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Title: IMPROVE THE INVESTMENT ENVIRONMENT TO STRENGTHEN ATTRACT FOREIGN INVESTMENT IN VIETNAM
Authors: Dr. Nguyen the Hung
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Dr. Nguyen the Hung Vice President of Academy of Policy and Development, Ministry of Investment and Planning (MPI) Viet Nam
MLA 8 Hung, Dr. Nguyen the. "IMPROVE THE INVESTMENT ENVIRONMENT TO STRENGTHEN ATTRACT FOREIGN INVESTMENT IN VIETNAM." Int. j. of Social Science and Economic Research, vol. 8, no. 11, Nov. 2023, pp. 3341-3360, doi.org/10.46609/IJSSER.2023.v08i11.002. Accessed Nov. 2023. APA 6 Hung, D. (2023, November). IMPROVE THE INVESTMENT ENVIRONMENT TO STRENGTHEN ATTRACT FOREIGN INVESTMENT IN VIETNAM. Int. j. of Social Science and Economic Research, 8(11), 3341-3360. Retrieved from https://doi.org/10.46609/IJSSER.2023.v08i11.002 Chicago Hung, Dr. Nguyen the. "IMPROVE THE INVESTMENT ENVIRONMENT TO STRENGTHEN ATTRACT FOREIGN INVESTMENT IN VIETNAM." Int. j. of Social Science and Economic Research 8, no. 11 (November 2023), 3341-3360. Accessed November, 2023. https://doi.org/10.46609/IJSSER.2023.v08i11.002.
References [1]. Decision No. 667/QD-TTg dated June 2, 2022, of the Government approving the Foreign Investment Cooperation Strategy for the period 2021-2030 [2]. Decision No. 308/QD-TTg dated March 28, 2023, approving the action plan to implement the foreign investment cooperation strategy for the period 2021 - 2030. [3]. Decree No. Decree 31/2021/ND-CP dated March 26, 2021, of the Government detailing and guiding several articles of the Investment Law. [4]. Directive No. 280/CD-TTg dated April 19, 2023 of the Prime Minister on rectifying and strengthening responsibility in handling the work of ministries, agencies and localities [5]. Do Thi Thu Thuy, Trinh Mai Van (2021), Attracting foreign direct investment (FDI) into Vietnam in the context of the Covid 19 pandemic, Vietnam Economic Conference 2021 and outlook for 2022, ISBN, ISBN: 978-604-330-227-1. [6]. Foreign Investment Agency – Ministry of Planning and Investment (2023). Report on foreign investment situation in 2022 and the first 7 months of 2023. [7]. Foreign Investment Agency – Ministry of Planning and Investment (2023). Updated foreign investment data for the first 9 months of 2023. [8]. Financial Times (2022), Global economic growth. [9]. Investment Law No. 61/2020/QH14 dated June 17, 2020, issued by the National Assembly replacing the 2014 Investment Law. [10]. Nguyen Thi Bich Lam (2021), What does Vietnam need to do to continue leading in the race to attract FDI. [11]. Nikkei Asia, (September 2023) [12]. Phung Thanh Quang, Nguyen Mai Phuong (2021), Foreign direct investment (FDI) flows in the context of the Covid 19 pandemic: Status and recommendations, Vietnam Economic Conference 2021 and prospects for 2022, ISBN, ISBN: 978-604-330-227-1. [13]. Resolution No. 50 - NQ/TW dated August 20, 2019, of the Politburo on orientations to perfect institutions and policies to improve the quality and efficiency of foreign investment until 2030. [14]. Resolution No. 01/NQ-CP dated January 6, 2023, of the Government on "Main tasks and solutions for implementing socio-economic development plans, State budget estimates and improving the environment." business school, improving national competitiveness in 2023." [15]. UNCTAD (2023), World Investment Report [16]. World Bank (2023), Global Economic Prospects report.
ABSTRACT: The World Bank (WB) has forecast the lowest growth outlook for the global market since 1993 with a growth rate of 1.7% (except for the two years of the Covid 19 pandemic). This reflects the difficult situation of the world economy when facing the consequences of the global COVID 19 epidemic, strategic competition between major countries, geopolitical conflicts in Europe, and the Russia - Ukraine war and the recent outbreak of conflict in the Middle East between Israel and Harmas. These events have made the economic recession more and more severe, pushing the risk of increased inflation, supply chain disruption, and the risk of food shortage globally. Vietnam is one of the few countries with growth in the years affected by the pandemic, however the growth rate in 2023 does not meet expectations (6.5%) and Inflation is at risk of increasing. However, attracting foreign investment is one of the important momentium forces to help the economy quickly restore growth. Exports (including crude oil) of the region foreign investment (FDI) in 2022 reached more than 275.9 billion USD, an increase of 11.8% compared to 2021, accounting for 74.3% of the country's total export turnover. Imports reached more than 233.2 billion USD, an increase of 6.7% compared to 2021, accounting for 65% of the country's total import turnover. The FDI sector had a trade surplus of more than 42.7 billion USD, including crude oil, while the domestic business sector had a trade deficit of more than 30.3 billion USD. The FDI sector's contribution to the state budget reached about 21.2 billion USD, an increase of 21.4% compared to 2021, accounting for 28% of total state budget revenue, an increase of more than 2.2% compared to the proportion of contributions to the state budget. total budget revenue in 2021. With such a crucial role, foreign investment capital tended to decrease in 2022, total foreign investment capital (including new registration, adjustment and capital contribution and share purchase) reached nearly 29.3 billion USD, down 24.6% over the same period in 2021. Facing both domestic and international challenges, Vietnam has many solutions to continue improving the investment environment both institutions. mechanisms as well as the business environment to continue to be an attractive destination for foreign investors.

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