FDI focus leans into sci-tech sphere for 2021-2025 phase A number of new foreign-invested projects have been licensed already this year. In the northern region, Foxconn received an investment certificate in January for its $270 million Fukang Technology factory in the northern province of Bac Giang. The move is part of the group’s plans to make $700 million investment in the country this year. In the central region, Nghe An province granted an investment certificate for Shenzhen tech company Everwin Precision’s $200 million project, while neighbouring Quang Binh also approved investment plans for 14 projects worth $1 billion. And in the south, Dong Nai province lured over $226 million in foreign-invested projects in the first two weeks of the year, making it the highest figure in the same period in the last five years. Nguyen Mai, chairman of the Vietnam Association of Foreign-Invested Enterprises told VIR, “This is a good signal. More will be coming if Vietnam properly prepares to welcome a new investment wave.” Fresh orientations According to the Ministry of Planning and Investment, foreign-invested enterprises are gradually recovering, and some even have planned expansions. Meanwhile, foreign-invested projects aiming to tap into trade agreements are heading to Vietnam. To prepare for the new wave of foreign direct investment (FDI), in draft socioeconomic development strategies and plans for the decade. a number of specific key tasks and measures have been worked out to improve the business climate, with creation of a breakthrough in regulatory reform being a focus. According to Nguyen Dinh Cung, member of the Prime Minister’s Economic Advisory Group, regulatory reform will be made to push innovations and digital transformation, as well as development of new products, services, and business models. The improvement of the business climate is the top issue among foreign investors, including members of the European Chamber of Commerce in …
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