Gov’t adopts solutions to attract foreign investment

The Government today issued six urgent solutions to further attract, fruitfully manage and use foreign investment capital in the context of the global economic crisis.

First of all, the Government urges ministries, sectors and local authorities to review and update regulations relating to investment and business, issue new preferential policies to encourage foreign investment and disbursement.

Secondly, all the approved planning schemes will be publicized and the site clearance sped up. The planning work must be carried out in line with the Law on Investment’s stipulations.

Regarding to infrastructure, Vietnam will review, revise, approve and publicize infrastructure planning schemes to 2020, mobilize all resources to develop infrastructure, enhance competitiveness of seaport system, especially big ones in key economic regions.

Fourth, the Government wants to perfect legal documents on investment cooperation in the field of education and training to facilitate foreign investors engaging in training laborers at all levels, restructure workforce and qualify local laborers.

In the time to come, the central and local authorities will closely cooperate in licensing and managing foreign-invested projects.

Last of all, the Government will design policies to allure multi-national corporations as well as key trade partners, disseminate information about key projects for foreign investors in 2006-2010, and set up investment promotion bodies at central and local levels.

Besides the above six solutions, the Government also vows to speed up administrative reforms, and anti-corruption; maintain regular dialogues between the Government and ministerial leaders and investors.