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Investors will now have better access to vital economic data on Vietnam
In a move that Minister of Planning and Investment Vo Hong Phuc described as a “turning-point” in the modernisation of processes at the ministry, the MPI last week unveiled a new data centre, which will cover investment situation, macroeconomic outlook and legal framework.
“This is the first step towards upgrading the IT system in our ministry and will help investors, economists and citizens to access economic data in investment information more easily,” Phuc said.
Vietnam has emerged as an attractive destination for investment in recent years, but prospective investors struggle to access information on the nation’s business climate.
Many foreign investors said the difficulty involved in getting information on Vietnam is a black mark against the country when they came to making decisions on where to invest.
The MPI is charged with summarising macroeconomic data and providing details on investments and Vietnam’s legal framework but much of the information on the ministry’s website was of poor quality or out-of-date. But Phuc said the newly inaugurated data centre would help improve information access.
Mai Tien Dung, director at MPI’s Centre for Information Technology, said the data centre applied the latest technologies to allow people to access the MPI’s related information in an easy and effective manner.
Dung said the data centre was just the first step towards modernising work formalities at the ministry.
The MPI also planned to upgrade its website to make it “more useful to investors and researchers”, said Phuc.
“Our website will be the most effective channel for finding macroeconomic data and investment information in Vietnam,” he added.