The government is determined to innovate itself.

Prime Minister Nguyen Xuan Phuc expressed such determination in his speech before 200 Vietnamese enterprises and foreign investors at the "Connection & Integration" gala in Ho Chi Minh City on the evening of November 2.

The Prime Minister emphasized that today, the Vietnamese economic ship is moving out into the open sea of ​​the global economy with an increasingly open economy. Opportunities are ahead and only with a steady hand at the helm can the Vietnamese ship overcome strong winds and ocean waves, move forward, and take advantage of the opportunities that integration brings.

Prime Minister Nguyen Xuan Phuc speaks at the "Connection & Integration" gala to welcome the 2016 foreign economic conference on the evening of November 2 - Photo: Quang Dinh

According to the Prime Minister, after 30 years of implementing the renovation policy, Vietnam has achieved many great achievements of historical significance. In 2015, the GDP reached over 200 billion USD, the average income per capita is increasing, reaching about 2,100 USD, but if calculated by purchasing power parity (PPP), it reached 5,600 USD).

In 2015, total trade turnover reached nearly 330 billion USD, equal to 1.5 times GDP, while this ratio of Singapore was 2.32, Malaysia was 1.28, Thailand was 1.04.

Up to now, Vietnam has more than 21,000 FDI investment projects in operation with a committed capital of nearly 300 billion USD. This sector is increasingly contributing to Vietnam's GDP growth, reaching more than 20% in 2015.

Vietnam always maintains political, economic and social stability, and makes progress towards social justice.

Emphasizing that Vietnam is proactively integrating into the international economy, Prime Minister Nguyen Xuan Phuc said that to date, Vietnam has signed and participated in 14 Free Trade Agreements (FTAs), including new generation FTAs ​​with high standards such as the TPP Agreement, FTAs ​​with 28 EU countries and is negotiating a number of other FTAs.

According to the roadmap, by 2020, Vietnam will have highly preferential free trade relations with the large market of 55 partners, including 15 developed members of the G-20.

This is an opportunity to open up a large space for rapid and sustainable development of Vietnam, at the same time foreign investors coming to do business in Vietnam can easily access these large markets.

In that context, Vietnam's business environment has made significant progress. According to the recently published WB global business environment report, Vietnam ranked 82/190, up 9 places.

However, the Vietnamese economy is facing many difficulties and challenges. Therefore, the Vietnamese Government will be confident and determined to innovate itself, focusing on building an honest, creative, action-oriented Government that serves the people and businesses.

At the same time, create the best investment environment for businesses, considering the success of businesses as the success of the Government.

In that spirit, the Government focuses on creating a legal and institutional framework that is suitable for the market mechanism, Vietnam's conditions and compatible with integration commitments and international practices, making efforts to create the fundamental elements of the business investment environment, maintaining political, social and macroeconomic stability, focusing on ensuring property rights, intellectual property rights, fair competition... so that businesses and people can have confidence, promote internal strength and creativity in investment, production and business.

Committing to the business community, the Prime Minister said that the Vietnamese Government will strive to fulfill its creative function and cooperate effectively and mutually beneficially with the domestic and foreign business community, bringing the Vietnamese ship to the shore of success and hope.

According to TTO