A set of criteria for appraisal of FDI projects was published on May 23, which is expected to help improve the selection efficiency and quality of investment projects.

This is part of the joint research results of the Institute for International Investment Studies (ISC) and the Australian Embassy in Hanoi, announced on May 23.

There are 10 criteria to evaluate investment projects, including 8 criteria relating to legal regulations on appraisal of foreign investment projects in Vietnam. These criteria will be used to screen the projects, including criteria on profiles and legal entity of investors, fields of investment, their alignment with planning, assurance of national defense and security, environmental protection, financial capacity, efficiency in using land and labor force, and application and transfer of technology.

The remaining two criteria indicate special investment incentives for high-quality FDI projects in the field of high technology with a large impact, and for projects investing in industries and locations where  investment priorities are applied.  

The set of criteria was compiled on the basis of the Law on Investment and related legal documents, consultancy from experts as well as real demand, according to Dr. Ngo Cong Thanh, Vice Chairman of the ISC Member Council.

It will support the People’s Committees of localities and authorized agencies in reviewing and selecting investment projects more effectively as well as help to shorten appraisal time.

The criteria were designed in a form of handbook for easy access to legal regulations related to investment projects. Therefore, it will help shorten the time needed for reviewing and making decisions on approving the investment policy for a project, he said.

The criteria are not legal documents and only serve as a reference for authorities of localities to manage and monitor foreign investment cooperation activities, according to Mr. Thanh.