Vietnam's FDI likely to reach US$38 billion in 2023

VOV.VN - Vietnam is likely to attract roughly US$ 36-38 billion in foreign direct investment (FDI) this year, while last year’s figure neared US$22.4 billion, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Important factors for greater FDI attraction in 2023 include good economic growth results in 2022, efforts to improve the business investment environment, thus winning trust from investors and effectively exploit advantages from free trade agreements.

Besides, a foreign investment cooperation strategy has been submitted to the Government by the Ministry of Planning and Investment.

According to a plan set for 2023, as well as the 2021-2030 period, the countr y is set to attract high-tech projects with modern management and high added value to connect global production and supply chains.

In addition, it is necessary to build and develop innovation centers and financial centers of regional and international stature, in order to create the driving force for socio-economic development in the coming period.

Minister of Planning and Investment Nguyen Chi Dung said that a large number of Vietnamese startups are gradually growing, attracting greater capital over the years. These are good signs for the innovative startup ecosystem.

Investment in innovative start-ups has received great attention from the Government and management agencies, with the implementation of numerous support policies for small and medium-sized enterprises. Furthermore, a wide range of programs and projects to support national digital transformation and digital transformation for businesses have also been widely carried out.

"I think that investment funds and innovative businesses will be important partners of the Government and ministries in order to share, support and contribute ideas to making investment policies on investment for innovative start-ups, thereby helping Vietnam to have an increasingly attractive business environment in the region and in the world,” Chi Dung emphasized.

According to economic experts, attracting high-quality FDI is difficult. To successfully realize the goal of attracting FDI, not only for innovation activities, it is necessary to find breakthrough, effective and feasible solutions.

In addition to common solutions such as stabilizing the macro-economy, improving infrastructure, and improving human resources, in the coming time, Vietnam needs to build and develop an ecosystem of science - technology and innovation, with a flexible management mechanism, suitable for the business environment, especially in line with the strong ongoing digital transformation.

This is clearly a necessary condition not only for the target of US$38 billion in FDI in the Year of Cat and the following years.

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