The Vietnamese Party and State have issued new guidelines and policies on overseas Vietnamese, always emphasising that overseas Vietnamese are an important and indispensable part of the Vietnamese nation and the country’s common development.

Every year, Party and State leaders and local authorities organise New Year home-comings for Vietnamese nationals in the hope that they will understand the real situation at home and join hands with the entire Party and people to build Vietnam into a powerful, prosperous and democratic country. This year, a welcome ceremony for overseas Vietnamese returning home for Tet will be held at the National Convention Centre in Hanoi on February 9 (the 22^nd  lunar December), it is expected to attract a record number of around 1,000.

2006 was a year which made new breakthroughs in Vietnam’s Doi Moi (Renovation) and international integration process, with notable events such as the successful organisation of the 14^th APEC Economic Leaders’ Meeting, the country’s becoming the 150^th member of the World Trade Organisation (WTO), and the US approval of Permanent Normal Trade Relations (PNTR) with Vietnam. These events have added to the successes the country has achieved during the 20 years of renovation in line with the Party and State’s correct guidelines and policies, which are winning the trust of Vietnamese nationals and international friends.

In recent years, relations between Vietnamese living in the country and those Vietnamese abroad have become closer through programmes and projects under which overseas Vietnamese have shared difficulties with those people suffering great losses from natural disasters such as Chanchu, Xangsane and Durian typhoons.

According to the Ministry of Planning and Investment, there are as many as 1,465 projects, worth VND4,925 billion (US$307.5 million), poured by overseas Vietnamese into the homeland under the Law on Encouraging Domestic Investment. Of 1,465 projects, 23 received certificates of investment preferential. 58 percent of projects focus on trade and services and the remainder on production.

In addition, there are 108 projects worth US$382.8 million invested by overseas Vietnamese businessmen to the country under the Law on Foreign Investment.

In 2006, overseas remittances hit a record high of more than US$4.7 billion, demonstrating the Government’s effective investment attraction policy, as well as overseas Vietnamese’s greater confidence in doing business in the homeland.

However, attracting and making full use of Overseas Vietnamese investment in intellectual and scientific projects remained limited last year. This requires more interest from local authorities in the process of national construction and development.

Over the past few years, cumbersome procedures arising from dual-price and investment policies have been addressed. However, there remain certain snags in some localities. To better lure overseas Vietnamese investment, it is necessary to continue building more open and transparent policies and improving the investment environment. At the same time, individuals who abuse Party and State policies to line their pockets will be strictly punished.

The increasing number of overseas Vietnamese people returning to the homeland in recent years has not only provided impetus for the country to develop, but also served as a bridge between domestic and overseas Vietnamese and international friends. The Tet celebration is becoming more and more significant for both domestic and overseas Vietnamese as it helps to bring them closer together.