The nation targets high quality foreign investment projects in 2016

(VOV) -Vietnam faces new opportunities and challenges this year following the coming into force of its free trade agreements (FTAs) with the Republic of Korea, the Eurasia Economic Union and the establishment of the ASEAN Community.

Minister of Planning and Investment Bui Quang Vinh said Vietnam should be selective in welcoming foreign investment projects of high quality, modern and environmentally friendly technologies.

the nation targets high quality foreign investment projects in 2016 hinh 0

“The Ministry of Planning and Investment will advocate high quality FID projects in Vietnam to fuel national development and create more jobs. We will raise the positions of local businesses to get them connected to small and medium and enterprises and FDI companies to boost technological transfer," he said.

The Ministry of Planning and Investment’s Foreign Investment Agency reports that there were more than US$22.7 billion of foreign investment in Vietnam in 2015, a 12.5% increase over the previous year.

The Republic of Kore, Japan, Britain and Singapore are the top foreign investors in the Southeast Asian nation.