Vietnam - Deputy PM invites foreign firms to invest in VN

HA NOI – Viet Nam welcomes the participation of foreign enterprises in the country's reform agenda, said Deputy Prime Minister Hoang Trung Hai.

Hai was speaking at the international Viet Nam Summit: A New Path into a New World, held by the Ministry of Foreign Affairs and the Economist Conferences today in Ha Noi.

Hai said foreign investment would help to reduce the trade deficit.

"When joining the Viet Nam market, all enterprises are seen as a part of the Vietnamese economy. We are willing to create the most favourable conditions for investors," Hai said.

The Deputy Prime Minister pointed out that investing in Viet Nam opened the doors to a market of 90 million people, and potentially a further 600 million consumers in the ASEAN region.

"I know that all of you have gone through a hard time, but I believe when you come to Viet Nam you will get more investment opportunities," Hai said.

Hai said the Government's planned reform agenda would focus on stabilising the macroeconomy.

"Growth targets are not a top priority, but we still have to pay attention to growth since it affects employment," Hai said. "Stabilising the macroeconomy will help enterprises plan for the future."

The Deputy Prime Minister pointed out that the number of State-owned enterprises (SOEs) being restructured had decreased from 12,000 to 6,000.

"SOEs themselves want to be as competitive as possible," Hai said.

Hai also pledged to fight corruption and reform the legal framework to create a more competitive environment.

He added that the Government was working on creating an independent central bank.

Attending the summit were about 250 senior executives from members of the Government, domestic and regional businesses and academics.

VNS

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