Foreign businesses and investors suggested that Vietnam needs to improve the investment environment as well as fulfill commitments and build trust between the Vietnamese Government and businesses.

A new report published by the Economist Intelligence Unit (EIU) shows that Vietnam is the most dynamic country worldwide, up 12 places in the measure of attractiveness of the business environment.

The new Doing Business Report published by the Economist Intelligence Unit (EIU) measures the attractiveness of the business environment in 82 countries quarterly, using a standard analytical framework with 91 indicators.

Singapore topped the EIU’s latest ranking, while Vietnam made the most significant improvement. China’s score fell by the largest margin. The biggest improvements over the past year have been in Vietnam, Thailand, Belgium, Sweden, India and Costa Rica.

Notably, Vietnam is the most dynamic country worldwide, up 12 places in the ranking, while Thailand is up 10 places and India is up 6 places.

The assessment shows that Vietnam and Thailand have favorable policies for foreign investors. In fact, with open and transparent investment attraction policies and a favorable, stable and constantly improving business investment environment, Vietnam can be said to be one of the leading countries in the world. achieved many important achievements in attracting foreign investment. As of the end of April 2023, Vietnam has attracted nearly 446 billion USD in foreign investment. In which, about 280 billion has been disbursed.

However, the world continues to face many difficulties and challenges. Inflation has decreased, but is still high. Globally, growth is low. Economies continue to be warned to face the risk of recession and aggregate demand is also falling very quickly. The Russia-Ukraine conflict is complicated and prolonged. The financial market, public debt, natural disasters, climate change... have many potential risks.

"This context has greatly affected global investment flows, including Vietnam, plus many problems arise such as from 2024 expected to apply a global minimum tax rate of 15% ... so investment Foreign investment in Vietnam is also in the general trend of slowing down.There are signs that large corporations are more careful and thorough in considering the continued investment abroad, including Vietnam.

Specifically, in the first 4 months of 2023, foreign investment projects registered for new investment in Vietnam decreased slightly compared to the same period last year. Total foreign direct investment capital newly registered, adjusted and contributed capital to buy shares, buy capital contributions from foreign investors in the first 4 months of the year reached nearly USD 8.89 billion, equaling 82.1% compared to the same period last year. with the same period last year. Realized capital of foreign investment projects is estimated at 5.85 billion USD, down 1.2% over the same period in 2022.

In the context of many challenges, in order to enhance competitiveness, furthermore for the sustainable development of Vietnam and FDI enterprises, representatives of foreign businesses and investors proposed Vietnam. It is necessary to improve the investment environment as well as fulfill commitments and build trust between the Government of Vietnam and businesses.

For his part, the leader of the Ministry of Planning and Investment said that the current trend is that global investment flows are focusing on fields such as high technology, innovation, research and development (R&D), economics. Green, digital economy, circular economy, clean energy ... These are also the areas that Vietnam is focusing on prioritizing attracting foreign investment and giving many incentives and investment support, thereby will open up many opportunities for cooperation and development for foreign investors to invest in Vietnam in the coming time.

"Therefore, in order to promote and improve the efficiency of foreign investment cooperation, we call and encourage foreign investors to continue investing in the above-mentioned fields, giving priority to investment projects using less labor, energy, land and natural resources, bringing high added value, promoting green growth, inclusive and sustainable development of the economy. domestic enterprises, support capacity building and create conditions for Vietnamese businesses to participate more deeply in the global value chain," said Deputy Minister Do Thanh Trung.