Strategy for Foreign Investment Cooperation in the period of 2021 - 2030

Accordingly, the overall goal of the Strategy for Foreign Investment Cooperation in the 2021-2030 period is to attract foreign investment projects using advanced, new and high-tech technologies of the fourth industrial revolution; modern management; high added value; positive spillover effects; connecting global production and supply chains; expanding the market; taking advantage of capital, technology, management knowledge, and corporate culture of the foreign investment sector; improving the competitiveness of the economy, enterprises, and domestic products; establishing and strengthening the role of Vietnamese enterprises in the international community; improving the efficiency and comprehensive quality in attracting and using foreign investment capital; increasing the contribution rate of the foreign investment sector in socio-economic development, commensurate with the incentives and supports enjoyed; and building and developing innovation centers and financial centers of regional and international stature, creating a driving force for socio-economic development in the coming period.

The specific goals are to complete the specific goals stated in Resolution No. 50-NQ/TW dated August 20, 2019 of the Politburo on orientations to perfect institutions and policies and improve quality and efficiency of foreign investment cooperation until 2030; increase the proportion of registered investment capital of countries and territories in some regions of the total foreign investment capital of the country to more than 70% in the period of 2021-2025 and 75% in the period of 2026-2030, including including: (i) Asia: Korea, Japan, Singapore, China, Taiwan (China), Malaysia, Thailand, India, Indonesia, Philippines; (ii) Europe: France, Germany, Italy, Spain, Russia, Great Britain; and (iii) Americas: United States of America; increase by 50% the number of multinational corporations in the group of 500 largest corporations in the world ranked by Fortune Magazine (USA) having presence and operations in Vietnam; by 2030, it will be in the group of 60 leading countries in the world according to the World Bank's ranking of the business environment.

VSIP Quang Ngai (Photo: http://ipc.quangngai.gov.vn/)

In order to achieve the above goal, the Strategy has proposed nine groups of solutions to improve the effectiveness of foreign investment cooperation, specifically as follows:

1. Effectively implementing the solutions provided

2. Improving the business investment environment, as well as the economy's quality, efficiency, and competitiveness

3. Creating a science, technology, and innovation ecosystem

4. Innovating and enhancing competition in attracting foreign investment

5. Developing supporting industries, promoting linkages and spreading

6. Improving the efficiency of foreign investment cooperation by building internal capacity and capitalizing on competitive advantages

7. Improving the efficiency of international economic integration and Vietnam's position in the international arena

8. Improving and broadening investment promotion

9. Increasing the effectiveness and efficiency with which the government manages foreign investment