Prime Minister calls on investors to come to Vietnam with both mind and heart

Speaking at the Forum, Prime Minister Nguyen Xuan Phuc called on investors to come to Vietnam with both mind and heart.

On the morning of December 5, in Hanoi, Prime Minister Nguyen Xuan Phuc attended the Vietnam Business Forum (VBF). This year's forum has the theme: Enhancing the role of the private economic sector. Attending the forum were leaders of development partners such as the World Bank in Vietnam, IFC in the Vietnam - Laos - Cambodia region; representatives of development partners, leaders of Vietnamese ministries and sectors, and more than 500 representatives of business associations and domestic and foreign investors.

Prime Minister Nguyen Xuan Phuc meets investors at the Forum.

Established in 1997, the Vietnam Business Forum is held twice a year, providing an opportunity for investors to directly dialogue with the Vietnamese Government on issues of concern in production and business activities.

Representatives of domestic and foreign investors highly appreciated Vietnam's recent efforts to improve the business investment environment, helping Vietnam's investment environment ranking increase by 9 places. Vietnam continues to demonstrate itself as an attractive investment destination with cheap labor, political stability, a large consumer market and is becoming a regional production base as many FDI enterprises are moving their production facilities to Vietnam.

Prime Minister Nguyen Xuan Phuc speaks at the Forum.

In the spirit of frank dialogue, investors also said that Vietnam needs to continue to improve many policies on creating connections between foreign direct investment (FDI) enterprises and domestic enterprises; reform tax administrative procedures; continue direct dialogue between enterprises and authorities at all levels; improve the problem of increasing environmental pollution so that investors can feel secure living and investing in Vietnam; improve the quality of human resource training. In addition, Vietnam needs to continue to improve the health of the banking system; simplify administrative procedures.

One of the issues that many investors are concerned about is how to connect FDI enterprises with Vietnamese enterprises, especially small and medium enterprises, so that Vietnamese enterprises can participate in the production chain of FDI enterprises.

Proposing a solution, Mr. Han Dong Hee, Chairman of the Korea Chamber of Commerce and Industry, said that it is necessary to establish relationships to buy and sell spare parts and products from Vietnamese enterprises. There should be a policy to expand channels so that FDI enterprises can access intermediate goods of Vietnamese small and medium enterprises.

Prime Minister attends Business Forum.

According to Mr. Han Dong Hee, to strengthen the connection between foreign FDI enterprises and Vietnamese enterprises, it is necessary to establish a two-way information channel. It is necessary to establish an agency to connect the two sides, between FDI enterprises and Vietnamese small and medium enterprises, to help both sides seek investment and business opportunities. To do that, it is necessary to establish an Investment Council to provide information about Vietnamese small and medium enterprises to FDI enterprises, so that both sides have specific information about each other before working together.

Speaking at the Forum, Prime Minister Nguyen Xuan Phuc raised 7 issues raised and discussed by investors, namely: enhancing the capacity of small and medium enterprises; promoting supporting industries; improving human resources and training needs; developing capital markets; improving infrastructure and mechanisms of PPP, BOT, BO, BT…; clean and renewable energy; climate change and environmental protection. These are very practical topics and in line with Vietnam's economic development strategy.

The Prime Minister emphasized that in the 2016-2020 Socio-Economic Development Strategy, the 12th Congress of the Communist Party of Vietnam determined to create all favorable conditions for the strong development of Vietnamese enterprises, especially private enterprises, as a driving force to enhance the competitiveness and autonomy of the economy.

The Prime Minister took souvenir photos with representatives of investors and partners.

The Prime Minister also affirmed that Vietnam is committed to continuing to improve market economic institutions, legal policies, administrative reforms, creating a favorable investment and business environment, enhancing national competitiveness, creating all conditions for the private economic sector to develop strongly; calling on the Vietnamese business community to proactively and actively participate more deeply in the process of economic restructuring through diversifying investment activities, focusing on the form of public-private partnership (PPP). Encourage the spirit of entrepreneurship and innovation; improve competitiveness and quality of products and services.

Another important point is to strengthen mutually beneficial cooperation and development between the domestic private economic sector and the FDI sector in the national economy. The Prime Minister stated: On the part of FDI enterprises, the Government wishes for persistent investment cooperation, trust in Vietnam's reforms, promote the transfer of advanced technology, train human resources, share management experience, be socially responsible, join hands with Vietnam to protect natural resources, environmental sustainability and a clean living environment for Vietnam.

“Come to Vietnam with your brain, that is, modern technology, advanced management, and your heart, that is, upholding standards, business ethics and corporate culture,” Prime Minister Nguyen Xuan Phuc emphasized.

Although appreciating the role of the FDI sector, the Prime Minister said that the Vietnamese economy cannot develop strongly without an effective and strong domestic private economic sector. This is not a contradictory view, but on the contrary, it complements and interacts in a positive way, promoting healthy competition, creating vitality and development for the entire economy. Therefore, all economic sectors as well as the people benefit.

To resolve the difficulties and proposals of investors at the Forum, the Prime Minister requested the Ministries and branches to receive them for processing and resolution. The Ministry of Planning and Investment continues to monitor and urge the resolution of proposals and recommendations, periodically report to the Prime Minister on the implementation results and notify and respond to the Forum that the Government has seriously, methodically, professionally and responsibly accepted and revised the proposals and recommendations.

“I discussed with Minister of Planning and Investment Nguyen Chi Dung and some Deputy Ministers present today that we listen to feedback but must have measures to handle and resolve it properly and promptly. We do not listen to know and leave it there. The main thing is what the State gets, what businesses get, what the people and workers get. These three questions are being raised to make better policies, first of all to improve the investment environment more strongly in the coming time,” said the Prime Minister.

According to VOV