The Prime Minister wrote an article introducing investment opportunities in Vietnam.

On May 23rd, the article "Vietnam - An Attractive Destination for Investors" by Prime Minister Nguyen Tan Dung was published on the official website of the World Economic Forum (WEF) 2014. The Government's online newspaper respectfully presents the full text of this article.

Attracting foreign direct investment (FDI) is a crucial external economic activity for Vietnam. Besides possessing numerous advantages and an attractive investment environment, Vietnam is striving to continue its success story in attracting FDI through a strong commitment to improving the business investment environment, considering the foreign-invested enterprise sector as a vital component of the economy, and viewing FDI as a decisive factor in restructuring the economy and increasing national competitiveness.

As of April 2014, the total number of active FDI projects in Vietnam was over 16,300, with a total actual investment capital of approximately US$238 billion. Around 100 countries and territories have investment projects, and over 100 leading multinational corporations are present in Vietnam. In 2013, FDI into Vietnam reached over US$22 billion, an increase of over 35% compared to 2012.

These figures demonstrate that Vietnam has become and continues to be an attractive destination for foreign investors.

There are many reasons for these successes.

An attractive investment environment

Firstly, Vietnam has always been a politically and socially stable country. As one of the most dynamically growing economies, Vietnam's average economic growth rate during the period 1991-2010 was approximately 7.5%, and even during the period 2011-2013, despite facing many difficulties, it still achieved 5.6%. Many international organizations predict that Vietnam's GDP will grow even more favorably in 2014-2015 and the following years.

Secondly, Vietnam is currently experiencing a "golden" demographic structure with 60% of its population in the working age group; it has a favorable geographical location, situated in the center of East Asia, a hub of many large and dynamic economies. Vietnam is a market economy, a member of the WTO, and has been participating in numerous international economic integration frameworks, including FTAs ​​with partners both within and outside the region. In particular, Vietnam is actively participating in negotiations for the Trans-Pacific Partnership (TPP). These are fundamental advantages that consistently attract investors.

Thirdly, the Vietnamese government is always committed to and acts to create a transparent, favorable, and equitable investment environment for foreign investors, and continuously improves the legal and institutional framework serving business and investment activities. In addition, the Vietnamese government has strived to implement a roadmap for economic restructuring and growth model transformation, including strong efforts to improve the investment and business environment and enhance national competitiveness.

Continuing the success story

In the medium and long term, Vietnam aims to continue strongly attracting and effectively utilizing FDI to promote socio-economic development. Vietnam's priority will be on "high-quality" FDI, specifically projects with modern, environmentally friendly technology, efficient resource utilization, competitive products, and the ability to participate in global production networks and value chains.

To continue its success story in attracting FDI, the Vietnamese government is committed to significantly improving the investment and business environment. Many comprehensive solutions have been put in place, with the Vietnamese government focusing on three "strategic breakthroughs" to be implemented from now until 2020: perfecting the market economy institutions and legal framework; building a synchronous and modern infrastructure system, especially transportation infrastructure; and developing high-quality human resources.

The Vietnamese government continues to seriously implement international commitments to which Vietnam is a member or participant; promoting negotiations and signing of new generation free trade agreements. In addition, considering the success of FDI enterprises as its own success, the Vietnamese government is committed to ensuring a stable political and social environment, protecting the legitimate rights and interests of investors, and creating all favorable conditions for FDI enterprises to operate in Vietnam.

According to forecasts from many international organizations, along with the recovery of the global economy, FDI flows are gradually recovering and will increase in dynamic economies. With the positive outlook for the global and regional economies, we welcome foreign investors, encourage you to continue choosing Vietnam, and are confident that you will succeed in our country.

According to chinhphu.vn