Illustrative image (Source: VNA)
Foreign-invested enterprises play an important role in bolstering the growth of many sectors, especially the processing and manufacturing industries, according to the General Statistics Office (GSO).
At a press conference on June 27 focusing on FDI enterprises’ operation in the 2000-2013 period, the GSO also affirmed that the foreign-invested sector has helped in economic re-structuring and dealing with many social issues while furthering the country’s integration into the global economy.
By the end of 2013, there were 9,093 FDI enterprises operating in Vietnam, a six-fold increase compared to the figure in 2000. Of the total, wholly foreign-owned enterprises accounted for 83 percent.
The foreign-invested sector provided jobs for more than 3.2 million workers during the reviewed period, eight times the figure in 2000.
The GSO also reported that FDI enterprises accounted for 30.5 percent of total financial contribution to the State budget of all enterprises in the country and 45.4 percent of their total profit.
However, the office noted that low added value is a weakness of the FDI sector as most enterprises operate in assembling and sub-contracting, such as automobile assembly and garment and shoe making.
Pham Dinh Thuy, chief of the GSO’s Industrial Statistics Department, said while Vietnam has pinned great hope on FDI enterprises for the transfer of technology and professional skills, the situation so far has fallen short of expectation.
Thuy added that many FDI enterprises also failed to fully carry out their commitments in terms of environmental protection./.
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