The Hanoitimes - Vietnam will actively and selectively attract foreign investments, taking high-quality, efficiency, modern technology and environmental protection as the key benchmarks. Vietnam is looking to attract investors from Japan and South Korea into the country’s supporting industries as the localization rate of the sector is quite low compared to some countries in the region, according to General Director of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment Do Nhat Hoang. Overview of the signing ceremony. “To create favorable conditions for businesses who want to invest or expand their footprint in Vietnam, we have established a task force with the aim of solving every hurdle they are facing,” Mr. Hoang said at a signing ceremony of a Memorandum of Understanding (MoU) between the FIA and Ernst & Young Vietnam Limited (EY Vietnam) on October 6. The MoU targets promoting investment opportunities towards the investors including EY clients across the globe, paving the way for their new and/ or expanded investment in Vietnam. Under the MoU, FIA will provide EY Vietnam with updated information on directions and policies to draw investment into Vietnam. The agency also assists investors introduced by EY Vietnam to conduct researches and implement business-investment procedures in accordance with the law; endorse, resolve or forward the investors’ recommendations to the relevant authorities. On the other hand, EY Vietnam will introduce and recommend potential investors who are EY clients globally to invest in Vietnam, especially those from Japan and South Korea, countries that have the largest FDI value realized in Vietnam. Additionally, EY may coordinate with the FIA to organize seminars, conferences and round-table discussions for investors introduced by EY, depending on the scale and features of each event. EY Capital Confidence Barometer’s survey conducted in early 2020 indicated that 74% …
[Read more...] about Vietnam seeks investments from Japan, S.Korea into supporting industries