To ease the impact of the global economic crisis on foreign direct investment in Vietnam, the Government has ordered ministries and other agencies at all levels to immediately implement six measures outlined in a resolution it released on April 7.

Resolution 13/NQ-CP says the crisis has been slowing down foreign investment around the world, especially Vietnam, and lists the following measures to mitigate the problem:

• Review all FDI policies to make amendments or supplements if necessary to offer new incentives to investors in some areas and speed up disbursement

• Publicly announce investment plans and programs the Government has approved, speed up land acquisition and site clearance for projects and strictly comply with investment planning regulations.

• Re-examine, amend, and finalize plans to develop infrastructure by 2020, mobilize resources for infrastructure development, improve the competitiveness of ports, and call for more investment in ports situated in major economic zones.

• Review and finalize regulations on investment cooperation in the field of education and training to create favorable conditions for attracting FDI into workers’ training, revamp the workforce to better fit the country’s economic needs, and improve the skills of workers and farmers – especially those whose lands have been acquired for projects.

• Improve coordination between the Government and local authorities to enhance oversight of FDI activities. Importantly, improve coordination in issuing licenses, managing FDI projects, training FDI managers, and decentralizing management.

• Study and develop common investment policies for multinationals as well as specific policies for each of them and their key partners, provide more detailed information about projects seeking FDI by 2010, and set up agencies in charge of promoting investment at the central and local levels.

The resolution says the government will also continue to speed up administrative reform, step up the fight against corruption, strengthen dialogue between official agencies and investors – particularly through regular business forums -- and make inspections more efficient.

(Source: SGGP/VNA)