darock0116
04-23-2007, 01:44 PM
Vietnamese ministers at a Monday conference said stronger economic and administrative reform would mean sustainable growth, and more liberal policies and incentives would improve the investment environment.
Addressing an international conference on regionalism and the modernization of Vietnam, Deputy Prime Minister Nguyen Sinh Hung stressed the Vietnamese Government considered renovation and creative labor as key measures to develop the country’s economy, with a view to protecting the environment, handling social issues and lifting Vietnam out of its poor-country status.
“The Government and people of Vietnam are determined to continue with renewal efforts in all issues related to the investment environment in the country in general and Ho Chi Minh City in particular,” he told the two-day forum, co-held by the Ministry of Planning and Investment, the Vietnam News Agency and the Asia News Network, an organization grouping 16 Asian newspapers.
Hung said more openings had recently been offered for foreign capital, particularly in the financial sector.
For instance, foreign strategic investors now could raise their stakes in Vietnamese banks from 10 per cent to 15 per cent.
Planning and Investment Minister Vo Hong Phuc said Vietnam had paid special attention to strengthening and expanding international cooperation, especially with the regional countries.
Phuc stressed Vietnam needed to maintain high economic growth, continue reform, broaden integration into the global economy, improve the economic and social infrastructure and combine industrialization with modernization.
Deputy Minister of Planning and Investment Nguyen Bich Dat said in the coming time Vietnam would prioritize foreign investment in such field as producing new materials, energy, high-tech products, and bio-technology.
To date, thousands of businesses from 77 countries and territories have invested as much as US$70 billion in Vietnam, including more than $20 billion in 2006 alone.
The country has established trade relations with more than 200 countries and economies across the world and earned $40 billion from exports last year alone, according to figures released at the forum with more than 500 delegates attending.
Regarding public administrative reform and efforts perfect the legal system, ex-Deputy Prime Minister Vu Khoan said Vietnam has done a good job in such a short time.
However, he added, there still remain some certain snags which are hindering the development of the country, such as cumbersome administrative procedures, overlapping functions within public agencies, unskilled staff, corruption and bureaucracy.
“All these should be ironed out as soon as possible.”
Exploring opportunities
The delegates are scheduled Tuesday meet officials from the HCMC People Committee, Planning and Investment Ministry, and the Vietnam Chamber of Commerce and Industry to discuss investment opportunities.
They will visit the new urban center in District 7, Phu My Hung; Amata City in Bien Hoa Industrial Park, Dong Nai province; and the Vietnam-Singapore Industrial Park in Binh Duong province.
Vietnam became the 150th member of the WTO at the beginning of this year which, together with the country's global integration and modernization, has been a magnet for foreign direct investment.
The forum is sponsored by Vietnam Airlines, Vinacapital, Citigroup, and the Phu My Hung Corporation.
http://www.thanhniennews.com/business/?catid=2&newsid=27380
Addressing an international conference on regionalism and the modernization of Vietnam, Deputy Prime Minister Nguyen Sinh Hung stressed the Vietnamese Government considered renovation and creative labor as key measures to develop the country’s economy, with a view to protecting the environment, handling social issues and lifting Vietnam out of its poor-country status.
“The Government and people of Vietnam are determined to continue with renewal efforts in all issues related to the investment environment in the country in general and Ho Chi Minh City in particular,” he told the two-day forum, co-held by the Ministry of Planning and Investment, the Vietnam News Agency and the Asia News Network, an organization grouping 16 Asian newspapers.
Hung said more openings had recently been offered for foreign capital, particularly in the financial sector.
For instance, foreign strategic investors now could raise their stakes in Vietnamese banks from 10 per cent to 15 per cent.
Planning and Investment Minister Vo Hong Phuc said Vietnam had paid special attention to strengthening and expanding international cooperation, especially with the regional countries.
Phuc stressed Vietnam needed to maintain high economic growth, continue reform, broaden integration into the global economy, improve the economic and social infrastructure and combine industrialization with modernization.
Deputy Minister of Planning and Investment Nguyen Bich Dat said in the coming time Vietnam would prioritize foreign investment in such field as producing new materials, energy, high-tech products, and bio-technology.
To date, thousands of businesses from 77 countries and territories have invested as much as US$70 billion in Vietnam, including more than $20 billion in 2006 alone.
The country has established trade relations with more than 200 countries and economies across the world and earned $40 billion from exports last year alone, according to figures released at the forum with more than 500 delegates attending.
Regarding public administrative reform and efforts perfect the legal system, ex-Deputy Prime Minister Vu Khoan said Vietnam has done a good job in such a short time.
However, he added, there still remain some certain snags which are hindering the development of the country, such as cumbersome administrative procedures, overlapping functions within public agencies, unskilled staff, corruption and bureaucracy.
“All these should be ironed out as soon as possible.”
Exploring opportunities
The delegates are scheduled Tuesday meet officials from the HCMC People Committee, Planning and Investment Ministry, and the Vietnam Chamber of Commerce and Industry to discuss investment opportunities.
They will visit the new urban center in District 7, Phu My Hung; Amata City in Bien Hoa Industrial Park, Dong Nai province; and the Vietnam-Singapore Industrial Park in Binh Duong province.
Vietnam became the 150th member of the WTO at the beginning of this year which, together with the country's global integration and modernization, has been a magnet for foreign direct investment.
The forum is sponsored by Vietnam Airlines, Vinacapital, Citigroup, and the Phu My Hung Corporation.
http://www.thanhniennews.com/business/?catid=2&newsid=27380