25 billion USD of FDI capital registered in Vietnam in the first 9 months of this year. Localities are focusing on “acceleration” solutions, prioritizing green capital flows, aiming for sustainable growth.
25 billion USD of foreign direct investment (FDI) registered in Vietnam in the first 9 months of this year has contributed positively to economic growth . Entering the 4th quarter is a challenging period, when it is necessary to attract about 15 billion USD more, to achieve the target of attracting FDI for the whole year of 40 billion USD. Currently, localities are focusing on “acceleration” solutions, in which priority is given to green capital flows , towards sustainable growth .
One of the factories has just been invested in, ensuring the greening of both production processes and technology. Greening is also a mandatory requirement when entering this industrial park.
Mr. Nishino Hiroshi – Director of Daikin Vietnam factory, Hung Yen branch said: “The entire solar power system is meeting about 40% of the electricity consumption of the entire factory. We are cooperating with the industrial park to expand solar power production, and also hope to have more mechanisms to allow the use of green energy “.
Each province and city is choosing its own path to exploit comparative advantages in attracting foreign investment . For Bac Ninh, the locality leading the country in attracting FDI for many consecutive months, solutions to attract high-quality capital flows and greening are emphasized. Meanwhile, Hai Phong is creating new competitive advantages from institutional reform and preparing clean land funds to welcome leading enterprises.
Mr. Nguyen Duc Cao – Deputy Head of Bac Ninh Industrial Park Management Board said: “We will screen right from the beginning to select large leading investors, investors in electricity, electronics and semiconductors, high technology, and pharmaceuticals”.
“The city has submitted to the Government the establishment of a coastal economic zone in the south of Hai Phong City with an area of about 20,000 hectares, expanding the development space for Hai Phong City,” said Mr. Bui Ngoc Hai – Deputy Head of the Hai Phong Economic Zone Management Board.
There are many factors that affect investment attraction such as: Infrastructure; human resources; quality of public services. Of which, investment policy and human resources have the greatest impact.
Mr. Shantanu Chakraborty – ADB Country Director in Vietnam said: “The quality of foreign investment flows is the investment and value creation through technology transfer and human resource training. Localities need to form connections with businesses in human resource training, or improve the capacity of Vietnamese businesses to participate in the production chain”.
According to the Ministry of Planning and Investment, Vietnam has formed a large-scale semiconductor and artificial intelligence ecosystem in the region. With efforts to improve institutions and nurture human resources, localities will have more opportunities to welcome abundant investment waves, realizing the aspiration to rise up and turn Vietnam into a high-tech manufacturing center of Asia.