The conference, which brought together representatives from 15 associations and 180 FDI firms, follows the PM’s meeting with foreign investors, held in April.

PM Pham Minh Chinh speaks at the conference.

It was reported at the conference that in the first nine months of this year, Vietnam showed strong socio-economic performance, with a growth rate of 4.24%, and an average consumer price index rising 3.16%. State budget collection reached 75.5% of the yearly estimate, while the exemption, reduction, and extension of taxes, fees, charges, and land rent, worth 152.5 trillion VND, was implemented.

In the January-September period, Vietnam’s exports rose 4.6% and imports increased 2.65% year on year, with a trade surplus of 21.68 billion USD. During the period, Vietnam drew 20.21 billion USD of FDI, up 7.7% year on year, while 15.91 billion USD of FDI capital was disbursed, representing a rise of 2.2%. As of the end of September, 144 countries and territories had invested in Vietnam, with more than 38.3 trillion projects, worth over 455 billion USD, generating jobs for millions of labourers.

Speaking at the conference, PM Chinh emphasised that Vietnam will continue to build a safe, transparent and highly competitive business and investment environment, enabling businesses and investors, including foreign ones, to operate for the long term throughout the country.

He also highly valued foreign businesses’ selection of Vietnam as their investment destination and their contributions to the country’s socio-economic development.

The Government leader affirmed that the Party and State of Vietnam define the foreign-invested sector as an important component of the Vietnamese economy and provide optimal conditions for the sector to develop in a long-term manner, cooperate and healthily compete with other economic sectors.

PM Chinh asked ministries, sectors and localities to continue effectively implementing policies and laws, regarding the improvement of investment and business environment, while reviewing, adjusting and supplementing foreign cooperation policies to suit the reality, and listening to the ideas of businesses and investors, including foreign ones, to settle all arising problems.

The PM proposed that the business community continue to build long-term, sustainable and environmentally friendly business strategies, reforming their production and business models towards a green economy, digital economy, circular economy, knowledge economy, and climate change response.

At the conference, FDI firms pledged to continue accompanying Vietnam in promoting business and investment in line with the country’s priorities, such as science-technology, innovation, digital economy, circular economy, sharing economy, green and sustainable growth, and climate change response.

They also proposed solutions to rapid recovery and sustainability and shared their plans for investment and expansion in Vietnam.

Experience in attracting FDI

BAC GIANG - Thanks to strongly improving the business investment environment, Bac Giang province has gained positive results in attracting foreign direct investment (FDI). The province has an attractive investment environment.

Vietnam attracts over 18.1 billion USD in FDI in eight months

Vietnam lured over 18.1 billion USD in foreign direct investment (FDI) as of August 20, an increase of 8.2% year-on-year, reported the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

Vietnam expects stronger FDI inflows with large-scale projects

Foreign direct investment (FDI) inflows into Vietnam have gradually recovered with many large-scale investment projects following the Covid-19 pandemic as well as political and economic uncertainties in the world.

Vietnam still 'an FDI darling': Singaporean bank

Vietnam’s 2023 growth is below-trend amid global external headwinds, but its position as a manufacturing FDI darling remains intact, DBS, Singapore’s leading consumer bank, said in a report released on July 3.

Vietnam attracts over 13.4 billion USD in FDI in H1

Total registered foreign direct investment (FDI) in Vietnam surpassed 13.43 billion USD in the first half of this year, according to the Ministry of Planning and Investment.

Source: NDO