Vietnam takes action to attract private and foreign direct investment
The Hanoitimes - The annual Vietnam Business Forum 2020 with the theme “Challenges & Opportunities in the new normal” opened on December 22 in Hanoi.
The Vietnamese government has required ministries, government provinces and ministerial level agencies to take actions on promoting investments from the private sector and foreign sources on infrastructure development, bringing into full play the bilateral and multilateral free trade agreements (FTAs), Deputy Prime Minister Pham Binh Minh told the Vietnam Business Forum (VBF) 2020 held on December 22 in Hanoi.
|The opening ceremony of the VBF 2020 is held in Hanoi. Photo: Nhat Minh|
Speaking at the opening ceremony of the VBF 2020, Deputy PM Minh underlined that creating more conveniences for doing business in Vietnam and improving business environment are the priorities of the Vietnamese government.
“A series of measures supporting manufacturing sectors and boosting the public investment and consumption have been launched. Besides, the Prime Minister has established a task-force on foreign-direct investment attraction in the normal,” he said.
With the determination of the government, the Deputy PM said that activities to promote multilateral trade have been rolled out such as the signing of the EU-Vietnam FTA, the conclusion of the UK-Vietnam negotiation, and the on-going negotiations of other FTAs. “All the activities aim to create favorable conditions for doing business in the new normal,” Mr. Minh said.
Among the three priorities, the Deputy PM said that the government will focus on macro-economic stabilization to boost the comprehensive growth and flexible currency and financial policies management, among others as well as stimulating consumption and promoting the process of digital transformation.
The deputy prime minister also said that the new normal requires new ways of planning and implementing policies to attract investment and promote development. Despite the swift and sustainable leadership of the authorities, the business community still plays a key role in the implementation of the strategy.
He stressed on the role of the VBF, saying it is a bridge in a negotiation mechanism between local enterprises and the government. “I hope the forum will offer practical policies, helping the government create the most favorable conditions for businesses to revive and enhance economic growth,” Mr. Minh said.
Mr. Vu Tien Loc, the Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), said that the business community expects concrete and fast measures from the government to remove bottlenecks which are hindering their business operation and preventing them from grasping opportunities from the FTAs.
- Danish feed company takes major share in Vietnam shrimp manufacturer
- Vietnam holds potential to become new destination for global investors
- FDI disbursement in Vietnam rises 2% to US$2.5 billion in Jan-Feb
- Vietnam kicks off Tuyen Quang – Phu Tho expressway construction
- Vietnam eyes greater regional integration in 4th amendment to ASEAN Investment Agreement
- Foxconn to recruit 1,000 workers in Vietnam
- Vietnam 5G smartphones go on sales in US
- Investors ramp up investment activities after Tet
- Vietnam remains second most favorite destination among Japanese firms shifting production: JETRO
- Finance ministry proposes solutions to speed up state firm privatization
Hanoi ready to restart socio-economic activities with Covid-19 under control: Mayor
Vietnam needs to build hub airports
The reasons that make Son Doong Cave to be a great wonder of the world
Vietnam repatriate citizens from Myanmar
Online schooling - a challenge for students and teachers
Vietnam Airlines attendant prosecuted for spreading Covid-19
Exhibition: “Those who do not move, do not notice their chains”
Vietnam holds potential to become new destination for global investors
March will be eventful month with loads of cultural activities