FDI firms

Authorities of the southern industrial hub of Binh Duong held a meeting with two major foreign direct investment (FDI) enterprises -Polytex Far Eastern Vietnam Co., Ltd. and Kumho Tire Vietnam Co., Ltd.- to address challenges facing the firms in production and business operations while encouraging their further expansion.

The Vietnam Chamber of Commerce and Industry (VCCI) has proposed increasing the support for research and development (R&D) costs to over 50% for foreign direct investment (FDI) businesses, it said in policy feedback requested by the Ministry of Planning and Investment.

Vietnam should improve its legal framework to maintain the attractiveness of the domestic investment environment to foreign firms, Vu Tien Loc, President of the Vietnam International Arbitration Centre (VIAC) has said.