3 measures to promote foreign investment

According to the Foreign Investment Agency, is expected to total investment abroad by Vietnamese enterprises in 2008 will reach 500 million, up 20% compared to 2007
 By the end of 2007, Vietnamese enterprises have invested in 35 countries and territories, which are mainly in Asia, including 167 projects with a total investment of $ 751.03 million, accounting for 67 % of projects and 54% of the total registered capital.

The project has disbursed about $ 927 million, accounting for 66.6% of total foreign investment. In the industrial sector accounted for approximately 58.6% of total implemented capital and 60% of the total registered capital.

According to the Foreign Investment Agency, the period 2008 to 2010, foreign investment of Vietnamese businesses will average about $ 500 million / year.

Ministry of Planning and Investment has launched three solutions to promote foreign investment of Vietnamese businesses in the coming period.

First, the State urgently elaborate schemes of support mechanisms, incentives to promote foreign investment activities of enterprises in the country under the direction of the Prime Minister. Strengthening investment promotion in 2008 and the years to come in the key markets that Vietnam has advantages such as Laos, Russia, the United States, Cambodia ...

Accordingly, the programs must be conducted in investment promotion and market research, legal, policy, explore the environment and investment opportunities to drive Vietnamese businesses to invest effectively in the market this field.

In the near future the specialized agencies will submit to the Government for the decentralization of foreign investment to the foreign investment enterprise to operate. Also ask the business made regular statistical reporting as a basis for evaluating the implementation of investment projects abroad to have appropriate policies and timely.

Second, the state management agencies will continue to collect information about the investment environment in the country to provide local businesses are intending to invest abroad such as: policies to attract investment, the investment projects calling for laws and policies related to investment, production and business activities of the enterprise, potential and investment opportunities in some sectors particular in countries where businesses want to invest in Vietnam. Disclose information on specific investment projects signed by the Government of Vietnam and foreign countries ...

Third, the State will support capital investment for projects done in foreign countries that have an impact on the economic development of our country, such as: the project to export electricity to Vietnam, to the project mineral production to replace imports for domestic production and processing ...

Under which the project will be the State's borrowing through the Bank for Investment and Development of Vietnam (BIDV) with a loan of at least 30% of the total investment of the project with a preferential interest rate and exemption form loan guaranteed by assets.

In addition, this project if the investment in Russia, Laos, Cambodia will be government guaranteed business loans at commercial banks in the country with loans exceeding 15% of the charter capital of commercial banks lending.

In some special projects now can also request the State capital contribution. These projects are also exempt from corporate income tax on profits repatriated corporate income tax has been paid in the country where business investment.

Currently the government is going to agree the contents of the agreement to encourage and protect investment, avoidance of double taxation agreement in Vietnam with a number of countries that have signed the agreement, it will be the basis for investment activities Vietnamese enterprises to invest abroad.

Besides, the Government is also considering making mechanisms and policies to support domestic investment into Laos and Cambodia to train the workers by the workers in these two markets can not meet the quantity and quality of demand.