Sunday, 26 May 2019

Hanoi follows international development investment trend: Indonesian Ambassador

Updated at Sunday, 17 Jun 2018, 14:58
The Hanoitimes - Hanoi must keep following the international development trend, to catch up with the new technology and science to avoid making Hanoi`s investment environment obsolete.
This was announced by Indonesian Ambassador to Vietnam Ibnu Hadi, in an interview granted to Hanoitimes, during “Hanoi 2018 - Cooperation, Investment and Development” conference on June 17 at the National Convention Center.
Indonesian Ambassador to Vietnam Ibnu Hadi.
Indonesian Ambassador to Vietnam Ibnu Hadi.
What do you think about the investment environment in Hanoi?
Hanoi has made significant achievements, particularly in the last three years in its infrastructure. The capital city definitely commands its leading position and becomes the driving force of economic development in the North and across the country.
Talking about the investment environment in Hanoi, I can say it’s more advantageous than other provinces in term of geographic location, human resource, daily improved infrastructure, convenient administrative procedures and market potential. Doing business in Hanoi will be much easier than the other provinces in all over Vietnam.
Foreign investment has recently played a particularly important role in the economic development of Hanoi. I think it is also the plan for Hanoi to promote attracting foreign investment capital with priorities in the areas of services such as IT and clean industries, technology advancement, high grey matter, healthcare, education…
As said in the previous conference on “Hanoi 2017 - Cooperation, Investment and Development”, the city committed to continue to create an investment environment that is clear, transparent and consistent with process of international integration. And after nearly one year, I can see a quite good improvement in term of investment environment in Hanoi.
What do you think about the opportunities for investment cooperation in Hanoi for foreign businesses in general and Indonesian enterprises in particular?
Hanoi has a developed and synchronous infrastructure network, industrial parks, export processing zones, and Noi Bai International Airport are just 40 km away from the city center. Hai Phong and Cai Lan ports which receive investment for import/export purposes are only 120km from Hanoi. The city is the transport hub of the North with a developing railway and road system. I think that the opportunities for investment cooperation in Hanoi for foreign businesses are still many.
As an foreign investor to invest in Hanoi, I could see also Hanoi has made a great effort by offering new investors very attractive incentives (for example: Income Tax reduction, advantageous land lease, etc)
At the moment, one of the largest investment group from Indonesia is investing in Hanoi under the name of Ciputra Group. And the result from this investment come out quite successful. With such these opportunities in many fields for investment, I do believe that in the future, Hanoi will attract more foreign firms in which Indonesian companies will also take part.
Do you have any suggestions to help Hanoi continue to improve the investment environment, as well as facilitate for foreign businesses?
With very great achievements of Hanoi for the last 3 decades, I believe in the near future, Hanoi will be one of the hottest investment destination not only in Vietnam but also in the South East Asia region.
I proposed four groups of measures to improve the investment environment in Hanoi. Firstly, Vietnamese officials should leave their desks and participate in international conferences, meet investors and seek opportunities to show how their area’s products differed from elsewhere.
Secondly, the procedures in Vietnam in general and Hanoi in particular are still quite slow, the authority should also improve one gate process, shorten the paper process and implement advantage the online registration.
Thirdly, Hanoi must keep following the international development trend, to catch up with the new technology and science to avoid making the Hanoi investment environment obsolete. The last one, more attractive incentives for new foreign investors and enhance current investment cooperation.
Thank you very much!
Ha Phuong
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