Vietnam to finalise legal corridors conducive to investors

Sharing the view, head of the Foreign Investment Agency Do Nhat Hoang said more needs to be done to reform administrative procedures while improving infrastructure, the support industry and labour training. 
Ensuring the benefits of information and biological technology are brought to the farming sector is also a priority, he added. 

Chairwoman of the Council of the Taiwanese Chamber of Commerce in Vietnam Liu Mei-teh, meanwhile, voiced her opinion that the territory expects its investors, workers and the Vietnamese Government to reach a common consensus and coordinate more closely for their mutual benefit. 

Roman Kuebler, General Director of B.Brauns Vietnam, expressed his hope for a more transparent investment policy, as the company is looking to raise its stake to US$270 million in the country. 

A majority of enterprises here are hopeful that Vietnam will sign a number of trade agreements as planned, Regional Manager of International Finance Corporation for Vietnam, Laos, Cambodia and Thailand, Simon Andrews, declared. 

Many localities suggested taking in large-scale foreign-invested projects that produce highly-competitive products, making it easier for them to join the global value chain. 

With 101 countries and territories flocking as investors, Vietnam recorded over 16,300 valid projects worth some US$237 billion as of May 2014. 

Last year, the total registered capital annually rose by 36.7 percent to US$22.35 billion, while US$11.5 billion went was disbursed, up 9.9 percent. 

In the first five months of this year, the foreign direct investment (FDI) inflow hit US$5.5 billion, with US$4.6 billion already spent, a year-on-year rise of 0.4 percent. 

According to economists, Vietnam still lags behind other regional countries in terms of FDI attraction. Projects in the US$100-500 million range make up for 1.51 percent while those worth US$500 million – 1 billion or more account for a mere 0.19 percent and 0.2 percent, respectively.