said that to lure more foreign investment capital, relevant governmental agencies need to strengthen communication with the business community to insure that proper incentives in accordance with the international norms and the real situation in Vietnam are negotiated.
In addition, it is necessary to insure that high importance is attached to negotiating incentives in a timely manner to attract state-of-the-art large-scale foreign-invested projects, Quang said, adding that time is money and FDI businesses are dissuaded from investing when the time delay in negotiating offsets the benefits.
The event was co-organised by from the United Nations Industrial Development Organisation (UNIDO) and the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.