New agency needed to manage next-generation FDI

This is one of the recommendations put forth at a workshop entitled "Recommendations on Vietnam Next-Generation FDI Strategy and Vision 2020 - 2030" held yesterday in Hanoi. Although Vietnam saw record FDI investment recently, the added value it brings is not substantial. Vietnam needs to reform its economy to attract next-generation FDI that is not limited to low-cost labour and favourable mechanism for investors. Experts at the workshop suggested that Vietnam establishes an agency that manages next generation FDI, with its steering committee comprised largely of the private sector. This is expected to help the economy of Vietnam better integrate into the global value chain.