Prime Minister: Create all conditions for foreign investors to feel secure in staying with Vietnam

On the morning of April 22, the Government held a conference for the Prime Minister to meet with foreign investors. Comrade Pham Minh Chinh - Politburo member, Prime Minister chaired the conference.

Prime Minister Pham Minh Chinh chairs a meeting with foreign investors. Photo: VGP/Nhat Bac

Panoramic view of Nghe An province bridge. Photo: Pham Bang

REMOVE DIFFICULTIES, STRONGLY PROMOTE AND IMPROVE INVESTMENT EFFICIENCY

Opening the conference, Prime Minister Pham Minh Chinh emphasized that Vietnam consistently and affirms its view that the foreign-invested economy is an important component of the economy, and is encouraged and facilitated for long-term development, cooperation and healthy competition with other economic sectors.

The Prime Minister asked delegates to focus on exchanging, discussing, and assessing the current situation, clearly identifying bottlenecks, difficulties, obstacles, opportunities, and advantages, on that basis proposing specific tasks and solutions to continue to strongly promote and improve the efficiency of foreign investment in Vietnam in the context of difficulties and challenges facing the world, the region, and Vietnam.

Prime Minister Pham Minh Chinh delivered the opening speech at the conference. Photo: VGP/Nhat Bac

Minister of Planning and Investment Nguyen Chi Dung said that the socio-economic situation in 2022 has achieved positive results, with many international organizations identifying Vietnam as a "bright spot in the gray picture" of the global economy in 2022.

Vietnam's position on the rankings has made significant progress. Many prestigious international organizations highly appreciate the results and prospects of economic development, upgrade credit ratings and positively forecast Vietnam's GDP growth in 2023 at 6.3 - 7.0%.

Minister of Planning and Investment Nguyen Chi Dung: "The conference shows the interest and spirit of companionship of the foreign business community towards Vietnam." Photo: VGP/Nhat Bac

With an optimistic but not subjective spirit, entering 2023, Vietnam believes that there will be many challenges; the economy is still modest in scale, highly open, and its resilience and competitiveness are still limited. This is an important year for Vietnam, a "pivotal" year in the 2021-2025 medium-term plan to restructure the country's economy and a time to "accelerate" the implementation of the 5-year socio-economic development plan goals for 2021-2025.

The goal is that by 2025, Vietnam will be a developing country with modern industry, surpassing the lower middle income level. Thereby, creating a breakthrough for the next 5 years (2025-2030) with the goal of becoming a developing country with modern industry and upper middle income. Strive to become a developed country with high income by 2045.

Representatives of foreign business associations in Vietnam attended the Conference. Photo: VGP/Nhat Bac

Mr. Nitin Kapoor - Co-Chairman of the Vietnam Business Forum (VBF) Alliance, Chairman of AstraZeneca Vietnam. Photo: VGP/Nhat Bac

To achieve the above goals, from now on, not only the Government, ministries, branches, and localities but also businesses need to act early and from afar to overcome challenges, proactively adapt, take advantage of opportunities, develop sustainably, and bring new values.

At the Conference, ministries, branches, localities and the foreign investment business community jointly assessed the impact of the world and domestic economic situation on the investment wave and business production activities of enterprises; identified opportunities, challenges and difficulties to have proactive solutions and policies to adapt to remove obstacles and promptly seize investment cooperation opportunities in the new situation.

PRIME MINISTER CALLS ON FOREIGN INVESTORS TO CONTINUE TO TRUST AND STAY IN VIETNAM

Concluding the conference, Prime Minister Pham Minh Chinh requested ministries, branches and localities, based on their functions, tasks, powers, spirit and responsibilities, to proactively and promptly resolve difficulties raised by foreign investors in the fastest, most timely and most effective manner.

Prime Minister Pham Minh Chinh delivered a concluding speech at the conference. Photo: VGP/Nhat Bac

The Prime Minister highly appreciated, acknowledged and thanked the cooperation, companionship and sharing of difficulties of the business community in general and foreign invested enterprises in particular, who have made continuous efforts to help Vietnam overcome challenges for rapid recovery and sustainable development.

The Prime Minister affirmed that Vietnam creates all conditions to create a favorable, safe, transparent, and highly competitive environment for foreign investors to confidently invest long-term in Vietnam with the spirit of "equality, mutual development, mutual benefit, and responsibility to society, workers, and environmental protection; ensuring harmonious benefits and shared risks; and continuing to strongly reform administrative procedures".

Chairman of the Provincial People's Committee Nguyen Duc Trung and Vice Chairman of the Provincial People's Committee Bui Thanh An chaired the Nghe An province bridge. Photo: Pham Bang

Vietnam is committed to creating the best business environment towards OECD standards, which are: Maintaining political, social and macroeconomic stability; Removing economic bottlenecks in legal institutions, infrastructure and human resources; Developing supply chains, reducing transaction costs, especially logistics and administrative costs.

In addition, building a stable and highly predictable policy environment, ensuring transparent and fair implementation and promoting accountability; friendly cooperation, listening and respecting each other's opinions, and jointly solving difficulties and challenges.

The Prime Minister called on foreign invested enterprises to continue to trust and stick with Vietnam in the development process. The more difficult and challenging it is, the more we must unite, make efforts, be proactive and creative, "turn danger into opportunityby“No matter how high the mountain is, there is still a way to climb/No matter how dangerous the road is, there is still a way to go.”".

Leaders of departments, branches and sectors attended the conference at the Nghe An province bridge. Photo: Pham Bang

In the coming time, for ministries, branches and localities, the Prime Minister requested to continue to thoroughly grasp and effectively implement the Party's guidelines and policies, the State's policies and laws, and the direction of the Government and the Prime Minister; create a favorable investment and business environment with the motto "Taking people and businesses as the center, the subject, the goal, the driving force and the resource for development".

Continue to assess the current situation, review and find solutions to improve the investment and business environment and create favorable conditions and reduce costs for businesses; promptly and effectively resolve recommendations and proposals from businesses; promptly complete relevant legal regulations and policies.

Promote public-private cooperation, unleash and effectively use all development resources; strengthen forecasting, proactively and flexibly manage, adapt to new situations, promptly respond to emerging situations; Closely monitor and promptly update developments in the world situation, fiscal and monetary policies of countries with large economic scale, which are important trade and investment partners of Vietnam.

Representatives of foreign investors and businesses in Nghe An attended the conference. Photo: Pham Bang

For the business community and investors, the Prime Minister suggested building a long-term, sustainable, and environmentally friendly business strategy, focusing on emerging industries such as digital transformation, green transformation, circular economy, knowledge economy, and climate change response.

Implement well the business culture, regimes and policies for employees and accompany the authorities at all levels; promote the spirit“harmonized benefits, shared risks”; “said must be done; committed must be implemented effectively”"; proactively innovate production and business models, restructure enterprises associated with development according to green economy, digital economy, circular economy, constantly innovate, create, build and enhance brands..