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Saturday, July 20, 2024

Smoothing FDI flow to Mekong Delta

By Dr. Phan Huu Thang (*)

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Streamlining the foreign direct investment (FDI) approval process is a crucial step in driving the development of the Mekong Delta, a vital economic region in southern Vietnam with untapped potential. However, what is impeding FDI inflows into the region? Unlocking the Mekong Delta’s potential With its vast natural resources and population of over 20 million, the Mekong Delta holds significant economic, political, and cultural importance in Vietnam. The region spans an area of 40,577 square kilometers and accounts for 60% of rice production, 40% of fisheries, and serves as a major source of labor for the south-eastern region and HCMC. Yet, despite its natural advantages, the Mekong Delta has struggled to attract significant FDI after 30 years of renovation (doi moi). Challenges in FDI attraction In the first quarter of this year, the Mekong Delta saw 19 new FDI projects, 22 operational FDI projects with capital increases, and 16 deals for capital contributions and share acquisitions by foreign investors, totaling over US$250 million. However, it is worth noting that 10 out of 13 provinces in the region failed to attract any FDI projects. By the first quarter of 2023, the Mekong Delta had attracted a total of 1,694 FDI projects […]
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