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Attracting foreign investment in high technology and promoting technology transfer

Date 07/09/2023 - 20:45:00 | 719 views
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(MPI) - The Ministry of Planning and Investment (MPI) in collaboration with the Ministry of Science and Technology (MoST) organised the conference on attracting foreign investment in high technology and promoting technology transfer in Hanoi on September 7, which aims to update current situation on FDI attraction in those fields, and discuss facing difficulties in the implementation of legal policies.

At the conference. Photo: MPI

Deputy Minister of Planning and Investment Tran Duy Dong said that foreign investment has affirmed its role as a dynamic economic sector with significant contributions to Vietnam’s economic growth and integration into the world, and economic reform.  

The FDI sector also has positive impacts on the reform of economic institutions and the improvement of the domestic business climate, the State apparatus and Vietnam’s reputation and position in the international arena. 

Vietnam currently has 38,084 valid foreign-invested projects with a total registered capital of 453.26 billion USD, of which the accumulated realised reached about 287.1 billion USD, or 63.3% of the total.

In the first eight months of this year, the country attracted 1,924 new projects, having 830 turns of projects registered to adjust their investment capital and 22,268 transactions of capital contribution for share purchases with a value of nearly 18.15 billion USD.

Vietnam has initially received new investment flows in the high-tech industry such as those from Intel and Samsung, the official said, adding that investment in tech manufacturing from global corporations are expanding the domestic market.

Deputy Minister of Science and Technology Le Xuan Dinh added, the Party and the State have adopted various policies to boost FDI and attract projects with advanced and new technology with modern management, high-added value and spillover effects that connect global production and supply chains.

Statistics from the MoST showed that FDI firms accounts for over 90% among enterprises registering for technology transfer in Vietnam. The country recorded over 400 technology transfer agreements between July 2018 till the end of 2022.

MPI Deputy Minister Dong pointed out that it is necessary to raise awareness about FDI investment in high technology and technology transfer, build mechanisms and policies on foreign investment that in accordance with current trends and international practices, and review incentives to attract high-quality FDI.

At the same time, he proposed to continue improving investment regulations for the attraction of selective and preferential investors, having specific measures to help Vietnamese enterprises improving production, research, and technology transfer capacity, and developing high-quality human resources./.

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