Vietnam wants to improve investment climate

VietNamNet Bridge - Vietnam is eager to hear ideas on ways to boost its investment environment, Deputy Prime Minister Hoang Trung Hai said at the World Economic Forum (WEF) on East Asia on June 19.

The Deputy PM was hosting a working session with the theme of “Vietnam’s Economy”, co-chaired by Sushant P Rao, head of the WEF’s East Asia region.

Hai said he highly appreciated the role of foreign investors in the development of Vietnam and was confident that the country would remain a favourite destination for investors.

Vietnam’s sustainable economic growth in the mid-to long-term, its stable political and social environment, abundant potential sources of labour and nearly untapped local market have been Vietnam’s strong points, Hai said.

The Deputy PM said Vietnam was on its way to integrating into the world economy and was fully aware that it was not immune to the global economic crisis. Strong and effective measures by the Government to boost investment and consumption had seen visible results.

He told the meeting about Vietnam’s economic strategies in the long run, especially in infrastructure development, exports, food security and preparations for climate change.

Yesterday afternoon Hai visited Samsung Electronics headquarters in Seoul. He reiterated the Vietnamese Government’s consistent policy on providing foreign investors with favourable conditions to expand hi-tech and high value added industries in Vietnam.

The Deputy PM also attended a business meeting for major Vietnamese enterprises and their foreign partners to discuss opportunities for business co-operation and share information and experience about engaging in WEF activities.

On this occasion, Hai also met Vice President of the RoK’s Kumho Asiana group, which has expressed interest in doing business in Vietnam.

Hanoi grants licenses for 120 FDI projects In the first half of this year, Hanoi granted licenses to 120 foreign direct investment (FDI) projects, including 110 new ones capitalised at US$500 million and 10 additional capital projects worth US$12 million, according to the municipal Department of Statistics. New projects include the Vietnam Satellite and Digital Television Ltd Company (a joint venture between the Vietnam Cable TV Technology Centre and France) worth US$54 million, and a wastewater treatment plant by the Gamuda Land Group from Malaysia capitalised at US$382 million. However, the number of FDI projects and registered capital fell compared to last year due to impact of the global financial crisis. In the review period, total social investment capital reached VND48,507 billion, up 14.2 percent over the same period last year, of which domestic capital increased by 16.87 percent and foreign capital fell by 8.37 percent. The city also granted business licenses to 9,350 enterprises (up 45 percent over the same period last year) with a combined capital of VND53,896 billion (down 34 percent.)

VietNamNet/VNS, VOV