MPI Proposes Law to Boost Investment in Vietnam
The Ministry of Planning and Investment (MPI) has submitted to the Government a draft law on the construction and implementation of an investment promotion program in the 2007-10 period.
The draft aims to spur foreign investment in the country by making the whole system more orderly and transparent.
According to MPI statistics, the country has about 120 investment management agencies, including the People’s Committees of provinces and cities, the management departments of industrial zones, processing zones, economic zones and high-technology zones.
However, there has been a lack of cooperation between the agencies and provinces, said the ministry, and this needs to be changed.
Foreign direct investment (FDI) into Vietnam reached over US$2.5 billion in the first three months of 2007, representing on-year growth of 22 per cent, according to the Foreign Investment Department under the MPI.
In March, the country licensed 71 projects a total registered capital of US$455 million. (Vneconomy)
Vietnamese
