Vietnam Affirms Efforts in Business Environment Improvement

Deputy Prime Minister Pham Gia Khiem on June 5 affirmed the Vietnamese Government's great efforts in improvement of its business environment for domestic and foreign investors.

"Vietnam's quick perfection of its legal systems, particularly the drawing up of new laws such as the Law on Investment, the Law on Enterprise, the Law on Securities and the Law on Real Estate, has manifested the Government's great determination to create a transparent and attractive legal environment for investors," the Deputy PM said at the Vietnam Business Forum in Hanoi.

While citing a new wave of investment in Vietnam over recent months, including Intel's investment, a visit to Vietnam by Microsoft Chairman Bill Gates, and new projects from the Republic of Korea and Japan, Deputy PM Khiem also stressed that the Vietnamese Government is well aware of the importance of improvement of the investment environment to efficiently mobilise all capital sources for development.

During the forum, held by the Vietnamese Ministry of Planning and Investment, the World Bank and the International Financial Corporation, representatives from Government bodies and domestic and foreign entrepreneurs' associations discussed measures to further improve the business environment in Vietnam.

They focused their discussions on solutions to increase the private sector's participation in infrastructure construction, particularly electricity and port systems; the labour market; tax policies; and subsidies issue when a country enters the World Trade Organisation. They also gave opinions on a decree on the enforcement of the Law on Investment.

Representatives from domestic and foreign entrepreneurs' associations and those from the Government agencies also conducted a direct dialogue on solutions to sharpen the Vietnamese business environment's competitive edge.

The forum is an annual event held prior to the Mid-term Meeting of the Consultative Group of donors to create an opportunity for straight-forward dialogue between investors and the Government, with the aim of resolving entrepreneurs' problems and offering them an optimal business environment.

Issues arising at the forum will be furthered discussed at the Mid-term Meeting of Consultative Group, scheduled for June 9-10 in the central coastal city of Nha Trang.

Source: VNA