After 25 years attracting foreign direct investment (FDI), Vietnam is now looking to large investors.

Foreign investors have contributed significantly to the development of Vietnam's economy, said Doctor Nguyen Mai during a seminar looking for ways to boost FDI held by the Ministry of Planning and Investment. Most investments have been small and medium enterprises in Asia.

Registered FDI capital has increased to 21.6 billion USD in 2013, a rise of nearly 55 percent over the previous year. Of this, 11.5 billion USD has been disbursed, which is 10 percent over 2012.

The Republic of Korea's Samsung Group has decided to build the largest cell phone plant in the world in the northern province of Thai Nguyen. The plant will provide 60 percent of the group's output in the global market.

Vietnam should limit the development of industrial zones, said Mai. Experiences from developed and large countries show that Vietnam should focus on those in specific fields to lure larger FDI projects.

Several Italian businesses have contacted Vietnam about investment opportunities. Among them is a group of companies from Emilia – Romagna, where most of well-known car brands are manufactured.

The model of specialised industrial zones has been quite successful in the region and Italian businesses are studying to develop it in Vietnam, according to Carlo Alberto Roncarati, Deputy Chairman of the Association of Chambers of Commerce of Emilia-Romagna Region.

They have listed Vietnam as one of the first-choice countries for foreign investment, said Palma Costi, President of the Legislative Assembly of Emilia-Romagna. The region's administration mapped out policies to assist businesses to invest in Vietnam.

Phu My 3 Industrial Zone was recently built in the southern province of Ba Ria-Vung Tau, meeting demand of Japanese investors. This is scheduled to receive large-scale business with advanced technologies from the support industry.

VNA

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