Management over FDI projects Tightened

Prime Minister Nguyễn Tấn Dũng has released a directive requesting tougher management of FDI projects nationwide.

The Directive aims to improve the quality and efficiency of FDI projects in accordance with the Socio-Economic Development Strategy for 2011-2020 and prioritizes projects which apply state-of-art and environmentally-friendly technologies.

The FDI projects have to effectively utilize natural resources, reinforce linkages with domestic enterprises, and lure more investment in auxiliary industries, agriculture, preferential services, IT and hi-tech industries.

The Directive prohibits projects which intend to invest in non-production sectors, waste natural resources, apply out-dated technologies, and pollute the environment.

*Key solutions

The Prime Minister asked ministries, ministerial-level agencies, and the People’s Committees to make preferential investment policies, improve the quality of drafting, assessment, and licensing of FDI projects, and apply decentralized procedures on investment certifications and management.

The Directive notes the importance of efficient management of FDI flows as well as inspection of large-scale projects.

The Ministry of Planning and Investment was assigned to work with other ministries and localities to map out the Project on orientations to raise the efficiency of FDI attraction, spending, and management in the period of 2011-2020.

The Ministry of Industry and Trade is in charge of drafting the Project to better the State management and FDI orientations in the areas of auxiliary industry, electricity and commerce in 2011-2020.

The Ministry of Natural Resources and Environment is responsible for composing the Project to raise the efficiency of the state management in the areas of land, environment, and consumption of natural resources and minerals./.

Tags: invest in Vietnam, Vietnam FDI, Vietnam FDI 2011, Vietnam investment