Chairman of Binh Duong Provincial People's Committee Vo Van Minh presents the Investment Certificate to a representative of LEGO Group and an investor of VSIP3 Industrial Park. Photo: Chi Tuong/VNA

The Ministry’s Foreign Investment Agency held a briefing in Binh Duong province on Wednesday on attracting foreign direct investment (FDI) in the 8 months of 2022 as Vietnam is forecast to welcome a sharp increase in FDI.

Do Nhat Hoang, Director General of Foreign Investment Agency, said that amid the volatile world situation, investors are planning to restructure investment capital and shift their capital flows to other markets, including Vietnam. Vietnam needs to seize the opportunity and provinces and cities should create regional links and form an  ecosystem attractive enough to lure technology investors, he said.

The most attractive ecosystem today is the production of electronic chips and domestic enterprises have caught up with this trend and have linked into supply chains and outsourced their components.

In the medium term, from two to three years, tech groups still prioritize Vietnam as an investment location or expand investment, especially in the manufacturing and processing sectors, according to the Foreign Investment Agency.