Foreign investment to Vietnam expected to hit US$26 billion in 2023; Vo Thi Anh Xuan namd acting president

HANOI, Jan 21 (Bernama): Foreign investment inflows to Vietnam will likely reach US$36 to US$38 billion this year, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

Disbursement of foreign investment is expected to hit US$22 to 23 billion in 2023, local newspaper Vietnam News reported on Friday, citing the agency.

Xinhua reported that Vietnam would give priority to projects using new and green technologies, with high added value, modern corporate governance and high spillover effects, ensuring technology transfer and being integrated with global supply and production chains, according to Minister of Planning and Investment Nguyen Chi Dung.

To attract more foreign investment, he said, it is important to stabilise the macro economy, and improve infrastructure and the quality of human resources.

Economics expert Le Dang Doanh suggested Vietnam accelerate administrative reforms, improve the investment environment, and ensure policy stability.

Last year, Vietnam attracted a foreign investment of some US$27.72 billion. The disbursed FDI capital hit nearly US$22.4 billion, making it the highest amount in the past five years, according to the General Statistics Office.

In another development, Vietnamese Vice President Vo Thi Anh Xuan was named as the acting president on Wednesday, a day after former President Nguyen Xuan Phuc resigned, the official Vietnam News Agency reported.

Vuong Dinh Hue, chairman of Vietnam's National Assembly (NA), signed an announcement on behalf of the NA's Standing Committee about the new position of Xuan during an extraordinary meeting of the 15th NA held on Wednesday, it said.

Xinhua reported that Xuan has been the vice president since April 2021. She will serve as the acting president till the top legislature elects a new president.

Vietnam's top legislature on the same day voted to dismiss Phuc from his presidency role out of his personal wish.

The Central Committee of the Communist Party of Vietnam (CPV)'s meeting on Tuesday agreed on his resignation and on having his memberships at the Politburo and the 13th CPV Central Committee removed out of his personal wish.

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