Socialist Republic of Vietnam

Ha Noi, Dec. 3 (VNA) -- More than 250 representatives of Vietnamese and foreign businesses, Government agencies, diplomatic corps, and international organizations gathered at a forum held in Ha Noi on Dec. 3 to seek measures to further improve investment and trade environment in Viet Nam.

The forum, the fourth of its kind organized by the Ministry of Planning and Investment, the World Bank (WB), and the International Finance Corporation (IFC), also sought ways of raising effectiveness and competitiveness of businesses through direct dialogues between Vietnamese and foreign businesses and Government agencies and foreign donors.

The Government has over the past years taken many measures to help businesses overcome difficulties and made progress in improving the investment environment, the participants noted.

On financial and banking aspects, the Government made great efforts to revise regulations on ceiling interest rates and tax rates. Meanwhile, the Ministry of Planning and Investment and relevant agencies were praised for having settled problems for businesses.

This assessment was shared by all representatives of the Government and business circle.

Business representatives proposed the Government take more measures to make Viet Nam's investment environment more competitive.

Speaking at the forum, Minister of Planning and Investment Tran Xuan Gia affirmed that improving the investment environment has been and will be the basic goal and focal point of the Government's action programme. He said that Viet Nam's business environment would be improved so that it is more stable, equal, systematic, and transparent. In addition, the legal system on business operations will be more commensurate with international law and principles.

Peter Woicke, IFC Executive Vice President and Managing Director of the World Bank Group, spoke about the global and regional economic situation and warned Viet Nam of adverse effects on its national economy as a result of the global economic decline.--VNA