PM demands greater quality FDI

Prime Minister Nguyen Tan Dung has demanded the strict management of foreign direct investment nationwide.

Dung’s directive aims to improve the quality of foreign direct investment (FDI) projects and encourage projects which apply state-of-art and environmental friendly technologies.

New FDI projects must effectively utilise natural resources, reinforce linkages with domestic enterprises, and lure more investment into auxiliary industries, agriculture, preferential services, IT and hi-tech industries.

Dung ordered local authorities not to grant investment certificates to energy and natural resource intensive projects. Projects which use outdated technology and pollute the environment are also prohibited.

Dung asked ministries and local authorities to make preferential investment policies and “improve

the quality” FDI appraisements as well as effectively apply investment certification and management decentralisation procedures.

Dung noted the importance of efficient FDI flow management as well as inspection of large-scale projects.

The Ministry of Planning and Investment was assigned to work with other ministries and localities to raise the efficiency of FDI attraction, spending, and management during 2011-2020. Meanwhile, the Ministry of Industry and Trade is in charge of drafting a project to better state management and FDI focus in the areas of supporting industries, electricity and commerce during 2011-2020.

The Ministry of Natural Resources and Environment is responsible for raising the efficiency of the state management in the areas of land, environment, and consumption of natural resources and minerals. – VIR

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