(MPI) - The “Strong Investment Partnerships for a Thriving Vietnam” conference was held in Hanoi on May 15, having the participation of various policy makers, representatives from ministries, international organisations, domestic and international investors, and foreign business associations such as the European Chamber of Commerce in Vietnam (EuroCham), the American Chamber of Commerce in Vietnam (AmCham), the Korean Chamber of Commerce in Vietnam (KoCham), the Korea Trade-Investment Promotion Agency (Kotra), the Japan External Trade Organization (JETRO), the Indian Business Chamber In Vietnam (InCham), the Italian Chamber of Commerce in Vietnam (ICham).
Deputy Minister of Planning and Investment Do Thanh Trung speaks at the event. Photo: MPI
Addressing the event, Deputy Minister of Planning and Investment Do Thanh Trung said that over the past 35 years, the foreign-invested sector is always considered an important component of the Vietnamese economy, and is encouraged by the Party and State to develop, cooperate, compete healthily and fairly with other economic sectors.
With open policies and a favourable, stable, and increasingly improved business environment, Vietnam is one of the leading countries and has obtained many achievements in foreign investment attraction.
The foreign-invested sector has made major contributions to Vietnam’s socio-economic development, bringing investment capital, contributing to the formation of a number of key industries in the country, promoting economic restructuring, import-export, job creation, technology transfer, and fostering the development of domestic enterprises, he added.
The foreign-invested sector has a part in Vietnam’s international integration, expansion of relations with other countries, and promotion of the country’s position in the region and the world. They also assist Vietnam in perfecting the socialist-oriented market economy institution, renovating the growth model, improving labour productivity and the economy’s competitiveness.
Deputy Minister Trung said, the Vietnamese Government has drastically implemented measures for boosting growth, keeping macro-economic stability and ensuring major balances of the economy.
In order to improve the quality and effectiveness of FDI flows, Vietnam has also carried out institutional reform and enhance the investment and business climate, creating favourable conditions for the business community, including foreign investors, in the spirit of “harmonised benefits and shared risks”.
The deputy minister listed three key orientation of Vietnam in the time to come. First, building a science, technology and innovation ecosystem with a flexible management mechanism. Second, developing a strong domestic business sector to cooperate with foreign firms, with priority given to projects in the fields of high, new and advanced technology, modern services, manufacturing industry, information technology, and financial services. Third, promoting its internal strength and competitive edge to enhance the partnership between domestic and foreign invested sectors.
Participants at the conference are foreign investors and leading Vietnamese firms, hailed Vietnam’s efforts in improving the investment environment and creating all possible conditions for investors. “We are eyeing to expand their business and investment in Vietnam in the time to come”, said some foreign businesses.
With two-panel discussions themed “Developing together” and “Fostering new capital flows”, business leaders shared success stories and learned lessons as well as their operations in Vietnam. They also put forth Vietnam’s policies towards foreign investors, and comments on investment trends and tastes of foreign businesses in Vietnam./.
Ministry of Planning and Investment