News » Vietnam
Gov’t to set up special task force to deal with investment bottlenecks
  • | VGP | May 23, 2020 10:03 AM
Prime Minister Nguyen Xuan Phuc agreed to establish a special task force responsible for fixing investment bottlenecks as part of the Government's drastic efforts to improve investment climate, while he was presiding over a meeting Friday.



Prime Minister Nguyen Xuan Phuc presides over a meeting on Friday to discuss prospect and measures to lure foreign investment in post COVID-19 pandemic world. Photo: VGP


The task force, led by Minister of Planning and Investment, will focus on quick handling of investment procedures, particularly those related to site clearance.

The Government chief underlined the necessity to have competitive incentives to lure foreign investment in post COVID-19 pandemic world, but foreign investment attraction must be selective, giving priority to multinational corporations, high, modern and environmentally-friendly technologies.

Economic experts said foreign investors see Viet Nam as a safe investment destination that is better positioned to harness a new wave of foreign investment, especially information technology, electronics, e-commerce and logistics, and retail sales.

The Vietnamese econony expanded 3.82% in the first quarter this year, the lowest of all first-quarter figures in ten years, however, this is still a remarkable rate given the current situation all over the world.

Foreign investment inflows witnessed steep fall of 15.5% to US$12.3 billion and disbursed value of foreign investment capital decreased by 9.6% to US$5.2 billion in the first quarter, according the General Statistics Office.

Given the above performance, the World Bank said Viet Nam has managed to sustain a sound foundation, one of the best in ASEAN and Asia. Among the ASEAN-5 countries, Viet Nam has the best prospect for growth./

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