HCM CITY (VNS)— It is time for a new approach to foreign direct investment (FDI), one that will find solutions that improve FDI efficiency for the broader benefit of the country’s economic growth, experts said at a workshop held in HCM city yesterday.
Ha Noi has set a goal of attracting US$1.3 billion in foreign direct investment (FDI) in 2014, despite failing to meet its annual FDI targets over the past two years. The capital city is also aiming to ensure around $1billion of the targeted FDI is disbursed this year.
2013 is a year worth remembering with the discovery of a series of transfer pricing cases in which foreign invested enterprises evaded the tax worth trillions of dong, and the presence of the big guy – Samsung, with the committed investment capital of $4 billion.
The recovery of foreign direct investment will continue playing a critical role in bolstering Vietnam’s economic growth in 2014. According to the Foreign Investment Agency (FIA), the total new foreign direct investment (FDI) commitment to Vietnam reached $21.6 billion in 2013, up 54.5 per cent year-on-year.