(FDI) and target quality investors as the competition to attract
investment becomes fiercer at both regional and international levels.
The Chairman of the Association of Foreign Invested Enterprises, Dr.
Nguyen Mai, stated this after witnessing the slow progress of a number
of FDI projects, with capital of several billion USD. A number of
projects have already almost had their investment certificates
withdrawn.
In an interview granted to the Lao Dong
(Labour) daily issued on August 25, Do Nhat Hoang, Head of the Foreign
Investment Agency (FIA), said that the agency has conducted an
inspection of 24 projects captalised with more than one billion USD
across the country to select eligible investors.
Accordingly, the FIA will withdraw the licenses of virtual projects and
not grant certificates to investors with only a limited capacity, said
Hoang. However it will still consider supporting projects which are only
now slowly making progress, due to the impact of the global economic
crisis, or projects that have faced unexpected difficulties.
This year, the Ministry of Planning and Investment (MPI) plans to
select and guide FDI projects into pivotal areas such as supporting
industries, infrastructure development, the manufacture of high export
value products and human resources projects in line with restructuring
the economy.
However, said Hoang, to reach the
target, more effort and responsibility are needed from the MPI as well as
local agencies to attract more investment.
Therefore, localities need to improve their ability to appraise projects
and the capacity of investors, while holding legal responsibility,
instead of taking a back seat and performing only supervisory tasks.
According to the MPI, Vietnam will attract about 21 billion USD in
FDI this year and disburse 14-15 billion USD during the global
economy’s recovery./.
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