Addressing a workshop in Hanoi on February 17 on overseas investment, Tuan said that Vietnamese firms should also fully understand and abide by the law in the host country to ensure their effective investment.
At the same time, they should prepare themselves to deal with changes of policies in the host countries as well as cultural differences, he said.
In the last several years, Vietnam has encouraged business community to invest abroad, especially Laos and Cambodia, he noted, adding that the support of the Government has also been a significant factor contributing to success of Vietnamese firms in expanding their business abroad.
He also stressed the need for investors to share their experience and lessons.
Pham Quang Tu, a representative of Oxfam Vietnam, noted that Vietnam’s investment abroad has increased in both the number of projects and capital volume over the past years.
However, Tu cited Oxfam’s survey which showed Vietnamese firms have faced many difficulties related to policy, land, and culture when investing abroad.
He suggested that investors should consult affected community during their operation in other countries, and urged that guidance be issued regarding corporate social responsibility in various fields and stages of investment.