Vietnam Should Develop Service Industry to Attract More Investors: Official
Vietnam should further develop its service industry, especially hi-tech ones to attract more foreign investors, said Deputy General Director of KPMG in Vietnam Nguyen Cong Ai.
Foreign investors are very interested in the sector because it generates high profits and trains professional human resources, he said.
Despite getting many preferences such tax incentives, cheap and abundant labor costs, many foreign firms hesitate to invest in the country due to the national limited capacity in providing services, he added.
The Southeast Asian country needs focus on improving infrastructure and logistic system which are considered bottlenecks hindering foreign investments, Ai highlighted.
Vietnam licensed 720 foreign-invested projects totaling $11.4 billion and allowed 153 existing projects to add their capital by $783 million in the first nine months of this year. Foreign investors disbursed $8 billion in the country during the period.
This year, the Southeast Asian country expects to attract $25 billion and disburse $11 billion in foreign direct investment this year up 16.38% and 10% on-year respectively. (Investment)
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