Working group established to promote foreign investment

A working group has just been founded under the Prime Minister’s decision to promote foreign investment in Vietnam.

working group established to promote foreign investment hinh 0
A sock production line of the Chinese-invested Jasan Vietnam Co. Ltd in the VSIP Hai Phong Industrial Park

The working group is led by Deputy Prime Minister and Minister of Foreign Affairs Pham Binh Minh. 

Other members are from the Ministry of Planning and Investment; the Government Office, the Ministry of Foreign Affairs; the Ministry of Public Security; the Ministry of Finance; the Ministry of Industry and Trade; the Ministry of Agriculture and Rural Development; the Ministry of Science and Technology; the Ministry of Culture, Sports and Tourism; the Ministry of Labour, Invalids and Social Affairs; the Ministry of Information and Communications; and the State Bank of Vietnam.

The working group is in charge of advising the PM on mechanisms, policies and standards in investment cooperation as well as solutions to capture investment cooperation opportunities.

It will be proactive in approaching and negotiating with large and hi-tech corporations for cooperation for mutual benefits.

Besides, investment promotion activities will be carried out in both Vietnam and overseas by the group to attract quality, large, hi-tech and innovative projects, which could create favourable conditions for Vietnamese firms to participate in value chains and stages that generate high added values, and improve human resource quality.

The working group is also responsible for promoting a digital economy and contributing to the country’s sustainable socio-economic development.

Under the decision, it has the right to propose policies, regulations and support packages for specific projects to the PM, based on the mutually beneficial principle.

It is also empowered to request ministries, ministry-level agencies, and provincial and municipal People’s Committees to provide information and cooperate in promoting and implementing projects.

VNA