While other countries are setting up specific and clear priorities to attract FDI projects, Vietnam is still pursuing a strategy with multiple targets that could lead to missed opportunities. Vietnam is not the only magnet for a new wave of foreign direct investment (FDI), which came as a result of global companies diversifying their value chains in the post-Covid-19 period, according to economist Pham Chi Lan. Vietnam needs making more efforts to lure new FDI wave. While other countries are setting up specific and clear priorities to attract FDI projects, Vietnam is still pursuing a strategy with multiple targets, Lan told Vnexpress, adding this could lead to missed opportunities. For example, India is a prime target to receive new investment capital. According to Bloomberg, in April, the Indian government reached out to more than 1,000 companies in the US and through overseas missions, offered incentives for manufacturers seeking to move out of China. India is prioritizing medical equipment suppliers, food processing units, textiles, leather and auto part makers among more than 550 products covered in the discussions. Indian officials reportedly told companies that the country is more economical for them in terms of securing land and affordable skilled labor than… Read full this story
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