he Ministry of Planning and Investment’s Foreign Investment Agency Deputy Director Dang Xuan Quang said, “The business community appreciated four amendments to the Investment Law regarding investment procedure reform, policy transparency, policies on merger and acquisition (M&A) and public-private partnerships, business transparency, banned and conditioned businesses.

The amendments to the Investment Law if passed by the National Assembly will create a breakthrough for the business environment in Vietnam, which is increasingly receiving attention from foreign investors.

According to official data from the Foreign Investment Department under the Ministry of Planning and Investment, the FDI sector has proved dynamic, stable and efficient contributing from 21-30 percent of total investment in social development. Notably, since 2013, an increasing number of large-scale investment projects have been made in Vietnam. Through surveys, most investors wish to continue to expand their business in Vietnam; meanwhile, the Investment Law issued in 2005 has seemed inadequate and inappropriate somewhat affecting the investment and business climate in Vietnam. Therefore, it is necessary to supplement specific policies to the existing Investment Law for better effectiveness in increasing investment opportunities in Vietnam.

At a seminar on the impact of the Investment Law amendment and tax policies on foreign direct investment, Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc said, “If passed by the National Assembly, the amendments to the Investment Law will contribute to creating more favorable conditions for foreign investors in Vietnam as they will clarify top priority sectors, adjust inadequacies related to conditioned businesses, and focus on the construction of an open and transparent investment environment.”

Discussing the impact of new policies relating to the Investment Law and the orientation to attract foreign investment, Dang Xuan Quang,the Deputy Director of Foreign Investment Agency under the Ministry of Planning and Investment, “Vietnam needs to attract projects selective for quality, high added value, modern technology, and environmental friendliness made in the fields of information technology, agriculture, infrastructure, and high quality manpower training./.