(VEN) - Prime Minister Nguyen Xuan Phuc told participants at a recent conference that while foreign investment plays a pivotal role in Vietnam’s economy and development, most foreign-invested firms still use mid-level technologies and only few global high-tech corporations operate in the country. Prime Minister Nguyen Xuan Phuc speaks at the conference PM Phuc was addressing an October 4 conference entitled, “30 Years of FDI Mobilization in Vietnam: New Vision and Opportunities in New Era” held by the Ministry of Planning and Investment. Employment for millions Minister of Planning and Investment Nguyen Chi Dung said in the three decades since the Law on Foreign Investment took effect, the FDI sector has increasingly proven its pivotal role in the national economy. As of the end of August 2018, Vietnam had attracted 26,500 valid FDI projects with total registered capital of US$334 billion. Of the sum, roughly US$184 billion have been disbursed. FDI has contributed important capital to total social investment. The share of FDI in total social investment capital increased to 23.7 percent in 2017, while its contribution to the country’s GDP surged to 19.6 percent in 2017. In addition, state budget revenues from the FDI sector have recorded remarkable growth, increasing… Read full this story
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