In the context of Vietnam’s extensive international economic integration, the Association will update enterprises and investors on foreign investment trends in Vietnam and Vietnam’s investment overseas. Tran Son Vu, Head of the Association, said: “The association is established to receive capital or investment needs of foreign organizations or financial groups wanting to invest into Vietnam. It’s more important that we need to talk to them to identify their investment needs and obstacles they are facing with. Then we will provide them with policy and legal advice.”

Vietnam attracted about 22 billion USD of FDI over the past seven months.  During this period, 79,300 new enterprises were established, higher in both the number of enterprises and the size of capital over the same period last year. The association will help investors to better access the most comprehensive and updated legal policies on ­business and investment. It will also work as a link between ­investors and ­government agencies to help them address concerns over legal issues. Doctor Bui Xuan Phai, a member of the Association, said: “Investment activities are diverse and complicated. The association is tasked with capitalizing on investment resources both at home and from abroad. We will also help to take full use of investment incentives and laws in Vietnam.”

With initial 100 members, the association will gather highly-qualified and professional lawyers, consultants, and legal analysts. Ha Ngoc Anh, Deputy Head of the Party Central Committee’s Commission for Mass Mobilization, said: “The association will enable us to bring into full play our talent pool who will promote investment into Vietnam and at the same time give advice to the Party and State for policy making to boost socio-economic growth.”