(VOVworld) – Prime Minister Nguyen Tan Dung says the Vietnamese Party, State and Government will continue to improve the investment climate, attract and use effectively foreign investment resources.

Prime Minister Nguyen Tan Dung chairs the conference

Dung was speaking at a meeting to review 25 years of attraction of foreign direct investment (FDI) in Hanoi on Wednesday. He said:“First, efforts should be made to boost administrative reforms. Second, we need promptly finalize legal documents, mechanism and policies about investment, which should be more favorable and competitive than other countries in the region, while adopting incentives attractive enough for large-scale socio-economic infrastructure projects.”

The conference, chaired by Prime Minister Nguyen Tan Dung and organized by the Ministry of Planning and Investment together with sectors and localities, discussed orientations to lure more foreign investment in the national industrialization and modernization process. Minister of Planning and Investment Bui Quang Vinh said that over the past 25 years, FDI has played an important role in transforming economic sectors and restructuring them toward industrialization, increasing export revenue, generating jobs, and applying more advanced technology in Vietnam. He added that in the difficult global economy, Vietnam needs to be more active to compete with other countries in the region in attracting FDI.

As of February last year, foreign investors had poured nearly 211 billion USD into 14,550 projects in Viet Nam, with the processing industry accounting for 50.3 percent. Ho Chi Minh city leads in attracting FDI with 32.2 billion USD, followed by Ba Ria Vung Tau, Hanoi, Dong Nai, and Binh Duong.