Reported about 1 year ago
Vietnam's Ministry of Investment proposed the establishment of an investment incentive fund to attract foreign investors, in response to losing major overseas factories like Intel and LG Chemical due to lack of incentives. Intel had planned to invest $3.3 billion in Vietnam but ultimately chose Poland due to insufficient cash subsidies from the Vietnamese government. The government aims to attract $300-400 billion of foreign investments annually from 2021 to 2025 and increase it to $400-500 billion from 2026 to 2030 through the fund. Other foreign firms like LG and AT&S also diverted their investment plans to other countries like Indonesia and Malaysia due to limited subsidies in Vietnam.
Source: YAHOO