PM meets foreign businesses to address concerns, seize opportunities

This is the second time this year the Government leader has met representatives of foreign direct investment (FDI) businesses in Vietnam, showing the government’s resolve to help the FDI sector overcome difficulties and operate efficiently amid global economic difficulties.

The conference that brought together leaders of the Government, ministries, sectors and localities, as well as foreign businesses is scheduled to look at the impact of the global and domestic economic developments on the investment climate and seek solutions to optimize FDI businesses’ performance in Vietnam.

The FDI sector plays an important role in Vietnam’s socio-economic development. It is encouraged to develop on an equal footing alongside other economic sectors, in order to bring into full play external resources, stimulate creativity, resonate with internal strengths, promptly seize opportunities, and improve the effectiveness of foreign investment cooperation.

According to the Ministry of Planning and Investment, Vietnam is currently the third largest economy in ASEAN with a GDP of over US$400 billion. It is also evaluated by international organizations as one of the successful countries in attracting FDI.

Despite global economic difficulties, Vietnam attracted US$20.21 billion in FDI capital over the past nine months of the year, representing a rise of 7.7% against the same period from last year. As of September 2023, businesses from as many as 144 countries and territories had pour investments into more than 38,300 projects worth US$455 billion in Vietnam.

Many foreign economic groups maintain that Vietnam has opportunities to become a manufacturing hub in the global supply chain. The international community believes that Vietnam plays an important role in promoting global trade, and many large investors have committed to expanding operations in Vietnam.