Tiếng Việt1- What is investment promotion?
The concept of investment in the Investment Law is recorded in Clause 8, Article 3, associated with business investment, which is “the investment capital invested by investors to carry out business activities”.
The role of investment promotion activities today:
– Investment promotion aims to promote and facilitate investment activities by sector, region and partner in accordance with the strategy, planning, plan and socio-economic development goals in each period; ensure the implementation of investment promotion programs and activities that are inter-regional, inter-sectoral, linked to trade promotion and tourism promotion.
– Investment promotion is a dynamic tool and has an orienting influence on investors and is a form of propaganda to seek and maintain investment capital. First of all, investment promotion is a tool to attract foreign investment and implement FDI policy, which has an impact on encouraging economic growth. FDI investment promotion is just one tool among economic development tools. Investment promotion is essentially solving the problem of finding and maintaining investment capital. Through investment promotion, FDI projects supplement important capital sources for investment in socio-economic development in each period, and are also an important factor in promoting internal resources, especially in the period when the economy’s accumulation level is still low.
2- Contents of investment promotion activities
The contents of investment promotion activities are stipulated in Article 88 of Decree No. 31/2021/ND-CP, including 08 basic contents:
First, research on potential, market, trends and investment partners. This is the content as well as the first stage in investment promotion activities, which is the decisive stage for whether investment promotion is feasible or not and the actual effectiveness is affected by objective factors.
Second, build the image, promote, advertise, introduce the environment, policies, potential, opportunities and investment connections. This is an activity to attract, demonstrate the attractiveness of investment projects and show investors the strong development potential of the project, at the same time this is a way for parties to approach and gradually have “sympathy” for each other.
Third, support, guide, facilitate investment activities. Investment activities are the investment of capital invested by investors to carry out business activities. Support, guidance or facilitation is the way for investment promotion agencies to “pave the way” for themselves in meeting the requirements of “a customer” for future projects.
Fourth, build an information system and database to serve investment promotion activities. This is the basis for storing and implementing investment promotion activities in a planned, effective, legal and reasonable manner, and is also the document proving that the investment promotion process is in accordance with the procedure.
Fifth, build a list of investment attraction projects. This activity has a truly important role, building a list of investment attraction projects to help investors choose projects that are suitable for themselves, and is also a way for the promotion agency to manage projects that they want to implement in the future.
Sixth, build publications and documents to serve investment promotion activities. The documents and glossaries mentioned here are similar to a way to build an image, promote investment promotion activities, documents to serve the promotion activities to take place effectively and quickly.
Seventh, training, coaching, and capacity building in investment promotion. This is an activity to foster the quality of human resources directly implementing investment promotion activities in investment promotion agencies.
Eighthly, domestic and international cooperation on investment promotion. Investment promotion activities, focusing on attracting foreign investment capital into Vietnam, domestic and international cooperation enhances the capacity for effective and modern investment promotion.
