Việt Nam to seize opportunities and cooperation with foreign investors

September 18, 2022 - 11:27
Prime Minister Phạm Minh Chính chaired the Prime Minister's Conference with foreign investment enterprises with the theme 'Overcome challenges, seize opportunities, cooperate for development'.


Prime Minister Phạm Minh Chính chairs the Prime Minister's Conference with foreign investment enterprises in Hà Nội. — Photo. baochinhphu

HÀ NỘI — Prime Minister Phạm Minh Chính chaired the Prime Minister's Conference with foreign investment enterprises with the theme 'Overcome challenges, seize opportunities, cooperate for development on Saturday'.

Chính emphasised that Việt Nam is building an independent and self-reliant economy, relying on internal resources, but external factors cannot be ignored. Internal resources are reasonably and harmoniously combined with external forces, which are capital, technology, management, and human resources, contributing to the improvement of institutions. Internal force is still basic, strategic, long-term, and decisive; external forces are important and breakthrough.

In the current context, the recent crises in the world show that it is necessary to build an independent and self-reliant economy, able to withstand external influences, he said.

He mentioned that the COVID-19 pandemic and the Russia-Ukraine conflict have affected all aspects of the world and Việt Nam, especially the increase in input prices, inflation, and difficulties in raw materials.

However, Chính said Việt Nam maintains the mindset of seeking stability in the midst of uncertainty, controlling risks in the market economy during the crisis, and building a line of cooperation in international economic competition on an equal footing in the context of extensive international integration.

The Prime Minister highlighted that over the past eight months, Việt Nam has achieved positive socio-economic results thanks to the wise and correct leadership of the Communist Party, the people, the business community as well as foreign investment enterprises. 

He said that the world situation is still complicated, unstable and unpredictable, major countries have changed major policies such as fiscal policy, epidemic prevention and control while Việt Nam has consistently stabilised the macro economy, controlled inflation, promoted growth, and ensured great balances.

In the difficult context, Việt Nam appreciated the help of foreign-invested enterprises as one of the important components of the economy and created favorable conditions for foreign-invested enterprises to do business successfully.

During the past few decades, the international community and foreign-invested enterprises have always accompanied and supported Việt Nam in the process of national construction and development, he said.

Chinh believed the cooperation process would strengthen mutual affection and understanding in the spirit of responsibility, "harmonious benefits, shared risks" and "win-win".

Minister of Planning and Investment Nguyễn Chí Dũng said the conference showed the attention, respect and trust of the head of the Government with foreign-invested enterprises. 

Dũng sai Việt Nam gives priority to attracting investment in high technology, innovation, research and development projects, adding there was a spillover, commitment to cooperation and creating favourable conditions for Vietnamese enterprises to participate in the value chain; promoting the digital economy and actively contributing to the sustainable development of Việt Nam's socio-economic.

Dũng said to welcome the enterprises, localities need to accompany and join businesses to build a favourable investment environment, shorten the time to carry out administrative procedures, and solve difficulties to ensure business operations are effective, creating conditions for new businesses to quickly enter the market.

Việt Nam will connect new partners, expand markets to overcome supply chain disruptions; partner diversification, and reduce input costs for businesses. The country will identify a number of areas capable of accelerating economic restructuring, developing supporting industries, and supplementing the segments that it cannot meet in the supply chain to prioritise attraction. At the same time, Dũng said the country will promote cooperation and link domestic enterprises to participate in global value chains and supply chains.

In the long term, said Dũng, Việt Nam will continue to improve the business investment environment, reform administrative procedures, strengthen the internal capacity of domestic enterprises, focusing on developing supporting industries in the direction of concentration, in a number of specific industries and occupations, thereby promoting connections with foreign enterprises to join the global supply chain and increase the value of domestic production.

Dũng also said Việt Nam will support and promote research and development activities, innovation, application of advanced technologies, encourage entrepreneurship to improve national competitiveness, proactively integrate internationally, and catch up with new business and market trends.

He added it will also adjust investment promotion activities in the direction of unity, showing inter-sectoral, inter-regional nature, associated with markets, investment partners and specific projects, multilateralise and diversify investment promotion forms through influential channels to influence investment decision-makers to approach exchange and invite investment in Việt Nam.

The minister said Việt Nam will apply digital platforms in promoting the local investment environment, formulating a balanced and reasonable foreign investment attraction policy among regions, ensuring the attraction and cooperation of foreign investment in accordance with the orientation, planning, development requirements and the goal of improving Việt Nam's position in the global production chain. — VNS