Many provinces and cities across the country have given priority to foreign direct investment (FDI) attraction in some high-tech industries, such as information technology, electronics, social media analytics (SMA), engineering, automation, biotechnology, new materials, education, training of high-quality human resources, research and development, and public health care.
In the southern region, FDI flows continue to pour into high-tech. Le Bich Loan, deputy head of the management board at the Saigon Hi-Tech Park (SHTP), said SHTP has met the requirements of investors. Therefore, there are many famous high-tech companies available at the park, such as Samsung, Intel and Nidec.
There were 146 projects in the SHTP by August 2018, with total capital of US$7.147 billion, including 53 FDI projects accounting for two-thirds of total capital. Most of the projects come from the US, some European countries, Japan, the Republic of Korea, and Singapore. One of the most outstanding projects in the SHTP is a life sciences research and development center invested by the Quantus Corporation under the Allied Telesis Group, with total capital of US$500 million. With being disbursed relatively quickly at Samsung’s US$2-billion project, and cooperation with Japanese partners in training and technology transfer, the SHTP is expected to attract more investment in the coming time.
According to the Dong Nai Department of Planning and Investment, FDI attraction in the first eight months of the year reached US$980 million. Some large corporations, who have been present in the province, continue to pour capital into projects, such as Hyosung, Kenda, Bosch, Fujitsu, and Kyokuto.
Kadowaki Keiichi, chairman of the Japanese Business Association in Ho Chi Minh City, said Dong Nai Province continues attracting many Japanese companies to invest in high-tech and support industries in 2018.
To attract more FDI capital in high-tech in the coming time, the authorities will strengthen exchanges and organize dialogues with businesses to resolve petitions and remove difficulties, support businesses to get access to preferential loans, give priority to projects from prestigious high-tech corporations in the world, call for domestic businesses and Vietnamese overseas to invest in high-tech projects, and simplify administrative procedures in management and abolish inappropriate procedures.
Provinces and cities must pay attention to the orientations and methods of promoting FDI attraction to ensure effectiveness. It is also important to attract more investors from countries with advanced technologies such as Japan, the US and the EU.