HANOI - Vietnam's Ministry
of Planning and Investment has proposed five sets of
measures to attract more foreign investment in 2005.
According to the ministry, foreign investment
disbursed in the 2001-04 period was estimated at US$10.2
billion, accounting for 91% of the target for the
2001-05 period, and the capital investment licensed in
the period was valued at $12.3 billion, 2.5% over the
five-year plan.
The measures include simplifying
administrative procedures, continuing to decentralize
administration, giving more responsibility to
localities, and improving the process of project
assessment.
Second, efforts will be focused on
removing barriers caused by planning, readjusting plans
to ensure that they are in accordance with bilateral and
multilateral agreements; issuing plans for non-planning
branches, such as planning to develop a network of
universities, colleges and vocational training schools;
and increasing investment in upgrading infrastructure
facilities.
Third, Vietnam will continue to
complete a system of laws and policies on foreign
investment, create a favorable investment environment,
ensuring that the laws are transparent and suitable to
the process of international integration.
Fourth, promoting the implementation of
foreign investment projects, checking licensed projects
under the government's August 28, 2001, decision on
increasing the attraction and effectiveness of foreign
investment in the 2001-05 period, in order to remove
obstacles to help businesses operate profitably.
Lastly,
boosting investment promotion. The Ministry
of Planning and Infrastructure should complete a
national list of projects calling for foreign investment
in the 2005-10 period; establish a national fund
for investment promotion; and effectively implement the
Vietnam-Japan initiative on raising competitiveness of
the Vietnam investment environment, and the
Vietnam-Singapore agreement on attracting investment
from a third country.
These efforts aim to
disburse $2.6 billion of foreign investment and
attract $4.2 billion of foreign investment in 2005.
(Asia Pulse/VNA)
Sep 1, 2004
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