Investment promotion regulation to be issued

The Ministry of Planning and Investment is drafting specific regulations to stipulate and set up a national investment promotion programme in the 2007-2010 period, at the request of the prime minister.

Ngo Cong Thanh, member of the drafting committee, said that the regulation aimed to set up formalities in organising and implementing the programme in order to map out the foundation for relevant agencies to carry out high quality investment promotion.

In the first step, the prime minister instructed that the regulations would be imposed on direct and indirect investment projects, promotion programmes done at ministerial level, and the investment authorities as well as provincial people’s committees.

All expenses for the investment promotion programme will be funded by the State coffers via other commerce, investment and tourism funds.

Thanh cited that there were currently 120 agencies directly managing the programme, including the provincial people’s committees, 44 industrial parks, seven economic zones and hi-tech park management boards. Furthermore, the central agencies under the supervision of all ministries, enterprises and associations have also participated by hosting programmes with an aim attracting investment into their projects.

The investment promotion situation has recently reflected poor cooperation among ministries, agencies and provinces. Thus, it has worked ineffectively and has been without any master planning. “To address the issues, it is necessary to unite all investment promotion programmes of ministries, provinces and agencies to improve the quality and effectiveness of national investment promotion”, Thanh said.

 

Category: Legal