In an effort to attract investment and promote sustainable economic development, the Vietnamese government has implemented a series of new policies to improve the investment environment and create favorable conditions for both domestic and foreign businesses. These policies focus on administrative reforms, encouraging investment in high-tech and renewable energy sectors, and enhancing transparency in investment activities.
One of the key highlights is Decree No. 35/2022/ND-CP, which aims to streamline administrative procedures related to investment. This decree reduces barriers regarding permits and project approvals, creating a clearer and more transparent legal framework for investors. Simplifying administrative procedures makes it easier for investors to implement projects in Vietnam, thereby improving the effectiveness of FDI attraction.
Additionally, Vietnam has introduced tax incentives for businesses investing in high-tech and renewable energy sectors. These policies aim to foster a favorable investment climate, encouraging investors to participate in the country’s strategic sectors. In particular, businesses operating in fields such as artificial intelligence (AI), information technology, and electronics manufacturing will benefit from tax breaks and financial support from the government.
Alongside tax policies, one of Vietnam's key priorities is the development of renewable energy, particularly wind and solar power. The government has put in place measures to support investors in this sector, including tax reductions, financial support, and improved infrastructure. This not only helps meet the domestic energy demand but also contributes to reducing emissions and fostering a green economy.
Participation in free trade agreements (FTAs) such as CPTPP, EVFTA, and RCEP is another important factor enabling Vietnam to expand its export markets and attract more FDI. These agreements help reduce tariffs and trade barriers, offering significant opportunities for Vietnamese businesses to develop and integrate into global supply chains.
Another notable aspect of the new policies is the special support for small and medium-sized enterprises (SMEs). The government has decided to reduce taxes and provide financial support for SMEs, helping them access preferential loans and expand their production capacity. This is a crucial step in enabling local businesses to join global value chains and enhance their production capabilities.
The government is also focusing on developing human resources for high-tech industries and value-added manufacturing sectors. Collaborative programs between businesses and training organizations to provide skilled labor will be a key factor in boosting the competitiveness of Vietnamese companies in the international market.
While many reforms have been implemented, Vietnam still faces challenges in attracting investment in sectors requiring advanced technology and high-value products. However, the new policies demonstrate the Vietnamese government's commitment to building a transparent, efficient, and sustainable investment environment, creating significant opportunities for both domestic and foreign investors.