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Summit presents golden FDI opportunities

Update: February, 27/2019 - 09:00
Cát Linh-Hà Đông skytrain line in Hà Nội. Hà Nội has advantages to become a major tourism, trade and economic centre of not only Việt Nam but also the region. — Photo dantri.com.vn
Viet Nam News

HÀ NỘI – Hosting the worldwide political event of the year will be the perfect opportunity for Việt Nam and Hà Nội to showcase its strengths and attract foreign direct investment (FDI) this year.

The Trump-Kim summit opens a new chapter in international integration following the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which took effect at the beginning of this year, and the EU-Việt Nam Free Trade Agreement, which is expected to be ratified early this year.

International media has praised Việt Nam as one of the most successful countries for attracting and using foreign investment with US$35.5 billion pledged to Việt Nam in 2018, in which disbursement reached a record $19.1 billion.

Hà Nội is the hottest destination, drawing $7.5 billion foreign capital last year, accounting for 21.2 per cent of the country’s total FDI.

The capital city has actively introduced its strengths, potential and investment opportunities and policies to both domestic and foreign businesses. The city’s authority has also organised regular talks with investors, as well as welcoming suggestions through diversified channels including the foreign investment agency, ambassadors, trade counselors and business associations.

In the last three years, foreign investors pumped around $14 billion into Hà Nội, 2.3 times higher than the 2011-15 period.

Hà Nội can become a major tourism, trade and economic centre of not only Việt Nam but also the region. The DPRK-USA Summit is a golden opportunity for the city to present itself to foreign investors.

"The summit will help Việt Nam improve its prestige in the world and make it an important factor in the region. For Hà Nội, it is an opportunity to attract  global attention and let them see every corner of the capital city, traffic, historical heritages and the vitality of this city,” said Kim Do-hyon, Ambassador of the Republic of Korea to Việt Nam.

Foreign investors, especially Korean companies, are actively seeking opportunities and supply chains in Hà Nội, the ambassador said.

Nguyễn Đức Chung, chairman of the Hà Nội People’s Committee, said "the business community is an important driving force for the city’s development".

The city has placed priority on quality projects, especially high-tech and environmental friendly projects and the ones with added value and high competitiveness. Big corporations from the United States, EU, Japan and the Republic of Korea will be the main targets for the city to call on for investment. – VNS

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