“The Vietnamese Government always attaches importance to attracting foreign direct investment (FDI) and considers it an important resource for national development,” he emphasised. The Deputy PM reiterated that the Government will further improve the investment environment for luring more foreign investors in Vietnam and encourage local businesses to invest in other countries.

 He said he hopes the slogan “For a friendly and developed Vietnam ” will become a motto of operation of all FDI businesses in the coming time. At a conference themed “For a friendly and developed Vietnam ”, which was part of the “Vietnam Golden FDI” event, most participants shared the view that the investment and business environment in Vietnam has been improved.

Tom Chong, Deputy General Director of Ernst & Young Vietnam – the world’s leading consultancy, financial transaction, tax and auditing service provider, said Ernst & Young Vietnam has doubled the scope of its operation in Vietnam over the past three years thanks to the Vietnamese Government’s adoption of a host of practical policies and laws.

The fact that foreign investors coming to Vietnam over the past three years are all major multi-national groups shows their recognition of positive improvements in Vietnam’s investment and business environment, he said.

Jose De Dios, Director General of the AkzoNobel Vietnam Company of the Holland-based AkzoNobel Group, highly valued the Government’s deployment of stimulus packages, especially those for investment and consumption, and the State Bank of Vietnams’ prompt intervention in slashing loan interest rates and stepping up banking payment. He reckoned that those efforts have helped not only boost the Vietnamese national economy but also facilitate foreign-invested businesses in the country.

Sharing the views with Ernst & Young Vietnam and AkzoNobel Vietnam executives, Hsu Jung Chun, Director General of Jia Non-Biotech – a Chinese company specialising in agriculture, commented that “Vietnam’s investment environment is getting more and more suitable for foreign businesses”, with better managerial capacity and transparent taxation policy.

At the conference, FDI businesses also pointed to existing obstacles that are hindering business and investment activities, including underdeveloped infrastructure, a lack of high-skilled human resources and competent managers, and overlapping, complex investment licensing procedures. They urged the Government to quickly remove those obstacles to help the country sharpen its competitive edge and improve its development capacity.

However, many FDI businesses still chose Vietnam as “an attractive destination for investment” and expressed their strong belief in a future expanded operation environment in the country thanks to the Government’s due attention and policies.

Since the Law on Foreign Investment enacted in 1988, more than 10,000 FDI enterprises are operating in Vietnam with a combined capital of USD174 billion,. They have generated direct jobs for nearly 2 million people and created indirect work for millions of others. According to the Ministry of Planning and Investment, Vietnamese businesses have invested in 440 projects in 49 countries and territories at a total registered investment capital of USD6.8 billion.