Mr. David Whitehead - Vice President of the Australian Chamber of Commerce in Vietnam (AusCham) and member of the Board of Directors of the Vietnam Business Forum (VBF): There needs to be overall adjustments to licensing processes and procedures.

Mr. David Whitehead - Vice President of the Australian Chamber of Commerce in Vietnam (AusCham)

To create a favorable business environment, we need to make overall adjustments to licensing processes and procedures, ensuring clear regulations on land use, tax incentives and work permit issuance as well as strategies remove unnecessary procedures and regulations on business conditions. This will help attract large-scale FDI investment into Vietnam, especially in new industries such as semiconductor and chip industries.

Understanding the role of sustainable development as one of the important tools to support the implementation of the Government’s plans to achieve net zero carbon emissions, VBF is conducting a survey of the VBF business community to identify the concerns and needs of businesses to effectively implement initiatives in Vietnam. We hope that the information and data obtained from this survey will help the Vietnamese Government make appropriate decisions, effectively manage, encourage sustainable activities and attract the participation of stakeholders. stakeholders to realize the goal of achieving net zero by 2050 and moving towards sustainable development.

Mr. John Rockhold - Chairman of the American Chamber of Commerce in Vietnam (AmCham): Simplify regulations on renewable energy to increase investor accessibility

Mr. John Rockhold - Chairman of the American Chamber of Commerce in Vietnam (AmCham)

One aspect that all businesses and future investors are concerned about is energy supply reliability and access to renewable energy. The relationship between electricity supply and demand is quite complex and the Government needs to have an appropriate approach, ensuring public-private cooperation to develop a sustainable, reliable, and affordable electricity supply.

Regulations need to be developed specifically and stably and the Government should focus on feasible projects that can mobilize capital to ensure electricity supply to meet growing domestic demand. The business community wants the Government to simplify the renewable energy regulatory system while new investors will research the possibility of accessing reliable renewable energy sources before investing in Vietnam. We are pleased that the Government issued specific regulations on rooftop solar last week.

For Vietnam to meet increasing electricity demand and realize commitments at the COP26 conference, important solutions that need to be implemented include developing the power grid, implementing payable power purchase contracts, shorten project approval procedures and strengthen the financial position of national power companies.

Mr. Ng Boon Teck - Representative of the Singapore Business Association in Vietnam: Desire to build logistics "highways"

Mr. Ng Boon Teck - Representative of the Singapore Business Association in Vietnam

Singaporean businesses have many ambitions and expectations to build a logistics system as simple and modern as possible, connecting road, information and economic infrastructure. We want to bring new, smart technology and share how to optimize advanced technologies to further strengthen the logistics industry.

I also want to share 3 specific areas that authorities can deploy. First, promote more trade flow, cooperation and support with neighboring countries. Second, affirm its central role, transit, and promote traffic between border provinces and between China and ASEAN. Third, we need to look more closely and more clearly at the process of implementing the single-window mechanism, so that the customs clearance process becomes simpler.

Finally, in terms of sustainable development, we want to build logistics "highways" and strengthen supply chains. It is necessary to think about whether all processes are environmentally friendly or not? I would like to propose focusing on financial mechanisms, tax mechanisms, research on establishing electricity connection points,... how to make the environment "greener".

Mr. Gaur Dattatreya - Managing Director of Bosch Global Software Technologies Co., Ltd.: Human resources and a stable, transparent and favorable legal environment are two important factors.

Mr. Gaur Dattatreya - Managing Director of Bosch Global Software Technologies Co., Ltd

I would like to raise two main points that I believe are extremely important for the sustainable development of Vietnam, as well as the success of the business community and foreign investors.

First is the importance of human resource development.

We sincerely recommend that the Government consider and have a specific plan to develop human resources of key high-tech industries, starting with encouraging the development of ecosystems connecting businesses in the industry. countries, foreign investors, vocational education institutions, and universities, thereby creating conditions for Vietnamese human resources to access and equip practical knowledge and skills to stay ahead of the wave. foreign investment in key industries.

Second is the need to build, maintain and ensure a stable, transparent and favorable business legal environment.

The constant change to improve policies and management mechanisms in Vietnam, combined with overlapping responsibilities and authorities of authorities, can unfortunately lead to a lack of transparency. and consistency in government policies and decisions. This can be seen in many different areas such as investment incentives, import regulations, licensing, with inevitable negative consequences for the business community.

As a long-time investor and partner in Vietnam, Bosch is eager to cooperate with the Government to clarify and thoroughly resolve those issues.

Mr. Bruno Jaspert - Chairman of the Board of Directors and General Director of DEEPC Industrial Park Complex: Encourage eco-industrial parks to meet sustainable standards

Mr. Bruno Jaspert - Chairman of the Board of Directors and General Director of DEEPC Industrial Park Complex

Currently, we cannot resell treated wastewater due to the lack of necessary legal framework, so we are forced to discharge treated wastewater into the nearest sea or river. The fact that the regulations are half-baked and there are not enough instructions for local agencies makes foreign-invested enterprises not fully understand Vietnam’s current position in sustainable development.

Many foreign-invested enterprises apply new non-financial reporting standards based on ESG criteria. Those principles will have a major influence on the future of business. Will this be an opportunity for Vietnam to incorporate these principles in the early stages of a non-financial reporting system? Yes, this may affect new investors, but it will help Vietnam become a pioneer in sustainable development - a trend-setter. And as we all know, countries that set trends will attract more investment.

I would like to suggest that the Prime Minister and the Government of Vietnam consider introducing policies to encourage Eco-Industrial Parks by applying longer-term land lease periods for industrial parks that meet those standards. And at the same time combine this policy with the application of special taxes on areas that cannot or do not want to comply and use this revenue to build a sustainable future development fund.

I respectfully request the Prime Minister and the Ministry of Planning and Investment to consider measures to encourage investors to meet new sustainable development standards and unify non-financial reporting standards.

In my opinion, there needs to be a strategy that allows industrial parks and foreign-invested investors to become engines of change towards this goal. Let me give you an example. Currently, Vietnam is facing a lack of backfilling materials. I come from Europe where economic development relies on large dike systems instead of improving ground level. We allow in the design of the road to become a drainage system instead of designing to raise the road level. There is no reason why Vietnam cannot do this, or even more. Such designs can be included in the national climate change adaptation plan by increasing the elevation of the dyke system and it will be more cost-effective to design the ground elevation at a low level. We are willing to test this option and also use dredged material or non-toxic waste material as backfill material. The current reality is that the legal system is not clear, so many things have not been implemented yet.

Ms. To Thi Huong Giang - Director of External Affairs for Vietnam, Thailand, Cambodia, Nike Group: Hope the Government invests heavily in technical training, technology, and management

Ms. To Thi Huong Giang - Director of External Affairs for Vietnam, Thailand, Cambodia, Nike Group

To continue to grow business in Vietnam, we have some suggestions as follows:

First, Vietnam continues to prioritize sustainable development as top priority. We are very happy that recently the Government continues to promote the direct electricity trading program with customers, in the near future we will have access and believe that this is not only good for the planet, good for the economy. economy and create new impetus for goods produced in Vietnam.

Second, when the economy has many changes, the way products are produced is also constantly changing, specifically partners are constantly innovating in technology and investment. Therefore, we hope the Government invests heavily in training in the fields of engineering, technology, management...

Third, Vietnam is currently at the forefront of global trade. We hope that with today’s position, Vietnam will continue to promote its negotiation experience to promote exports of Vietnamese goods.

Mr. Minh Do - National Director of Warburg Pincus Investment Fund: Consider solving the problem of capital mobilization for banks

Mr. Minh Do - National Director of Warburg Pincus Investment Fund

We believe that the key to creating Vietnam’s success will be to continue to maintain and improve mechanisms, institutions and policies to contribute to the development, prosperity and comprehensive financial system of Vietnam. Vietnam. However, changing the Law may take 3-5 years.

Therefore, it is extremely important for the Prime Minister, the Government and ministries and branches to make appropriate and timely decisions to respond to the world situation and unpredictable changes in the market situation. urgent.

For example, the Government could consider solving the problem of capital mobilization for Vietnamese banks to maintain credit growth at the necessary level by increasing the foreign ownership limit. Or consider supporting in solving problems related to investment procedures for typical projects such as the Metropole Hanoi hotel or the Ho Tram Grand integrated project so that we can quickly deploy investment and upgrade. Project scope.

Ms. Lai Minh Thuy - Director of Financial and Commercial Solutions Division, Citibank: Completing the Law on Credit Institutions

Ms. Lai Minh Thuy - Director of Financial and Commercial Solutions Division, Citibank

Regarding the banking sector, the Draft Law on Credit Institutions plays an extremely important role not only in the operation of the banking system but also in the economic growth and development of Vietnam in the coming years. years to come. We realize that foreign-invested enterprises need to have easy and effective access to bank loans in Vietnam to promote production and create a favorable business environment. We very much hope that the Government and the State Bank will consider the comments of the banking working group so that the upcoming Draft Law on Credit Institutions will ensure both effective and centralized credit risk management. Promote long-term investment activities of foreign investors in Vietnam.

Regarding the capital market, upgrading the credit rating to investment level and upgrading the stock market to an emerging market (from a frontier market) will bring more international capital into Vietnam. This helps investors have a more positive view of the economy and attracts more direct investment and trade, leading to faster economic growth. We expect that, with determination and efforts to upgrade the market, the Government will actively resolve existing problems so that Vietnam can soon be upgraded to an emerging market.

Vietnam plays an increasingly important role in the global supply chain, so it is necessary to develop current regulations on financing suppliers and distributors towards global standards so that banks can Loans can be made to suppliers and distributors through a simpler process, minimizing documentation requirements.

As America’s global corporate and investment bank, we look forward to working with the Government to address immediate challenges and develop an enabling environment that attracts investment and promotes economic growth. sustainable growth in Vietnam. A key element of a favorable investment climate is a regulatory environment that is fair, transparent, predictable and values ​​innovation - not only to attract new investment but also to retain and increase Investment leaders have been present in Vietnam during the past time.

Mr. Nakajima Takeo - Chief Representative of the Japan External Trade Organization (JETRO) in Hanoi: Vietnam needs to focus on manufacturing and innovation

Mr. Nakajima Takeo - Chief Representative of the Japan External Trade Organization (JETRO) in Hanoi

According to JETRO’s survey, Vietnam is an attractive destination for global FDI. Vietnam is Japan’s second largest FDI destination for 6 consecutive years. These are very positive signs.

Many economists predict that the economic year 2024 will continue to decline, however, I personally think that Vietnam will continue to grow strongly in the future.

In my opinion, Vietnam needs to focus on manufacturing and innovation to be more prosperous and deal with some difficult situations. The information technology industry will also become the new "train" leading the development of the Vietnamese economy. JETRO looks forward to cooperating more closely with the Ministry of Planning and Investment and the Ministry of Industry and Trade of Vietnam. We need stronger changes in education, health care, finance, cutting legal barriers to create a stronger and more favorable framework for investors. This is not an easy task for any country, but I believe Vietnam will become one of the most attractive countries in the digital space.

Mr. Phung Viet Thang - Representative of Intel Vietnam: Need to invest in human resources in the semiconductor industry

Mr. Phung Viet Thang - Representative of Intel Vietnam

Recently, Intel Vietnam has been considered the most successful facility of Intel globally. To achieve that result, accompanying Intel is the support of the Vietnamese Government as well as the support of ministries and branches.

There are a number of major issues that businesses need support from the Government, ministries and branches. The first is the human resources of the semiconductor industry. This human resource problem does not only lie in the capacity of engineers and workers, but also requires a policy related to early supply training for the semiconductor industry. To do this, I think it needs a lot of determination from ministries and branches.

Regarding the global minimum tax, this is not just a problem for businesses or the Ministry of Finance but also needs the support of many other ministries and branches. Therefore, the Government’s specific actions are not only motivation and lessons for Intel but also for other businesses that can learn, consult and help us make important decisions.