Decision No. 15/2007/QD-TTg: Greasing the wheels for foreign investment

The policy to attract foreign direct investment to match national potential and meet the requirements of capital needed for rapid but sustainable socio-economic development is reaffirmed in Prime Minister’s Decision No. 15/2007/QD-TTg of June 22, on major solutions to promote foreign investment.

The policy to attract foreign direct investment to match national potential and meet the requirements of capital needed for rapid but sustainable socio-economic development is reaffirmed in Prime Minister’s Decision No. 15/2007/QD-TTg of June 22, on major solutions to promote foreign investment.

The solutions, which were devised on the basis of studying present policy, infrastructure and procedural impediments to foreign investment and are divided into six groups, include accelerating the elaboration and approval of plans, especially construction and land use plans; supervising the observance of the investment law in order to promptly detect and solve problems; increasing direct contacts with large conglomerates to call for investment in big and important projects; efficiently supporting potential foreign investors; simplifying and publicizing administrative procedures for foreign investment by practicing the one-stop shop system for carrying out investment procedures; and ensuring the uniformity and practicability of investment procedures and incentives applied by different localities.

According to statistics, foreign direct investment in the first six months of the year reached a record level of USD 5.264 billion, of which USD 4.32 billion was registered capital of new investment projects. For the whole year, total foreign investment is expected to exceed the initial target of USD 12 billion.

(Source: Vietnam Law)