Vietnam facilitates foreign firms’ investment activities: PM

Prime Minister Pham Minh Chinh chaired a hybrid meeting with foreign-invested enterprises and business associations on September 17, during which he pledged to create favourable conditions for FDI enterprises to invest successfully and sustainably in Vietnam. 

In his remarks, PM Chinh said he held many meetings with foreign enterprises and business associations both at home and abroad in the last two years.  

The Government leader said besides difficulties and challenges, Vietnam has many opportunities to further boost its development, stressing that Vietnam continues to build and perfect a socialist-oriented market economy, a rule-of-law socialist State, and a socialist democracy.

Prime Minister Pham Minh Chinh (R) shakes hands with a delegate at the meeting (Photo: VNA) 

In the context of the  the world's unpredictable, complicated situation, Vietnam prioritises stabilising macro-economy, controlling inflation, and ensuring major balances of the national economy; managing monetary and fiscal policies in a harmonious, reasonable, effective and mutually supportive manner; and effectively  implementing the socio-economic recovery and development programme in order to create a favourable, safe and transparent business and investment environment, he said.

Vietnam will create a safe and transparent environment and favourable conditions for foreign investors to make long-term investments in the country in the spirit of equality; mutual development and benefit; responsibility for society, employees, and the environment, PM Chinh affirmed. 

Vietnam is committed to creating the best business environment in line with the OECD Guidelines for Multinational Enterprises (OECD Guidelines), focusing on maintaining socio-political and macroeconomic stability; removing bottlenecks of the economy in terms of legal institution, infrastructure and human resources; developing supply chains and reducing transaction costs; building stable and highly predictable policies among others, he went on.

For foreign investment, Vietnam prioritizes attracting projects in the fields of high technology, innovation, research and development; facilitating Vietnamese enterprises’ participation in the value chain; promoting digital, green and circular economies towards sustainable development, he noted.

He expected foreign-invested enterprises to continue to strengthen linkages and create favourable conditions for their Vietnamese peers to join in production and supply chains, contributing to making Vietnam a centre in regional and global value chains as soon as possible.

The Government leader requested ministries, sectors and localities to effectively implement the guidelines of the Party, policies and laws of the State, and directions of the Government and the Prime Minister on national governance in a modern, effective and competitive manner;and perfecting institutions and policies on foreign investment cooperation.

Ministries and sectors were demanded to have plans and solutions to thoroughly solve difficulties facing foreign-invested enterprises; and focus on improving business investment environment and simplifying administrative procedures to make it easier for foreign firms to operate in Vietnam. 

The PM said that priority should be given to further promoting support industries in order to create a breakthrough in forming new production capacity associated with science and technology application, innovation and digital transformation; and developing large-scale logistics centres.

He took the occasion to thank FDI enterprises for their support and contributions to Vietnam’s COVID-19 prevention and control efforts, and the country’s socio-economic development and production and business recovery./.