On the afternoon of March 4, at the Government headquarters, Prime Minister Pham Minh Chinh chaired a discussion with ASEAN businesses in Vietnam.
This is the 8th meeting in the past week, the 10th meeting in nearly a month of the Prime Minister with the business community, domestic and foreign banks to promote investment, production, and business, achieving the growth target of 8% in 2025 and double digits in the coming years.
Attending the seminar were Deputy Prime Ministers Bui Thanh Son and Ho Duc Phoc; Ministers, leaders of central ministries and branches; leaders of several provinces and centrally run cities; Ambassadors, Chargé d'Affaires, Counsellors of ASEAN countries in Vietnam; and leaders of ASEAN enterprises in Vietnam.
Over the past time, the Vietnam - ASEAN relationship has been a vivid demonstration of the spirit of solidarity, mutual love, cooperation and successful regional connectivity. With trust and efforts from both sides, the relationship between Vietnam and ASEAN in general and each ASEAN country in particular continues to develop positively, becoming increasingly in-depth, effective and substantive, in which economic - trade - investment cooperation continues to be a bright spot.
Vietnam's total import-export turnover with ASEAN countries in 2024 will reach 83.6 billion USD. ASEAN is Vietnam's 4th largest export market and its 3rd largest import market. Many ASEAN countries are among the top foreign investors in Vietnam such as Singapore, Malaysia, Thailand, etc.
Of which, Singapore is the leading ASEAN country investing in Vietnam, with 3,946 projects, reaching 84.3 billion USD; Thailand has 755 projects, reaching 14.3 billion USD; Malaysia has 767 projects, reaching 12.9 billion USD. In contrast, Vietnam has 871 projects in ASEAN countries with a total capital of nearly 12.1 billion USD, respectively in Laos, Cambodia, Myanmar, Malaysia, Singapore... However, this result is still modest compared to ASEAN's potential and Vietnam's expectations, desires, and conditions.
At the seminar, representatives of ASEAN countries in Vietnam and ASEAN enterprises in Vietnam expressed their readiness to work with Vietnam to promote growth of 8% or more in 2025 and double-digit growth in the following years.
ASEAN businesses said they will continue to invest more in Vietnam in areas where Vietnam has potential and demand, especially in areas such as high technology, semiconductors, artificial intelligence (AI), aviation, energy, e-commerce, agriculture, food processing, industrial park infrastructure, urban areas, finance, logistics, etc.
ASEAN enterprises suggested that Vietnam continue to improve and have a clear legal framework and consistent implementation; continue to rationalize and transparently implement tax policies; simplify customs clearance procedures; remove technical barriers to imported goods; have an open and unified policy on granting work permits and visas; have more open policies on land use and home ownership for foreigners; simplify and shorten the time for investment approval and licensing; provide stable electricity at appropriate prices... Enterprises also reflected and proposed solutions to a number of issues in specific projects.
ASEAN businesses are recommended to implement 5 more
After the ministries, branches and Deputy Prime Ministers discussed, clarified and answered proposals, recommendations, and removed obstacles for ASEAN enterprises, concluding the discussion, Prime Minister Pham Minh Chinh thanked ASEAN countries and ASEAN enterprises for always supporting and accompanying Vietnam in the development process over the past time; especially at the discussion, there were many opinions expressing understanding, frankness, sharing vision and giving suggestions for Vietnam to continue to improve the investment and business environment better and better in the coming time.
In the spirit of openness and receptivity, the Prime Minister assigned ministries and branches to preside over and coordinate in handling and resolving enterprises' opinions "clearly defining people, tasks, responsibilities, timeframes and results" so that the relationship between ASEAN enterprises and Vietnam becomes increasingly closer and more effective.
Responding to and clarifying a number of specific issues that ASEAN businesses are interested in, concerned about, and propose, such as the purchase and sale prices of electricity projects in Vietnam; licensing procedures, investment, and foreign banking operations in Vietnam; difficulties in investing in the development of the logistics industry, e-commerce development, clean agricultural production; land policies, etc., the Prime Minister affirmed that Vietnam is making efforts to resolve them; if businesses still have problems, they will continue to coordinate with ministries, branches, and localities to resolve them in the spirit of frankness, equality, listening, sharing, "harmonized benefits, shared risks".
Analyzing the current world situation with many rapid, complex, unpredictable developments, especially trade competition, the Prime Minister said that all countries must coexist, adapt flexibly and effectively. Therefore, the Prime Minister suggested that ASEAN countries and ASEAN enterprises implement 5 more: In terms of diplomacy, be more united and united; in terms of economy, promote more connectivity, cooperate more closely and effectively; in terms of thinking, boldly innovate thinking more strongly and effectively; have more groups of solutions that meet practical requirements; in the implementation process, organize implementation more drastically, focus more, in which coordinate closely, consult more opinions between countries and enterprises.
Delighted with the good relations between Vietnam and ASEAN and Vietnam with ASEAN countries, in which economic-trade-investment cooperation continues to be a highlight, the Prime Minister said that Vietnam always considers ASEAN as a common home, a close neighbor, and at the same time identifies ASEAN as a strategic priority in foreign policy and always makes every effort with ASEAN countries to build a united and strong ASEAN Community.
However, according to the Prime Minister, the cooperation space between Vietnam and ASEAN is still large, the cooperation space is still very wide, the goals and desires for cooperation between the two sides are very large. Therefore, the two sides have made efforts and need to make greater efforts, have made efforts and need to make more efforts, have been effective then be more effective, in which ASEAN enterprises must take the lead and lead in implementing this task.
Providing information on Vietnam's socio-economic development results, Prime Minister Pham Minh Chinh affirmed that Vietnam is persistent and steadfast in its innovation and foreign policy, striving to accelerate, break through, and reach the goal, achieving a growth rate of 8% or more in 2025, creating momentum, creating momentum, and creating strength to achieve double-digit growth rates in the following years, so that by 2030 it will be a developing country with modern industry and high average income, and by 2045 it will be a developed country with high income; hoping that ASEAN countries and ASEAN enterprises will continue to accompany Vietnam in this process.
The Prime Minister affirmed that Vietnam has a responsibility to ASEAN countries and businesses to build a united ASEAN in diversity, promoting ASEAN's central role, in the spirit of "listening and understanding together; sharing vision and action together; working together, enjoying together, winning together and developing together; enjoying joy, happiness and pride together", towards a rich and prosperous ASEAN, with people increasingly well-off and happy.
According to the Prime Minister, in 2024, Vietnam's investment and business environment will continue to improve, and will be positively evaluated by the international community and investors. Many major international organizations have upgraded Vietnam's competitiveness: Credit rating at "stable", up 12 places; e-Government development index up 15 places, economic freedom index up 13 places, global innovation index up 2 places, sustainable development up 1 place, and among the top 50 countries in terms of network security index.
Prime Minister Pham Minh Chinh said that Vietnam is focusing on three strategic breakthroughs in institutions, infrastructure and human resource training to have "open institutions, smooth infrastructure, smart governance and human resources", helping businesses invest and operate effectively and sustainably.
Strive for symbolic economic cooperation projects
The Prime Minister made a number of proposals and directions for cooperation with ASEAN enterprises in general as well as specific proposals for enterprises of each ASEAN country in particular.
Regarding general proposals, the Prime Minister suggested that enterprises expand investment, production and business, further increase high-quality investment in Vietnam; promote the transfer of advanced technology, core technology, and source technology; contribute to perfecting institutions; support the training of high-quality human resources, improve governance capacity and smart management experience; and strive to have symbolic economic cooperation projects between Vietnam and ASEAN countries.
Promote economic connectivity between Vietnam and ASEAN countries, especially transport connectivity, payment connectivity, tourism connectivity; including soft connectivity (institution building, harmonization of regulations and procedures, especially customs clearance; experience sharing, building priority policies for priority areas) and hard connectivity (transport infrastructure, digital infrastructure, climate change response infrastructure, energy connectivity).
Promote the development of science and technology, innovation, entrepreneurship, especially entrepreneurship among the young generation. Pioneer in integrating within ASEAN and with the world in a positive, effective, and practical manner, with a comprehensive, global, all-people approach, promoting solidarity, multilateralism, and people-centeredness.
Regarding some specific proposals, for Singaporean enterprises (ranked 2nd in the world in investing in Vietnam), the Prime Minister proposed to actively participate with the two countries' Governments in effectively implementing the Framework Agreement on Connecting the Two Economies and the Vietnam - Singapore Green Economy - Digital Economy Relations, initially in the fields of digital transformation, circular economy, innovation, and clean energy.
Continue to expand and transform the new generation of Vietnam - Singapore Industrial Parks (VSIPs) as a symbol of successful economic cooperation between the two countries, following a smart, green, sustainable model, combining the development of industrial park ecosystems - science and technology - trade - urban areas.
Continue to consolidate Singapore's position as a leading investment partner in Vietnam, associated with improving the quality of FDI capital flows, focusing on high technology, digital economy, circular economy, clean energy, semiconductors, artificial intelligence; helping to develop an international and regional financial center.
For Thai businesses (Vietnam's leading trade partner and second largest investor in ASEAN), the Prime Minister proposed promoting the bilateral trade turnover to soon reach 25 billion USD in a more balanced direction; focusing on implementing the "Three Connectivity" Strategy, especially connecting supply chains and strategic areas such as transportation, tourism, digital economy, green economy, and energy transition.
With Malaysian enterprises (Vietnam's second largest trading partner and third largest investor in ASEAN), the Prime Minister proposed to soon bring bilateral trade turnover to 18 billion USD in a balanced direction, facilitate import and export and limit the application of trade barriers.
Continue to support training for Vietnamese localities and enterprises on Halal production and certification processes; increase imports of these items from Vietnam. Along with that, expand cooperation in high-potential areas such as digital economy, green economy, equitable energy transition, science and technology, innovation, smart agriculture, e-government, cyber security, etc.
With Indonesia (Vietnam's third largest trading partner in ASEAN), the Prime Minister proposed reducing trade barriers, including agricultural products and Halal products of Vietnam, striving to soon bring bilateral trade turnover to 20 billion USD.
Encourage and facilitate businesses of the two countries to invest in each other's markets in new areas such as digital economy, green economy, and energy transition. The Prime Minister said that Vinfast has committed to investing 1.2 billion USD to develop an electric vehicle ecosystem and electric vehicle batteries in Indonesia.
For Philippine businesses , the Prime Minister suggested striving to soon bring two-way trade turnover to 10 billion USD by limiting the application of trade barriers, facilitating the import and export of agricultural and aquatic products, fruits, vegetables, etc. Continuing to create a favorable environment for investment, especially in areas where both sides have demand and strengths such as processing technology, infrastructure, automobile support industry, renewable energy, high-tech agriculture, etc.
The Prime Minister said that Vietnam regularly exchanges cooperation with businesses from other countries in the region; at the same time, he hopes that the situation in Myanmar will soon stabilize so that he can promote and expand economic, trade and investment cooperation.
Stating that Vietnam is committed to creating a favorable, fair, transparent investment and business environment, protecting the legitimate and legal rights and interests of enterprises in accordance with international practices, ensuring political stability, social order and safety, and stable legal policies, etc., the Prime Minister also proposed listening and understanding between enterprises, the State and the people, sharing visions and actions, working together, winning together, enjoying together, developing together, sharing joy, happiness and pride.
The Prime Minister emphasized the spirit of the Government accompanying businesses, making breakthroughs together, converging strengths, creating the future, building a common ASEAN home, maintaining solidarity and unity in diversity, dynamism, creativity, development, being the focus of growth, rapid and sustainable development, ensuring progress, fairness and social security, leaving no one behind, protecting a clean, green and beautiful environment.
Source: https://baotainguyenmoitruong.vn/thu-tuong-chinh-phu-dong-hanh-cung-voi-doanh-nghiep-asean-cung-nhau-but-pha-hoi-tu-suc-manh-kien-tao-tuong-lai-387291.html
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