PwC Global Chairman outlines 3 conditions to make Vietnam an 'investment paradise'

To become an “investment paradise”, Vietnam needs a specific roadmap for attracting investment, extensive tax reform and high-quality human resources.

These are the recommendations made by Mr. Robert Moritz - Global Chairman of PricewaterhouseCoopers (PwC), on the sidelines of the CEO Summit in Da Nang.

Mr. Robert Moritz highlighted the expectations of foreign investors for Vietnam; opportunities for Vietnamese investors abroad.

PricewaterhouseCoopers (PwC) Global Chairman Robert Moritz.

Mr. Robert Moritz also mentioned the irresistible trend of globalization for businesses and how globalization benefits not only businesses but also people in countries around the world.

PV:In his opinion,ConferenceCEO SummitDgoWhat impact will the COVID-19 pandemic have on the world economy if it occurs in Vietnam?

UMBRELLAMr. Robert Moritz:This CEO Summit is expected to promote relations between member economies in the region and create opportunities for the parties to sit down and talk with each other. The presence of US President Donald Trump at this CEO Summit is a good sign for APEC because in 2016, US President [Barack Obama-ND] was unable to attend.

We also expect many good initiatives to emerge from this Summit, although this will require more action from all sides. The dialogues will focus on the future of work and the importance of women in the region. We will also discuss how to promote trade and technology development to benefit the economies of the region.

PV:Mr. Stonewhatahnhhow aboutroleVietnam's position in APEC?

UMBRELLAMr. Robert Moritz:Vietnam is a country that has maintained a good economic growth rate and that is very important. Over the past few years, Vietnam's economy has always maintained stability and created many attractive business opportunities. Therefore, foreign investors want to invest heavily in Vietnam.

According to a survey conducted by PwC, Vietnam is among the top 5 countries and economies that APEC CEOs want to invest in, which is considered to have strategic significance in the context of Vietnam's population size undergoing major changes.

PV:In his opinion,cforeign enterprises expectI like youhowwheninvest in Vietnamwhere

UMBRELLAMr. Robert Moritz:Like any country in the world, to become a “paradise” for investors, Vietnam needs to establish an attractive and strong investment attraction roadmap. Over the past few years, the investment environment in Vietnam has improved significantly and foreign investors expect this trend to continue.

In addition, Vietnam needs to create long-term stability in investment and business regulations as well as carry out extensive tax reforms. This will build confidence for foreign businesses when investing in Vietnam because they know clearly how they will benefit.

However, the most important thing that Vietnam needs to do is to ensure it has a quality human resource. This is also something that PwC and many foreign enterprises are very interested in.

Vietnam needs to train human resources capable of working in high-tech industries. Training high-tech workers not only serves current needs but also serves the future in order to attract more foreign investment.

PV:So according to you, Vietnamese businessest Southoh my godi nhhowwhenforeign investmenti?

UMBRELLAMr. Robert Moritz:I think that Vietnamese enterprises can absolutely invest abroad and this is a very interesting trend because up to now, Vietnamese enterprises have only focused on the domestic market.

However, to continue maintaining the current economic growth rate, Vietnamese enterprises need to focus on exporting and promoting foreign investment and participating in the global supply chain.

However, Vietnam also needs to ensure that goods from other countries can be easily imported into Vietnam to help improve people's quality of life and business development.

PV:Mr. StonewhatahnhWhat about the impact of globalization?economysingle and commercialICoh myistainfamily?

UMBRELLAMr. Robert Moritz:There have been voices expressing concerns about the future trend of globalization. However, we need to clearly and correctly understand the nature of globalization.

Globalization is essentially a country’s connection to opportunities outside of itself that can lead to real success for itself. These opportunities include access to global customers, international supply chains, and common infrastructure and technology.

This trend of interconnectedness continues and expands despite the concerns of many people, mainly politicians, who believe that, along with globalization, some countries will have to accept losses in terms of both job creation and ensuring economic growth.

So I think we need to separate the political conversation about globalization from the reality that is happening to businesses globally. For businesses to be successful, they have to connect with each other and that is globalization.

However, globalization can only succeed when businesses accept to share the benefits they receive equally with all people through job creation, expanding the middle-income class and improving the quality of life.

PV:Please cthank young!

According to VOV