Vietnam adopts strategy on foreign investment co-operation by 2030

4/6/2022| 22:24

The nation is set to raise the proportion of registered foreign investment flows from certain countries and territories to over 70% during the 2021 to 2025 period before rising to 75% in the 2026 to 2030.

Vietnam adopts strategy on foreign investment co-operation by 2030

 This target has been set out in a 10-year national strategy on foreign investment co-operation which recently approved by Deputy Prime Minister Pham Binh Minh.

The countries and territories part of the plan in Asia include the Republic of Korea, Japan, Singapore, China, Taiwan (China), Malaysia, Thailand, India, Indonesia, and the Philippines, whilst those in Europe include France, Germany, Italy, Spain, Russia and the UK, in addition to the United States.

The strategy also seeks to increase the number of multinationals listed in Fortune Global 500 conducting business in Vietnam by 50% by 2030.

The nation is also aiming to turn itself into ASEAN’s top 3 and the world’s top 60 nations in terms of the World Bank’s Ease of Doing Business rankings.

The strategy outlines nine solutions aimed at boosting the efficiency of foreign investment co-operation in Vietnam, the most notable one of which is developing innovation ecosystems, fostering supporting industries, and supporting domestic firms to form joint ventures with foreign enterprises in hi-tech sectors. This is in addition to assisting domestic companies in properly evaluating, selecting, and receiving technology transfer from overseas.