Vietnam is a promising destination for sustainable and quality investments.

On the morning of October 27, within the framework of the OECD Southeast Asia Program 2023, the Vietnam-OECD Investment Forum took place in Hanoi with more than 150 delegates attending.

The Vietnam-OECD Investment Forum is one of the events held within the framework of the OECD Southeast Asia Program (SEARP) in 2023, co-chaired by Vietnam and Australia. (Photo: Tuan Viet)

The Forum was attended by Minister of Planning and Investment Nguyen Chi Dung, OECD Secretary General Mathias Cormann, Deputy Minister of Foreign Affairs Nguyen Minh Hang, along with Ambassadors, leaders of ministries and sectors from OECD member countries and Southeast Asia, international organizations, experts and a large number of representatives of the domestic and foreign business community attending in person and online.

The forum discussed many important topics for Vietnam and the Southeast Asian region in attracting high-quality and sustainable investment, new trends, regulations and standards of global investment. The forum also introduced the OECD Declaration on International Investment and Multinational Enterprises, measures to attract sustainable and quality investment, improve the business environment, promote public-private partnership, mobilize private investment in green transformation and sustainable development.

Speaking at the opening of the Forum, Minister of Planning and Investment Nguyen Chi Dung highly appreciated the significance of the Vietnam-OECD Investment Forum in creating opportunities for the government, businesses and economic experts to exchange and propose solutions and policies to attract high-quality investment, aiming at prosperous and sustainable development. (Photo: Tuan Viet)

The Minister of Planning and Investment emphasized that with the policy of selectively attracting foreign investment, taking quality, efficiency, technology and environmental protection as the main evaluation criteria, Vietnam prioritizes attracting investment projects in industries and fields such as green economy, digital economy, circular economy, semiconductor manufacturing, new energy (such as hydrogen), renewable energy, etc.

The Minister hopes that OECD and foreign partners will continue to cooperate, support and accompany Vietnam in consulting, proposing new investment policies and ideas, transferring modern solutions and technologies, new economic models, attracting investment capital, supporting development from investment funds, financial institutions and especially multinational corporations.

OECD Secretary General Mathias Cormann speaks at the Vietnam-OECD Investment Forum 2023. (Photo: Tuan Viet)

OECD Secretary General Mathias Cormann expressed his impression of Vietnam's economic growth, as an ASEAN country that recovered quickly after the Covid-19 pandemic.

He said that in the context of declining global investment, Vietnam is still among the countries with large investment attraction, ranking 3rd in Southeast Asia in the period 2013-2022.

The Secretary-General emphasized that the OECD is committed to supporting Vietnam in achieving its goal of building a green, sustainable and efficient economy through the effective implementation of the Action Plan to implement the Vietnam-OECD Memorandum of Understanding for the 2022-2026 period, specifically through three key areas: supporting the improvement of the investment environment and enhancing the competitiveness of the economy; implementing reforms to attract high-quality investment; and supporting Vietnam in implementing the global minimum tax.

The first discussion session at the Vietnam-OECD Investment Forum 2023 with the theme: 'Attracting sustainable and quality investment in Vietnam'. (Photo: Tuan Viet)

At the discussion sessions, speakers commented that Vietnam continues to be an attractive destination for long-term investment and business in the region, especially with potential in the fields of high technology, financial technology, and new energy technology.

To continue attracting sustainable and quality investment, Vietnam and Southeast Asian countries need to maintain favorable conditions for technology development, innovation, digitalization, and green economic development. In addition, it is necessary to attract quality FDI, including encouraging investment sources that serve sustainable development goals.

Deputy Minister of Foreign Affairs Nguyen Minh Hang delivered a closing speech at the Forum. (Photo: Tuan Viet)

In her concluding remarks, Deputy Minister Nguyen Minh Hang emphasized that the changing global investment environment brings many opportunities and challenges to Southeast Asian countries, requiring governments and businesses to continuously update standards, regulations and investment trends in order to make timely policy adjustments to take advantage of opportunities as well as limit risks from these changes.

The Deputy Minister said that in the context of many difficulties and challenges in the world, Vietnam's economy with macroeconomic stability, maintained growth momentum and dynamic connectivity network will be a promising destination for sustainable and quality investments, green capital, green technology from partners and investors; expressed the desire to continue receiving support from OECD member countries through partnerships, experience sharing, capacity building, promoting cooperation in priority areas such as digital economy, AI, energy transition, carbon market development, etc.

Scene of the OECD event “Expanding Broadband Connectivity in Southeast Asia” held in Hanoi. (Photo: Tuan Viet)

On the same day, the event to introduce the OECD report “Expanding Broadband Connectivity in Southeast Asia” took place with the participation of the OECD Secretary General, senior representatives of telecommunications agencies in Southeast Asia and OECD.

The report highlights the strong growth of broadband connectivity in the region, especially mobile telecommunications with 769 million users by 2022, a tenfold increase since 2010, but there are still many differences between countries in the region and the development gap between urban and rural areas.

OECD Secretary-General Mathias Cormann affirmed that the OECD will continue to support Southeast Asian countries in promoting high-quality broadband connectivity, creating momentum for digital economic development, enhancing trade and building an important foundation to attract high-quality foreign investment and sustainable growth.

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