In a bid to standardise and improve the appraisal process for Foreign Direct Investment (FDI) projects, the Institute of International Investment Studies Company (ISC) and the Australian Embassy to Vietnam jointly introduced new criteria at a conference in Hà Nội. The event aimed to provide provincial authorities with standardised guidelines for assessing the quality and effectiveness of FDI projects.
Phan Hữu Thắng, Chairman of ISC, emphasised the need for a comprehensive set of evaluation criteria, highlighting the challenges posed by the fragmented selection process across various legal documents. The newly announced criteria, consisting of 10 indicators for appraising FDI projects and 36 indicators for evaluating their quality and effectiveness, are set to address these issues.
Thắng highlighted the significance of these criteria in enhancing transparency, facilitating decision-making for provincial authorities, and attracting more foreign investment. He noted that the lack of standardised evaluation criteria had previously hindered the appraisal process and affected the consistency of assessments across different sectors and localities.
The introduction of these standardised criteria marks a significant step towards promoting transparency and efficiency in the FDI appraisal process, ultimately contributing to the sustainable development of Vietnam’s economy. These criteria not only provide provincial authorities with clear guidelines but also serve as valuable references for foreign investors seeking investment opportunities or conducting business activities in Vietnam.
