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Vietnam ready to facilitate foreign investment
Vietnam is doing its utmost to implement its commitments to the national community and improve institutions to create more favourable conditions for foreign investors, said Deputy Prime Minister Hoang Trung Hai.
Mr Hai delivered the remark at a business forum in Hanoi on June 5 that attracted 1,000 delegates from domestic and foreign businesses.
“The Vietnamese Government’s promise of an open, transparent investment environment with clear incentives indicated in its WTO commitments is the most convincing evidence of Vietnam ’s stable and prosperous business climate,” Mr Hai said, adding that this will make foreign companies confident of investment in the country.
The deputy PM said the entry of more than 50,000 businesses with a total of around US$30 billion each year showed Vietnam’s strong growth and busy business environment.
The forum on the theme “Vietnam Post-WTO: Fascinating Investment Opportunity” served as a venue for local and foreign entrepreneurs to exchange views on the nation’s investment policies and opportunities.
Deputy Minister of Planning and Investment Nguyen Bich Dat told delegates that the government is calling for foreign investment in new material and hi-tech production, biological and information technology, mechanical manufacturing, environmental protection, education and training, and infrastructure development.
According to the Ministry of Planning and Investment, Vietnam has attracted more than 9,000 projects with a combined registered capital of US$100 billion from 81 countries and territories around the world, including hundreds of multinational firms such as Sony, Canon, IBM, Intel, Ford, Toyota and BP.
The foreign-invested sector has contributed 55 percent of Vietnam’s total export turnover, 36 percent of its industrial production, and 17 percent of gross domestic product (GDP).
In a business environment report issued recently by the World Bank, Vietnam was placed 91st among 178 countries and territories in terms of business favourableness, up 13 positions from 2006.
The “Doing business in Vietnam” forum is one of the most important events in the Global Summit of Women, which is being hosted by the Vietnam Chamber of Commerce and Industry (VCCI) from June 5-7.
VOV
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