This is the next activity after the Conference "Prime Minister meets with foreign investors" held in April 2023, affirming the consistent policies and guidelines of the Party and State of Vietnam towards the foreign investment sector; demonstrating the Government's interest and companionship with the business community and foreign investors.
Also attending were Minister of Labor, War Invalids and Social Affairs Dao Ngoc Dung; Minister of Industry and Trade Nguyen Hong Dien; leaders of central ministries and branches; representatives of 15 associations and 180 foreign-invested enterprises in Vietnam.
In a lively discussion at the Conference, 19 delegates, representatives of associations and foreign-invested enterprises in Vietnam, said that in recent times, in the face of difficulties and challenges, promoting the spirit of accompanying enterprises, the Government and ministries, branches and localities of Vietnam have created legal conditions, proactively removed bottlenecks and barriers to help enterprises invest and do business smoothly; supported enterprises to access new markets, boost exports and promote domestic consumption; promoted administrative procedure reform, improved the investment environment, shortened the time for enterprises to complete procedures; prepared necessary conditions to attract investment such as clean land, infrastructure, energy, labor, etc.
Associations and foreign-invested enterprises in Vietnam committed to working with Vietnam to promote investment and business according to Vietnam's priorities such as development based on science and technology, innovation, digital economy, circular economy, sharing economy, green development, sustainability, and climate change response. Delegates offered advice on adaptation, rapid recovery, and sustainable development; proposed solutions to seize opportunities, overcome challenges, cooperate in development, and share investment plans and expand investment in a number of fields in Vietnam.
Words of thanks from the leaders of the Vietnamese Party and State to investors
In his concluding remarks, Prime Minister Pham Minh Chinh highly appreciated the enthusiastic, profound and responsible opinions of representatives of foreign enterprises and investors; representatives of leaders of ministries, branches and localities also discussed and clarified issues of mutual concern.
The Prime Minister requested relevant ministries and branches to seriously absorb the opinions of enterprises and investors, proactively handle them immediately, have clear and specific written responses to proposals and recommendations within their authority or promptly synthesize and report to competent authorities according to regulations; assign the Government Office and relevant agencies to complete and submit the Prime Minister's conclusions after the Conference for effective implementation.
On behalf of the leaders of the Party and State of Vietnam, the Prime Minister expressed his gratitude to investors on three issues:
First, it has overcome the geographical distance to come to Vietnam.
Second, overcome difficulties and challenges, take advantage of opportunities and chances to always accompany, share, and join Vietnam in building an independent and self-reliant economy associated with proactive, active international integration, deeply, substantially, and effectively.
Third, in difficult conditions, the world and regional situation has many rapid, complex and unpredictable changes, but still commits to Vietnam and expands investment in the coming time.
The Prime Minister also emphasized that Vietnam has 3 commitments to investors:
First, always protect the legitimate rights and interests of investors in any case.
Second, always accompany businesses to overcome difficulties and challenges, seize opportunities and advantages so that foreign investors can ensure benefits and operate stably and long-term in Vietnam on the principle of harmonious benefits and shared risks.
Third, do not criminalize economic and civil relations, but handle those who do wrong and violate the law to protect those who do right, creating an environment and ecosystem for production and business that is public, transparent, equal, healthy and sustainable.
Building a healthy, stable and sustainable business investment ecosystem
Regarding investors' questions about what Vietnam will continue to do to fulfill its commitments and accompany foreign investors, leaders of ministries and sectors answered. The Prime Minister summarized and emphasized, adding some content about the fundamental factors for Vietnam's development.
Firstly, Vietnam implements three pillars: Building socialist democracy, building a socialist rule-of-law state, building a socialist-oriented market economy. Consistent viewpoint: Taking people as the center, subject, goal, driving force and resource for development; not sacrificing progress, social justice, social security, and the environment to pursue economic growth alone.
Second, consistently implement a foreign policy of independence, self-reliance, peace, friendship, cooperation and development, diversification, multilateralization, proactively and actively integrate comprehensively, deeply and effectively into the international community, be a friend, a reliable partner, and an active and responsible member of the international community.
Third, persevere in the "four no's" defense policy: (1) Do not join military alliances; (2) Do not ally with one country to fight another; (3) Do not allow foreign countries to set up military bases or use territory to fight against other countries; (4) Do not use force or threaten to use force in international relations.
Fourth, building an independent and self-reliant economy associated with active and proactive international economic integration, deep, substantial and effective; taking internal resources (including people, nature and cultural-historical traditions) as fundamental, strategic, long-term and decisive; external resources as important, breakthrough and regular. To date, Vietnam has signed 16 FTAs, including many new generation FTAs (CPTPP, EVFTA, RCEP).
Fifth, promote the implementation of three strategic breakthroughs in institutional improvement, human resource development and construction of a synchronous and modern infrastructure system, thereby reducing input costs, compliance costs, and enhancing the competitiveness of products, goods and services for businesses and investors.
Sixth, closely follow and grasp the world and regional situation to respond promptly, proactively and effectively with policies to investors.
Seventh, maintain national defense and security, ensure political stability and social order and safety so that investors can feel secure in their operations, production and business.
Eighth, Vietnam will continue to be a model of restoration and healing of war wounds, promoting the spirit of self-reliance and self-reliance for post-war development, putting the past behind and looking to the future for peace, cooperation and development. To date, Vietnam has established diplomatic relations with 192 countries, with more than 30 partners having comprehensive partnerships or higher, and strategic and comprehensive strategic partnerships with all countries that are permanent members of the United Nations Security Council.
Ninth, implement key and focused tasks such as focusing on infrastructure construction and human resource development.
The Prime Minister said that recently, in the context of difficulties and challenges, Vietnam has continued to maintain a stable macroeconomic foundation; growth has been promoted; inflation has been controlled; major balances of the economy have been ensured; budget deficits and public debt, government debt, and national foreign debt have been well controlled. These are also important fundamental factors for investors and enterprises to operate, produce, and trade.
In addition, the Prime Minister expressed his sympathy and understanding with investors about the difficulties and challenges in the context of Vietnam being a developing country, an economy in transition, with a modest economic scale but large openness, limited resilience to external shocks, and a small external fluctuation can also have a great impact on the internal situation.
The Prime Minister emphasized: The important results that Vietnam has achieved are thanks to the efforts of the entire political system, the support of the people and businesses, especially the effective support and assistance of the international community, including foreign invested enterprises.
By the end of September 2023, 144 countries and territories had invested in Vietnam with more than 38,300 valid FDI projects, total investment capital of more than 455 billion USD, creating jobs and income for millions of workers.
"Hope investors always love Vietnam as their homeland"
The Prime Minister requested ministries, sectors and localities to focus on implementing a number of key tasks and solutions in the coming time to continue creating favorable conditions and building a safe, transparent and highly competitive investment and business environment so that the business community and investors, including foreign investors, can feel secure in investing effectively, long-term and sustainably in Vietnam.
Firstly, continue to seriously and effectively implement the Party's guidelines and policies, the State's policies and laws, especially Resolution No. 41 of the Politburo on building and promoting the role of Vietnamese entrepreneurs in the new period, creating a favorable investment and business environment with the motto "Taking people and enterprises as the center, the subject, the goal, the driving force and the resource for development".
Second, continue to review, revise, supplement, and perfect foreign investment cooperation policies that are suitable to practical situations, highly competitive, internationally integrated, and consistent with the country's development orientation, planning, and requirements.
Third, continue to focus on improving the business investment environment and creating favorable conditions and reducing costs for businesses; effectively implementing solutions for debt restructuring, debt extension, interest rate exemption and reduction; extension, postponement, exemption and reduction of taxes, fees, charges, land rents, etc.
Fourth, seriously listen to the recommendations and proposals of businesses and investors, including foreign investors, with a spirit of openness, sharing, understanding and companionship; on that basis, promptly take effective measures to handle, especially practical difficulties and problems. Solve the problems where they are, do not say no, do not say difficult, do not say yes but do not do.
Fifth, promote public-private partnership, unleash and effectively use all resources for development, take public investment as the lead and activate non-state investment, including foreign investment. Develop strategic infrastructure systems associated with institutional improvement and training of high-quality human resources.
Sixth, strengthen the work of grasping the situation, especially regarding fiscal and monetary policies, and forecasting closely to reality to have appropriate, flexible and timely policy responses.
For the business community and investors, the Prime Minister suggested researching and developing a long-term, sustainable, environmentally friendly development strategy that is consistent with Vietnam's national, sectoral and regional planning. Proactively innovating production and business models, restructuring enterprises in association with development according to green economy, digital economy, circular economy, knowledge economy, and climate change response.
The Prime Minister said that these plans were developed and issued with strategic thinking, long-term vision, promoting different potentials, outstanding opportunities, and competitive advantages. These plans create the premise and development space for investors, and appropriate strategies of investors will contribute to promoting the implementation of these plans.
Along with that, well implement the business culture, regimes and policies for employees and accompany the authorities at all levels, for the benefit of enterprises, investors and contribute to the State and people of Vietnam. Increase the localization rate, develop the supply chain with the participation of Vietnamese enterprises, participate in human resource training, invest in infrastructure, contribute to the construction and improvement of institutions, innovate national governance, and modernize corporate governance.
The Prime Minister hopes that associations need to perform their functions and tasks well; promptly inform and report on problems and difficulties of members, enterprises and investors in the process of investment and business activities in Vietnam; promptly recommend and propose appropriate policies and laws.
The Prime Minister once again affirmed his hope and belief that foreign businesses and investors will continue to show affection, trust, cooperate closely, and "always love Vietnam as their homeland".
The Prime Minister suggested that all parties promote the spirit of "what has been promised must be done, what has been committed must be done, what has been done must be done with measurable results", harmonizing the interests of the State, businesses and people, all together winning, no one left behind.
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