Pick FDI with care, warns Vietnam's Deputy PM
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HANOI - Deputy Prime Minister Vuong Dinh Hue said Vietnam must be selective in attracting foreign direct investment (FDI) to ensure it’s suitable for the nation’s economic restructuring and development of the private sector.
At a conference of the planning and investment sector held on Saturday in Nha Trang, Hue said careful selection of FDIs is pressing for Vietnam in order to achieve the annual growth target after below-par results in the first quarter.
“FDI should not be attracted at all costs. It’s time for Vietnam to be selective,” Hue said.
Specifically, he said, that Vietnam should attract FDI projects of high technology, having good governance and contributing to generating jobs and increasing income, as well as promoting the development of the private sector.
Statistics of the Foreign Investment Agency show that registered FDI totalled more than US$11.2 billion (Bt 392 billion) in the first half of this year, 105.4 per cent higher than in the same period last year. More than $7.2 billion were disbursed, up 15.1 per cent.
