By applying a one-stop shop mechanism, the southern
At a recent press briefing prior to the Consultative Group (CG) Meeting for
Mr Ajay emphasized that the levels of FDI are lowing compared to the total social investment capital while the levels of investment capital from private businesses are dramatically increasing. This indicated that the Vietnamese economy is gradually reducing its dependence on foreign capital sources, showing optimism among private businesses and encouraging foreign investors to do business in
President of the Federation of French Businesses in Vietnam Frederic Sanchez said the private economic sector in
At the Vietnam Business Forum on December 4, Country Director of the International Finance Corporation (IFC) in Vietnam Sin Foong Wong announced the results of a survey on business environment in 2007. Most entrepreneurs expressed their optimism about investment prospects in
Vietnam
The United Nations Conference on Trade and Development (UNCTAD) recently released the results of a survey showing that
Big obstacles
Ajay Chhhibber pointed out three main obstacles needed to be overcome. The Government and businesses must find measures to develop infrastructure, especially transport and electric systems. In addition, the Government should further accelerate administrative reform to eliminate bureaucracy in state-owned agencies and pay more attention to training a highly-skilled labour force, Mr Chhibber said.
Sharing the same view, Alain Cany, chairman of the European Chamber of Commerce (EuroCham) praised the Vietnamese Government’s decision to remove the 3 percent limitation on the recruitment of foreign workers. He said the decision will help meet the demand for a highly skilled work force.
Mr Cany said education reform is an essential task that would make
In a report released at a recent Vietnam Business Forum, Sin Foong Wong cited infrastructure, intellectual property protection, efficiency of administrative services, the tax system and management of taxes, highly skilled labour and the legal environment as issues of concern to the businesses community.
However, Mr Sin pointed out the difference between domestic and foreign businesses. He said that while domestic businesses are paying more attention to removing unnecessary licences and controlling corruption, foreign businesses are more concerned about improving the drafting and implementation of laws.
Determination and prospect
Speaking to hundreds of domestic and foreign businesses at the Vietnam Business Forum, Minister of Planning and Investment Vo Hong Phuc affirmed that with its strong determination to go through reform in the Doi Moi (Renewal) process, the Vietnamese Government is willing to hold an open dialogue with both domestic and foreign businesses. Mr Phuc said that the Government is implementing measures to boost infrastructural development and administrative reform to create favourable conditions for investors to access financial sources, land and services.
In addition to ODA, overseas remittances and domestic investment have increased dramatically. The Government’s reforms and strong commitments have helped attract more foreign investors to do businesses in
At the ASEAN Forum which was held in Hanoi in November, Herve Novelli, State Secretary in charge of France’s foreign trade and enterprises said that the number of German investors in Vietnam is three time bigger than that of France and he considered it as a challenge to the French Government and business community to overcome. Mr Novelli affirmed that French businesses are quite capable of improving their position in the region.
Regarding the rapid attraction of foreign investors in
Add new comment