Using public investment to lead and activate all of society's resources.

The Government Office has just issued Notice No. 480/TB-VPCP dated November 22, 2023, summarizing the conclusions of the Prime Minister at the Prime Minister's Conference with the foreign investment business community.

The Prime Minister highly appreciated the heartfelt, insightful, and responsible opinions of representatives from foreign businesses and investors; representatives from ministries, sectors, and localities also exchanged views and clarified issues of mutual concern.

The Prime Minister requested relevant ministries and agencies to seriously consider the opinions of businesses and investors, proactively address them immediately, and provide clear and specific written responses to proposals and recommendations within their authority, or promptly compile and report them to the competent authorities as prescribed.

The Prime Minister expressed gratitude to investors who have always accompanied, shared, and stood side-by-side with Vietnam in overcoming difficulties and challenges, seizing opportunities to build an independent and self-reliant economy associated with proactive and effective deep and substantive international integration; and who, despite the rapidly changing, complex, and unpredictable global and regional situation, have still committed to coming to Vietnam and expanding investment in the future.

Against this backdrop, the Prime Minister reiterated three commitments to investors:

- Firstly, always protect the legitimate rights and interests of investors in all circumstances.

- Secondly, we will always stand alongside businesses to overcome difficulties and challenges, seize opportunities and favorable conditions so that foreign investors can ensure their interests and operate stably, efficiently, and for the long term in Vietnam, based on the principle of harmonious interests and shared risks.

- Thirdly, while avoiding the criminalization of economic and civil relations, we must punish those who do wrong and violate the law to protect those who do right, creating an environment and ecosystem for production and business that is open, transparent, equitable, healthy, and sustainable.

Facilitating foreign investment

To fulfill commitments and support foreign investors, the Prime Minister requests that ministries, sectors, and localities:

Continue to seriously and effectively implement the Party's guidelines and policies, and the State's laws and regulations, especially Resolution No. 41-NQ/TW of the Politburo on promoting the role of entrepreneurs in the new situation to create a favorable investment and business environment with the motto "Putting the people and businesses at the center, as the subjects, as the goals, driving forces, and resources for development".

Continue to review, amend, supplement, and perfect foreign investment cooperation policies to suit the practical situation, ensure high competitiveness, international integration, and align with the orientation, planning, and development requirements of the country, especially in emerging sectors such as digital transformation, green transformation, circular economy, sharing economy, semiconductor and chip manufacturing, etc.; continue to promote the development of strategic infrastructure, especially transportation infrastructure, to reduce logistics costs, lower product costs, and increase competitiveness.

Proactively develop training and development plans within their authority to improve the quality of human resources, especially those serving the development of digital transformation, green transformation, circular economy, sharing economy, and manufacturing sectors.

Continue to focus on improving the investment and business environment and resolutely cut down on cumbersome administrative procedures that waste time, effort, and opportunities; create favorable conditions and reduce costs for businesses; effectively implement solutions for debt restructuring, debt deferral, interest rate reduction and exemption; defer, postpone, exempt, and reduce taxes, fees, charges, land rent, etc., in the current difficult context.

We will seriously listen to the suggestions and proposals of businesses and investors, including foreign investors, with an open mind, a spirit of sharing, understanding, and collaboration. We will address problems wherever they arise, with a spirit of not saying no, not saying it's difficult, and not saying yes without taking action.

Promoting public-private partnerships, unlocking and effectively utilizing all resources for development, using public investment to lead and activate all social resources, including foreign investment.

Strengthening situational awareness, especially regarding fiscal and monetary policies, and making accurate forecasts are crucial for appropriate, flexible, and timely policy responses, thereby creating favorable conditions for foreign investors.

Increase the localization rate and transform and develop supply chains with the participation of Vietnamese businesses.

For the business community and foreign investors, the Prime Minister emphasized several proposals and instructed the Ministry of Planning and Investment to inform relevant organizations, associations, and businesses.

Specifically, this involves researching and developing long-term, sustainable investment and development strategies that align with national, sectoral, and regional planning, as well as Vietnam's unique potential, outstanding opportunities, and competitive advantages.

We strive to uphold a strong entrepreneurial culture, implement appropriate policies and regulations for employees, and work alongside all levels of government for the benefit of businesses, investors, and the Vietnamese people, with a spirit of harmonious benefits and shared risks.

Associations need to perform their functions and duties well; promptly inform and report on the difficulties and obstacles faced by members, businesses, and investors in the process of investing and doing business in Vietnam; promptly propose appropriate policies and laws; and serve as an important bridge with the Vietnamese State and the Vietnamese people.

Enhancing the localization rate, transforming and developing supply chains with the participation of Vietnamese businesses, engaging in human resource training, investing in infrastructure, contributing to the building and improvement of institutions, and working with Vietnamese businesses to modernize national and corporate governance.