BizLIVE - Foreign investment flows into Vietnam have been rising steadily over the past years.
Vietnam’s 2017 FDI Inflow Forecast to Hit Fresh Record of over $16 Billion
Vietnam sees increasing foreign investment over the past years.
Actual foreign direct investment (FDI) in Vietnam is predicted to reach a new record high of over $16 billion this year, Deputy Minister of Planning and Investment Dang Huy Dong has told Bloomberg.
FDI commitments are expected to grow to $28 billion this year, the deputy minister added.
According to the ministry’s Foreign Investment Agency, pledged FDI in Vietnam last year reached $24.4 billion while overseas investors disbursed a record high of $15.8 billion, up 9% from a year earlier.
“We aim to draw more FDI into areas including export-oriented, energy and high-technology” sectors by building a more business-friendly environment, Dong said.
Amidst a regional race for FDI inflows, the Vietnamese government is striving to improve the investment climate by streamlining red tape and reducing unofficial costs. The Vietnamese central bank last month cut a number of key policy interest rates for the first times in three years to stimulate borrowing.
Pro-business Prime Minister Nguyen Xuan Phuc last week formed an economic advisory team which consists of Vietnamese economists and researchers from universities in Japan, the U.S., France and Singapore. He has several times chaired dialogues with the business community in the country.