[Photo caption: Prime Minister Nguyen Tan Dung speaks at the Vietnam Global Investment Forum in Hanoi on September 30, 2015. By Tuoi Tre News.]

Tuoi Tre News, 30 September 2015. PM names four key measures to make Vietnam attractive to foreign investors.

An edited extract of the original article appears below.

Vietnam always welcomes stable and long-term investments from foreign businesses and is taking four key measures to increase its attractiveness in international investors’ eyes, Prime Minister Nguyen Tan Dung has asserted.

The Vietnamese premier recounted the achievements Vietnam’s economy has made over the past 30 years, since a large-scale economic reform was first in place in 1986, as he addressed the Vietnam Global Investment Forum in Hanoi on Wednesday.

Vietnam continually recorded a GDP growth rate of about seven percent per annum from 1986 to 2010, and the rate revolved around six percent between 2011 and 2014, according to the premier.

The country has targeted growth at 6.2-6.5 percent in 2015, which would be the fastest since 2011.

Vietnam’s foreign direct investment currently totals about US$270 billion, with more than 19,000 operational projects run by investors from 105 countries and territories.

The Southeast Asian country is a member of ten free trade agreements, with 55 partner countries, including G7 and G20 members.

It is expected to sign a trade pact with the European Union later this year, and hopes to conclude negotiations with 11 partners in the Trans-Pacific Partnership (TPP) agreement talks.

“But Vietnam acknowledges that such achievements still do not match its potential, and it is thus exerting more efforts to make the most of its potential for development,” Dung said.

There are four key measures the Southeast Asian country is enacting to make it more attractive to foreign investors, the premier told the forum.

These consist of perfecting the business environment, which includes the:

  1. Improvement of market economy institutions
  2. Construction of investment infrastructure
  3. Privatization of state-owned enterprises; and the
  4. Development of the financial market.

Vietnam is determined to keep pace with such regional countries as Singapore, Malaysia, Thailand and the Philippines in business climate-related indexes, such as taxation, customs, construction, land, and power access, in 2016, the premier elaborated…

 

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