Vietnam commits to creating favourable conditions for foreign investors

Update: 21:35 | 06/10/2021

As of September 20, Vietnam was home to 34,141 valid foreign-invested projects worth nearly US$403.2 billion, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment. Of the sum, $245.14 billion or 60.8% percent has been disbursed.

Although the Covid-19 pandemic has caused tremendous difficulties for the business community, including foreign-invested enterprises, they have promoted their sense of solidarity and joined hands to share in the responsibility of the Government and local authorities to support people and communities in the fight against Covid-19. They have also taken actions to adapt to the new situation, maintaining production and business activities, and creating jobs for labourers, thus contributing to socio-economic development.

Vietnam, creating favourable conditions, foreign investors, valid foreign-invested projects, Covid-19 pandemic, socio-economic development

 

Staff assemble products at a SamSung factory in Bac Ninh province.

Vietnam has established itself as an attractive investment environment for foreign investors thanks to an abundant workforce, stable socio-political situation, production infrastructure and favourable policies for investors. Vietnam will remain an attractive destination for foreign investors in the long run once the Covid-19 pandemic is brought under control.

The National Assembly and Government have been making every effort to repel the pandemic as well as removing difficulties for businesses through many resolutions and decrees on tax and fee exemptions and reductions.

The Prime Minister has also established two special working groups headed by two Deputy Prime Ministers to review and ease the difficulties for businesses and people affected by the pandemic and to promote current investment projects.

The Government and the Prime Minister have had meetings with businesses from Japan, the Republic of Korea, Europe and the United States in Vietnam to remove difficulties facing their operations and support their production and business activities.

Recently, the Ministry of Planning and Investment coordinated with the Vietnam Business Forum Alliance (VBF) and business associations to survey over 500 foreign-invested enterprises.

According to the survey results, the FDI business community has truly appreciated the Government's response to the pandemic, expressing optimism about Vietnam's economic recovery, and committing to continuing to invest and do long-term business in Vietnam.

67% of European companies have a positive assessment of the prospect of Vietnam's business environment. Japanese businesses expressed optimism about the possibility of the early recovery of the Vietnamese economy in 2021, with 47% planning to expand their production and business in Vietnam.

Korean enterprises all had new investment plans in Vietnam while most American businesses appreciated the Vietnamese Government's efforts in response to the pandemic, and they believing that Vietnam would soon control it fully.

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Source: NDO

 
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