Raising businesses’ confidence in the government

13/02/2017
It is a good sign when in the first month of 2017 Vietnam attracted approximately US$1.4 billion of foreign direct investment (FDI), amid fears that the US withdrawal from the Trans-Pacific Partnership would significantly affect the FDI inflow into Vietnam.
Such concern has been alleviated when FDI pledges to new projects reached over US$1.2 billion, up 23% over the same month a year earlier and additional investment in existing projects hit US$179.1 million. Disbursement in January also rose 6.3% to US$850 million. The outlook of FDI attraction in 2017 is forecast to be bright when pledges last year were estimated at over US$20 billion and disbursement reached an all-time high of US$15.8 billion.
Another good sign is that Vietnam saw 8,990 newly established enterprises in January with total capital of VND90.3 trillion (US$3.97 billion), up 52.3% from a year ago. If additional capital invested by existing enterprises is counted, total capital injected into the economy in January will be VND204.9 trillion (US$9 billion). Along with the solid foundation formed in 2016, when more than 110,000 enterprises were established with total registered capital of VND891.1 trillion (US$39.2 billion), 2017 is expected to be a promising year for the number of new businesses.
Figures of FDI pledges and new businesses in 2016 and January of 2017 are impressive but they are currently just numbers on paper. When these enterprises and FDI projects come into operation, such capital will become a significant resource for the economy. One of the major drivers of the economy in 2017 will be enterprises, including both domestic and foreign ones. The increases in the number of new businesses and FDI projects reflect the high confidence of the business community in the government’s commitment to improving the business environment by building a facilitative, incorruptible and action-oriented government.
Such confidence needs to be continually bolstered by the government’s concrete actions from the central to the grass-roots levels to help new businesses and FDI projects quickly commence operations, thereby helping to stimulate economic growth.


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All comments [ 10 ]


Gentle Moon 13/2/17 20:40

A focus should be given to solving difficulties faced by enterprises and boosting production and business in all sectors, especially spearhead ones like high-tech agriculture and tourism.

Jane smartnic 13/2/17 20:42

The Government signaled ongoing determination to improve the business climate and national competitiveness this year.

Love Peace 13/2/17 20:42

I believe that business confidence will strengthen and help boost economic growth.

Pack Cassiopian 13/2/17 20:43

Convenience in setting up firms - such as free online business registration from the beginning of this year - will promote private investments into the economy.

Deck Hero14 13/2/17 20:45

It is more important how to develop strong private companies in the next five years, which will become the backbone of the economy.

John Smith 13/2/17 20:47

Vietnam will overcome the present economic difficulties.

LawrenceSamuels 13/2/17 20:47

The difficulties are only temporary ones, and the Vietnamese government’s economic management is presently good.

yobro yobro 13/2/17 20:50

I maintain a positive view of the Vietnamese market and their business operations in the country.

MaskOf Zero 13/2/17 20:51

The Government’s efforts to build the start-up ecosystem have shaped a new space for start-ups.

Only Solidar 13/2/17 20:52

the solution system is encouraging entrepreneurs to restructure, change and reach global standards to avoid being left behind in the new flow of business and investment transformation of the world.

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