PM pledges to facilitate foreign investment in Vietnam

The Vietnamese Government will continue creating favourable conditions for foreign businesses to make investment in Vietnam and protect their intellectual property and asset rights.

Prime Minister Nguyen Xuan Phuc (C) takes photo with entrepreneurs

Prime Minister Nguyen Xuan Phuc made the pledge at a meeting on May 12 with representatives from 21 world leading companies from the US, Canada, Japan, the Republic of Korea, the UK, Switzerland, Singapore and China’s Hong Kong, at the 26th World Economic Forum on ASEAN (WEF ASEAN) in Phnom Penh, Cambodia.

He said doing business in Vietnam will give foreign investors access to not only a market with 93 million people in Vietnam but also the greater market of ASEAN and the world, as the country has signed 12 free trade agreements, and is pushing ahead with negotiations on four other pacts.

The PM told the audience that Vietnam’s renewal process and open policies have helped domestic and foreign businesses reap success doing business in the country.

At the meeting, WEF Managing Director Philipp Roesler described the Mekong River region, including Vietnam, as a dynamic area with young population and urged enterprises to invest in the region and create more jobs for young people.

Participating entrepreneurs recognized Vietnam’s high determination and efforts to reform and improve the business investment environment as well as the Government’s support for the foreign business community.

The same day, PM Phuc attended a talk on Vietnam held by the WEF and Vinacapital, during which he said Vietnam strives to realize the average growth target of 6.5-7 percent from now to 2020.

The country will push ahead with the improvement of the market economy institutions and strongly encourage the development of the private economic sector to become an important driving force in the domestic economy, he said.

He re-affirmed the resolve to build a development-facilitating government, restructure the economy and reform the country’s growth model.

VNA

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