Despite serious impacts of the COVID-19 pandemic, foreign investments in Vietnam in the first nine months of 2021 rose, showing investors' trust and optimism about the country’s socio-economic recovery and development in the coming time, Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc has said.

Ho Chi Minh City seen from above. (Photo: VNA)

Despite serious impacts of the COVID-19 pandemic, foreign investments in Vietnam in the first nine months of 2021 rose, showing investors' trust and optimism about the country’s socio-economic recovery and development in the coming time, Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc has said.

This also affirms that Vietnam continues to be a safe, attractive and potential destination for foreign investors, Ngoc told the Vietnam News Agency (VNA).

As of September, the nation had 34,141 valid investment projects, with a combined capital of 403.19 billion USD.

However, the pandemic is negatively affecting production and business activities of enterprises, including foreign-invested ones, and making it difficult for foreign investors to explore investment and business opportunities in Vietnam.

Acknowledging this fact, over the past time, the Government, the Prime Minister, ministries, sectors and localities have made efforts and taken drastic measures for the highest goal of effective pandemic prevention and control, and effective support for production and business of enterprises.

Illustrative image (Source: VNA)

The business community, including FDI enterprises, has joined hands with the Government and local authorities in supporting people in the fight against COVID-19, thus demonstrating the spirit of overcoming difficulties, adapting to the new situation, maintaining production, and creating jobs for labourers. This shows the confidence of foreign investors in Vietnam’s business environment and the effectiveness of solutions taken by the Government and the Prime Minister.

The FDI business community has appreciated the Government's response to the pandemic, expressed optimism about Vietnam's economic recovery, and committed to continuing to invest and do long-term business in Vietnam.

Ngoc also pointed out several difficulties facing enterprises, including labour shortage, entry restrictions and long-term quarantine, selective investment attraction policy, decreases in global foreign investment inflows, and increasing competitiveness in attracting foreign investment among countries.

To make FDI enterprises feel secure, the Government has made recommendations to the Party or submitted to the National Assembly and the National Assembly Standing Committee to promulgate many important policies. The Government has also issued a number of decrees and thematic resolutions on land rent exemption and reduction and on support for enterprises, cooperatives and business households, as well as workers and employers.

According to Ngoc, besides negative impacts, the pandemic is also an opportunity for Vietnam to continue perfecting its institutions, improving governance capacity, and the business and investment environment./.