""The disadvantages in attracting and using FDI have been slowly overcome, affecting economic development, social order and national defence-security. "Thang said these limitations had many causes, but the most basic was that institutions and policies on FDI had not kept pace with development requirements.He added: "In the coming time, it is necessary to continue to improve institutions and laws on FDI attraction to improve the quality and efficiency of attracting and using foreign investment capital. "He said at the same time that it was necessary for the active, robust, synchronous and substantive participation of ministries, branches and localities to create a fair, open and transparent business and investment environment.He and his colleagues emphasised the solution to monitoring and evaluating FDI projects, especially the status of "hidden" investment in the form of individual investors in Vietnam. "In addition, there should be solutions to improve the efficiency of attracting and using FDI by enhancing the investment and business environment, reviewing the investment policy system, supporting investors to remove difficulties, strengthening the state management of FDI from the stage of project promotion, appraisal and implementation to the stage of inspection and supervision of implementation.VAFIE recommended that the Government soon issue a decision on the set of criteria to evaluate the effectiveness of the FDI sector. The evaluation criteria under construction include 26 specific economic, social, environmental, technological indicators, all serving as a basis for foreign investors to self-score and for project screening by localities to receive investment./.

Source: Viet Nam News June 13, 2022 10:04 UTC