Hanoi (VNA) - The assessment ofForeign Direct Investment (FDI) attraction must be realistic and systematic totackle shortcomings, said Deputy Prime Minister Vuong Dinh Hue.

He made the request at a conference held in Hanoi on January 14 to discuss adraft plan on ‘Orientation to complete mechanism and policies and to improvethe quality and efficiency of FDI attraction and use until 2030’.

The plan will be submitted to the Politburofor consideration.

The plan should not only assess the currentsituation but also analyse FDI attraction trends and show changes in FDI attractionpolicies, he said. It needs qualitative and quantitative data to assess FDIcommitment, disbursement and contribution.

He noted the plan still lacked measures to connect and transfer technologybetween the FDI sector and domestic businesses.

The plan is not aimed at developing policies but finalising mechanisms and policieson FDI attraction and addressing legal shortcomings relating to tax, business,investment, land use and more, he said.

He asked the Ministry of Planning and Investment to work with HCM City, Hanoiand southern Binh Duong province, which are key localities in FDI attraction,to listen to the opinions of local authorities and businesses on policies toimprove FDI attraction.

Deputy Minister of Planning and Investment Vu Dai Thang stressed the importanceof the plan, saying it would serve as a foundation to attract FDI in line witheconomic restructuring and growth model renewal.

It would also help the Party and State incorporate FDI attraction to fulfilsocio-economic development tasks, he said.

Regarding FDI attraction in the future, the ministry proposed to continueconsidering FDI as an important part of the economy in the long-term. FDIattraction must be selective, connected with domestic businesses and helpimprove Vietnam’s position in the global value chain on the basis ofmultilateralisation and diversification to ensure the independence of theeconomy and national security, according to Thang.

Many participants noted the need for policies to encourage investment projectsin technology and develop infrastructure in connection with climate changeadaptation.

Vice Chairman of the People’s Committee of northern Hai Phong city Nguyen VanThanh proposed the Government invest in transport infrastructure to connectdifferent regions to help attract more FDI while completing mechanisms andpolicies to improve FDI attraction.

Vice Chairman of central Da Nang city’s People’s Committee Ho Ky Minhrecommended amending regulations relating to foreign investment attraction suchas the laws on businesses, public-private partnership, competition and the LandLaw.

He also pointed to the need to reduce conditional business lines.

FDI commitment for 3,046 newly-licensed projects reached nearly 18 billion USDin 2018.-VNA