In his speech, Prime Minister Nguyen Xuan Phuc has affirmed that Vietnam always welcomes international media to the country to cover its development and global integration. The PM highlighted Vietnam’s significant socio-economic achievements as well as its efforts to renovate and improve the domestic business climate over the past years.Meeting the foreign media on the sidelines of the annual meeting of the World Economic Forum (WEF) 2017 in Davos, Switzerland on January 18 (local time), the PM spoke on the Vietnamese government’s determination to build a transparent and constructive cabinet in service of the people and businesses.
Minister Nguyen Xuan Phuc attended a dialogue with the World Economic Forum (WEF)’s member corporations
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The PM reiterated that Vietnam always endeavours to develop an open and transparent business environment, making it easier for foreign enterprises to do business in the country, adding that Vietnam attaches importance to social welfare in tandem with economic growth, social progress and justice and environment protection.
He also highlighted Vietnam’s advantages including a 55-million workforce and 60 percent of the population aged below 35. On the occasion, he invited the international media to cover activities of the Asia-Pacific Economic Cooperation (APEC) Year hosted by Vietnam this year in Vietnam, contributing to popularising Vietnam and its people to the world.
Vietnam’s 2016 economic growth rate remained in the leading group of the world, with gross domestic product (GDP) growing over 6.21%, he said, adding that the country saw more than 110,000 newly established businesses and attracted over 22,000 foreign direct investment (FDI) projects from 100 countries with total registered capital of over US$300 billion.
In addition to enhancing the investment environment, Vietnam also maintained the macroeconomic stability, which was manifested through its inflation kept below 5%; kept the exchange rate stable and recorded high foreign currency reserves, the government leader noted.
Hailing the huge contribution of the FDI sector to Vietnam’s GDP growth (accounting for over 20% of the country’s GDP), he stated that Vietnam would continue accelerating the equitisation of State-owned enterprises (SOEs) and particularly loosen foreign ownership limits in SOEs.
Expressing his interest in the 12 pillars of global competitiveness used by the WEF to measure the competitiveness of nations, including Vietnam, PM Phuc said he wished to welcome the group of WEF experts tasked with compiling the global competitiveness report to Vietnam to strengthen the exchange of information and mutual understanding between the WEF and the country.
From now until 2020, Vietnam will practically boost economic restructuring associated with shifting the growth model and increasing the economy’s productivity, quality, efficiency and competitiveness; accelerate and improve the efficiency of international integration, including the effective implementation of new-generation free trade agreements (FTAs) to which Vietnam is a signatory; and welcome international businesses and investors to respond to and actively participate in the activities of the APEC Year 2017 in Vietnam, he emphasized.
