Overview of Fdi in Vietnam
AN OVERVIEW ON FDI IN VIETNAM 1. A definition of FDI
According to Article 2, Law on Foreign Investment in Vietnam 1996, “FDI means the transfer of capital in money or any asset into Vietnam by foreign investors to carry out investment activities in accordance with the provisions of this Law”.
Foreign investor means a foreign economics organization or a foreign individual investing in Vietnam.
In another way, FDI is a kind of investment in which foreign investors contribute their capital to a project, directly manage and execute its operation and production for the purpose of profit, in the mean time, being responsible for his contributed capital as well as business activities. The process is carried out under Law on Foreign Investment’s provisions.
With its own nature, over development history, FDI has become an effective economic cooperation form. It is not only welcomed all over the world but it is also roughly competed by the countries.
2. Vietnam's Policy to Attract FDI
The VIth Congress of the Vietnamese Communist Party made a turning-point decision in the country's development strategy to build a market-oriented economy under the state control. The Vietnamese Communist Party and State, while attempting to mobilize all domestic resources, pursue the policy of deepening international economic relations to seek new opportunities for the country's economic co-operation and development.
As part of foreign economic relations activities, foreign direct investment (FDI) was put high on the agenda. As domestic capital raising possibilities are limited, FDI constitutes an important part to the Vietnamese economy.
On December 29, 1987, at its second session, the VIIth National Assembly passed the Law on Foreign Direct Investment in Vietnam. Up to now, it has been revised four times in 1990, 1992, 1996 and May 2000. The introduction of the Law on Foreign Direct Investment was a landmark in the development of Vietnam's
According to Article 2, Law on Foreign Investment in Vietnam 1996, “FDI means the transfer of capital in money or any asset into Vietnam by foreign investors to carry out investment activities in accordance with the provisions of this Law”.
Foreign investor means a foreign economics organization or a foreign individual investing in Vietnam.
In another way, FDI is a kind of investment in which foreign investors contribute their capital to a project, directly manage and execute its operation and production for the purpose of profit, in the mean time, being responsible for his contributed capital as well as business activities. The process is carried out under Law on Foreign Investment’s provisions.
With its own nature, over development history, FDI has become an effective economic cooperation form. It is not only welcomed all over the world but it is also roughly competed by the countries.
2. Vietnam's Policy to Attract FDI
The VIth Congress of the Vietnamese Communist Party made a turning-point decision in the country's development strategy to build a market-oriented economy under the state control. The Vietnamese Communist Party and State, while attempting to mobilize all domestic resources, pursue the policy of deepening international economic relations to seek new opportunities for the country's economic co-operation and development.
As part of foreign economic relations activities, foreign direct investment (FDI) was put high on the agenda. As domestic capital raising possibilities are limited, FDI constitutes an important part to the Vietnamese economy.
On December 29, 1987, at its second session, the VIIth National Assembly passed the Law on Foreign Direct Investment in Vietnam. Up to now, it has been revised four times in 1990, 1992, 1996 and May 2000. The introduction of the Law on Foreign Direct Investment was a landmark in the development of Vietnam's