PM affirms sustained efforts to improve investment environment

by VOV09 December 2016 Last updated at 16:01 PM

The Vietnam government is making every effort to improve business and investment environment to welcome all ASEAN and international enterprises, said Prime Minister Nguyen Xuan Phuc at the 3rd Bloomberg ASEAN Business Summit in Hanoi on December 8.

In his address, PM Phuc said Vietnam and ASEAN are joining efforts to further strengthen and deepen the intra-bloc cooperation, adding that central role of ASEAN in the region, especially in economic, trade and investment cooperation have received support of international business communities, including global leading groups.

The ASEAN Business Community is the momentum for the stronger economic linkage, providing a new impetus for trade and investment development within the bloc.

Since joining ASEAN in 1995, Vietnam has always been a responsible member and has actively participated in the process of building ASEAN into a united and strong regional bloc. The country has engaged in many trade agreements of high standards and partnered with 55 nations in the world.

Vietnam has attracted 22,000 foreign direct investment (FDI) projects totally capitalized at US$300 billion. At present, it has 600,000 businesses and is targeting more than 1 million by 2020, the cabinet leader said.

The world and ASEAN region are facing with great challenges in security, economy, food, monetary, climate change, and protectionism. However, the 4th industrial revolution brought great opportunities to development, he said. He urged for closer cooperation in economic and transport infrastructure development, thus facilitating cross-border trade and investment.

PM Phuc also underlined the need for ASEAN member nations need to promote renovation and creativeness, improve their competiveness, and engage more in the global supply in order to achieve higher added values.

He said he hopes outside investors will seek win-win cooperation opportunities with ASEAN partners, adding that the Vietnamese Government is working hard to improve investment and business environment, and welcomes all enterprises from ASEAN and other regions to the country.

This is the first event of this kind that brought together ASEAN leaders working in trade and finance, and representatives of government agencies from the regional nations. It focused on measures to overcome challenges and define important opportunities for growth, cooperation and development in the region.

The focus of the summit was also on the assessment of the policies of the ASEAN Economic Community (AEC), regional policies, the next stage of development of Vietnam and ASEAN, trade and cross-border investment in the region. In particular, detailed discussions concentrated on the growth- related issues such as consumer goods, infrastructure development, commodities and energy, banking and finance, communications, and technology.

The regional grouping consisting of Vietnam, Thailand, Singapore, the Philippines, Myanmar, Malaysia, Laos, Indonesia, Cambodia and Brunei, forms a consumption market of 600 million people and a GDP of nearly US$3 trillion a year.

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