FDI attraction flourished at the beginning of the year

Recently, Thai Nguyen Provincial People's Committee awarded the adjusted investment registration certificate to Samsung Electro-Mechanics Vietnam Co., Ltd (Samsung Electromechanical) with an additional capital of 920 million USD, bringing the total capital Samsung has invested. into this project amounted to 2.27 billion USD. So far, Samsung Group has invested 19.2 billion USD in Vietnam, becoming the largest foreign investor in Vietnam.

At the same time, the Ambassador of the Czech Republic to Vietnam and the representative of the leadership of Skoda Joint Stock Company (Czech Republic) had a meeting with the Ministry of Planning and Investment and the People's Committee of Quang Ninh Province to discuss the cooperation between the two countries. Investment in automobile manufacturing and assembling factory in Quang Ninh province.

 Industrial parks welcome the flow of investment capital to reposition production of many multinational companies

According to Mr. Ondrej Cerny - Director in charge of Russia and new markets (Skoda Automobile Joint Stock Company), the research and investment in production lines and construction of a car factory in Quang Ninh aims to bring the best technology. latest technology, ready to contribute more to Vietnam's auto industry. The project is expected to start operating from 2022.

The Ministry of Planning and Investment highly appreciates the investment desire of Skoda Joint Stock Company, thereby showing the potential and advantages of Vietnam's geopolitics and business environment.

According to Mr. Do Nhat Hoang - Director of Foreign Investment Department (Ministry of Planning and Investment), although the epidemic is still unpredictable, but Vietnam has many prospects to attract FDI. Currently, Vietnam welcomes the flow of investment capital to reposition production of many multinational companies. It is expected that foreign investment will still grow and break through in 2022, when countries are gradually opening up their economies to adapt to the new normal.

Mr. Alexander Goetz - Chairman of the German Business Association in Vietnam (GBA) cited the results of a recent survey conducted by the German Chamber of Commerce and Industry in Vietnam (AHK), saying that more than 65% of participating units The survey believes that Vietnam's economy will recover in 2022. Along with that, 50% of German businesses investing in Vietnam also said that they have plans to expand their business to diversify their supply chains. response, thereby reducing dependence on some markets.

Although Vietnam's opportunities to attract FDI are huge, the competition in attracting FDI among developing countries, with similarities in market, development level, technology, labor... is growing. increasingly harsh, especially in the context of global FDI in recent years has been narrowed by the impact of the Covid-19 pandemic. Many countries are looking to take advantage of external resources, including resources from FDI inflows, for economic recovery. Accordingly, in order to attract quality capital flows, Vietnam besides improving the investment and business environment, supplementing the clean land fund, reviewing the electricity planning, completing the transport infrastructure, focusing on developing development of supporting industries... need more policies and incentives to attract quality investment projects that have spillover effects to the domestic economic sector through building a healthy and favorable business environment beneficial to investors.

Currently, more than 141 countries and territories around the world have invested in Vietnam with more than 34,000 projects, with a total registered capital of 416 billion USD.