The event, which was hosted in Hanoi by the Ministry of Planning and Investment (MoIT), brought together officials from ministries and sectors, ambassadors, and heads of development cooperation agencies and international organisations, and representatives of associations and businesses, and foreign investors in Vietnam.

PM Pham Minh Chinh speaks at the meeting with representatives of donors and foreign-invested enterprises on January 26.

In his opening remarks, Minister of Planning and Investment Nguyen Chi Dung said despite many difficulties and challenges in 2023, Vietnam still reaped many remarkable achievements.

He expressed his belief that with Vietnam's efforts and close and effective cooperation of diplomatic agencies, development partners, international organisations, associations, businesses, and foreign investors in Vietnam, the country will gain more socio-econoic development achivements in 2024.

Representatives of international organisations, donors, and foreign investors congratulated Vietnam on overcoming "headwinds" and achieving important achievements amidst the global economic downturn.

Vietnam’s successes prove the country’s right choice and orientations on its path of development, they said, expressing their appreciation for the Vietnamese Government's cooperation, support and facilitation for their business and investment activities in the Southeast Asian nation.

Delegates applauded Vietnam's national development strategies, especially its goal of green and sustainable development, attention to social security and welfare, environment protection, and commitment to cutting emissions to net zero by 2050.

They pledged to support and accompany Vietnam in achieving its goal of becoming a developing country with a modern industry and upper middle income by 2030, and a developed nation with high-income by 2045.

Offering New Year greetings to the guests, PM Chinh said that in its national development policy, Vietnam has based on the three pillars of building socialist democracy, a law-governed socialist State, and a socialist-oriented market economy. During this process, the country doesn’t pursue pure economic growth at the expense of social progress or equality but considers people as the centre, subject, goal, momentum, and resource of development, he said.

Thanks to following this policy, despite difficulties caused by the COVID-19 pandemic and impacts of the global situation over the past years, Vietnam has still managed to secure macro-economic stability, control inflation, boost growth, and guarantee major balances. Budget overspending, public debts, Government debts, and foreign debts have stayed under control; while the country's independence, sovereignty, and territorial integrity been safeguarded; social order and safety firmly maintained; the corruption combat enhanced; defence and security ensured; and external relations remained a bright spot, he noted.

PM Chinh attributed those results to the leadership by the Communist Party of Vietnam, headed by General Secretary Nguyen Phu Trong and efforts by the entire political system, the whole people, and businesses; along with assistance from international friends, investors, and sponsors.

On behalf of Party and State leaders, the PM expressed his gratitude to international friends for their support for the country’s development, especially in 2023.

He called on them to join Vietnam in upholding solidarity and taking actions so that all people can become richer and happier, there are no more wars, and no one is left behind for the sake of prosperity for each nation and a better world, with the spirit of “harmonising interests and sharing risks” and “your victories are also Vietnam’s”.

Global minimum tax unlikely to inhibit FDI flows into Vietnam

Global minimum tax is not a big concern as multinational corporations not only consider tax incentives but also other factors and support policies when investing in Vietnam, experts assess.

A turning point in 35 years of FDI attraction

During the 35-year journey of attracting foreign direct investment (FDI), Vietnam has continuously improved institutions and preferential policies, effectively attracting and managing domestic and foreign investment resources. The expansion of economic diplomacy activities of the Party and Government in recent times has created more opportunities for Vietnam to attract high-quality capital flows into new industries.

FDI firms power Vietnam’s exports

Foreign firms contributed 259.95 billion USD or 73.1% of Vietnam’s total export revenue in 2023, statistics show.

Vietnam enjoys surge in FDI inflows in 2023

Vietnam attracted nearly 36.61 billion USD of foreign direct investment (FDI) this year to December 20, a rise of 32.1% year on year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Bac Giang continues to make a breakthrough in FDI attraction

BAC GIANG – Thanks to strong improvement in the business investment environment, Bac Giang has become an attractive destination for foreign investors. In 2023, the province ranked 4th nationwide in attracting foreign direct investment (FDI) with total registered capital reaching the highest level ever.

Source: VNA