(VOVworld) - Vietnam faces new opportunities and challenges this year following the coming into force of its free trade agreements with the Republic of Korea, the Eurasia Economic Union and the establishment of the ASEAN Community.

Vietnam attracts high quality foreign investment projects in 2016.

Minister of Planning and Investment Bui Quang Vinh said Vietnam should be selective in welcoming foreign investment projects of high quality, modern and environmentally friendly technologies: “The Ministry of Planning and Investment will advocate high quality FID projects in Vietnam to fuel national development and create more jobs. We will raise the positions of local businesses to get them connected to small and medium and enterprises and FDI companies to boost technological transfer.”

 The Ministry of Planning and Investment’s Foreign Investment Agency reports that there were more than 22.7 billion dollars of foreign
investment in Vietnam in 2015, a 12.5% increase over the previous year. South Korea, Japan, Britain and Singapore are the top foreign investors in Vietnam.