Take public investment as the lead and activate all social resources

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

The Prime Minister highly appreciated the enthusiastic, profound and responsible opinions of representatives of foreign enterprises and investors; representatives of leaders of ministries, branches and localities also discussed and clarified issues of mutual concern.

The Prime Minister requested relevant ministries and branches to seriously absorb the opinions of businesses and investors, proactively handle them immediately, and have clear and specific written responses to proposals and recommendations within their authority or promptly synthesize and report to competent authorities according to regulations.

The Prime Minister expressed his gratitude to investors who have always accompanied, shared, and stood side by side with Vietnam to overcome difficulties and challenges, taking advantage of opportunities to build an independent and self-reliant economy associated with proactive, active, deep, substantial and effective international integration; in the context of the world and regional situation continuing to have many rapid, complex and unpredictable fluctuations, they are still committed to coming to Vietnam and expanding investment in the coming time.

In the above context, the Prime Minister reiterated three commitments to investors:

- First, always protect the legitimate rights and interests of investors in any case.

- Second, always accompany businesses to overcome difficulties and challenges, take advantage of opportunities and advantages so that foreign investors can ensure benefits, long-term stable and effective operations in Vietnam on the principle of harmonious benefits and shared risks.

- Third, do not criminalize economic and civil relations, but handle 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 public, transparent, equal, healthy and sustainable.

Facilitate foreign investors

To fulfill commitments and accompany foreign investors, the Prime Minister requests ministries, branches and localities:

Continue to seriously and effectively implement the Party's guidelines and policies, the State's policies and laws, 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 "Taking people and enterprises as the center, the subject, the goal, the driving force and the resource for development".

Continue to review, revise, supplement and perfect foreign investment cooperation policies in line with practical situations, with high competitiveness, international integration, in line with the orientation, planning and requirements of national development, especially in emerging industries such as digital transformation, green transformation, circular economy, sharing economy, semiconductor and chip manufacturing, etc.; continue to promote the development of strategic infrastructure, especially transport infrastructure, to reduce logistics costs, reduce product costs, increase competitiveness, etc.

Proactively develop training and development plans to improve the quality of human resources, especially human resources 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 extension, interest rate exemption and reduction; extend, postpone, exempt and reduce taxes, fees, land rents, etc. in difficult contexts.

Seriously listen to the recommendations and proposals of businesses and investors, including foreign investors, with the spirit of openness, sharing, understanding and companionship. Resolve any problems with the spirit of not saying no, not saying difficult, not saying yes but not doing.

Promote public-private cooperation, unleash and effectively use all resources for development, take public investment as the leader and activate all social resources, including foreign investment.

Strengthening the work of grasping the situation, especially regarding fiscal and monetary policies, and forecasting closely to reality to have appropriate, flexible, and timely policy responses and create favorable conditions for foreign investors.

Increase the localization rate, conversion, and development of supply chains with the participation of Vietnamese enterprises

For the business community and foreign investors, the Prime Minister emphasized a number of recommendations and assigned the Ministry of Planning and Investment to notify relevant organizations, associations and enterprises.

Specifically, research and develop long-term, sustainable investment development strategies in accordance with national planning, industry planning, regional planning and distinct potentials or outstanding opportunities, and competitive advantages of Vietnam.

Implement well the business culture, regimes and policies towards employees and accompany the authorities at all levels, for the benefit of enterprises, investors and Vietnamese people in the spirit of harmonious benefits and shared risks.

Associations need to perform their functions and tasks well; promptly inform and report on problems and difficulties of members, businesses and investors in the process of investment and business activities in Vietnam, promptly recommend and propose appropriate policies and laws, and be an important bridge with the Vietnamese State and the Vietnamese people.

Increase the rate of localization, conversion, and development of supply chains with the participation of Vietnamese enterprises, participate in human resource training, invest in infrastructure, contribute to the construction and improvement of institutions, and work with Vietnamese enterprises to innovate national governance and corporate governance in a modern direction.