The action plan aims to comprehensively implement the objectives, tasks and solutions set out in Resolution 10, making Vietnam a competitive destination for medium- and long-term, high-quality foreign investment and contributing to the country’s development goals through 2030 and 2045.

Under the plan, the Government asks ministries, sectors and localities to continue improving institutions and the investment and business environment; develop high-quality human resources; upgrade infrastructure to attract strategic investment; and renew orientations for attracting foreign investment by industry, sector and location.

Notably, agencies are required to accelerate digital transformation to shorten administrative processing times, reduce compliance costs and strengthen inter-agency connectivity, as well as digital investment management based on digital platforms, data and artificial intelligence.

The Government also calls for stronger supervision of investors’ fulfilment of their commitments and action against violations. Priority will be given to projects using advanced and environmentally friendly technologies and contributing to innovation, research and development, workforce training and the development of domestic suppliers.

Support for workforce training, priority for strategic projects
Regarding human resource development, the Ministry of Finance is tasked with studying mechanisms allowing localities to use their budgets to support foreign-invested enterprises in workforce training. The Ministry of Education and Training is to step up training in high-tech fields in line with the needs of priority industries and sectors and strategic projects.

The Ministry of Finance is also tasked with studying mechanisms for enhanced incentives and support, as well as flexible special investment procedures, for core projects prioritised for foreign investment attraction. These policies will be linked to commitments on technology transfer, research and development, workforce training, domestic supplier development, green transition and digital transformation.

Localities are required to develop lists of priority investment projects based on their potential, advantages and development orientations, giving priority to high-quality projects capable of strengthening linkages with domestic enterprises and developing industry clusters and industrial-service ecosystems.

Source: VOV

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