HANOI (Reuters) – Vietnam’s Ministry of Planning and Investment is finalising a draft of a plan to set up a fund to help attract foreign investment, according to a ministry document reviewed by Reuters.
The draft is to be submitted to the central government by Friday, according to the document dated June 29.
The Southeast Asian country, a regional manufacturing hub, is heavily reliant on foreign investment for growth. Companies with foreign investment account for around 70% of its total exports.
The Vietnam Fund for Investment Support would provide cash to investment projects to partly cover costs for infrastructure, fixed assets and human resource training, according to the document.
Vietnam aims to attract $30-$40 billion of foreign investment a year in the 2021-2025 period, and $40-$50 billion annually in the 2026-2030 period, the document said.
(Reporting by Khanh Vu; Editing by Ed Davies)
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