PM pledges optimum conditions for foreign investors

Addressing the mid-term Vietnam Business Forum (VBF) in Hanoi on June 5, Dung recalled the recent disturbances by a number of extremists, in the wake of China’s illegal placement of its Haiyang Shiyou - 981 oil rig in Vietnam’s exclusive economic zone, affecting FDI operations.

He said the Vietnamese government has taken the matter very seriously and have implemented tough measures against the unrest, to help affected businesses recover from the consequences and resume normal operation, as well as ensuring safety and security for foreigners in Vietnam.

The Government of Vietnam will continue to be proactive in preventing riots and public disorder and intensify practical measures for stable operation of foreign businesses in the country, he assured representatives of FDI businesses attending the gathering.

VBF Co-Chair Virginia Foote spoke highly of the Vietnamese government’s timely response to the incident and expressed her belief that Vietnam will work out effective solutions to overcome the consequences in a transparent, professional and reasonable manner. 

She suggested establishing a post-incident compensation agency with the participation of international agencies and in accordance with global norms, and vowed to support its operation.

On behalf of investors, Virginia Foote voiced her support for Vietnam’s economic growth and its increasing role in the global supply chain.

Kim Jung In, Chairman of the Korean Business Association in Vietnam, offered his deep sympathy to the Vietnamese government and the foreign firms facing difficulties as a consequence of the recent incident.

He called on FDI businesses to join hands, together with the government, to overcome this difficult time.

Kim proposed the Vietnamese government officially announce specific strategies to stabilise the investment climate, such as providing prompt compensation, offering low interest rates and exempting tax for sufferers of the recent civil unrest.

Other delegates appreciated Vietnam’s implementation of its WTO commitments, saying that the country is conducting negotiations on free trade agreements (FTAs) with global powers and proactively taking part in Trans-Pacific Partnership (TPP) agreement negotiations.

Joining these deals will lay solid foundations for Vietnam to integrate deeply into the global economy, they said.

They also emphasised that to seize these opportunities, Vietnam should sustain its macroeconomic stability, boost economic restructuring, shift the growth model, and build a healthy businesses environment for foreign investors.