VietNamNet Bridge - Vietnam has sent a clear message that it is determined to increase the attractiveness of the domestic investment environment in order to satiate the needs of foreign investors into the country.
Addressing the Vietnam Business Forum 2007, which opened in Ha Noi on May 30, Minister of Planning and Investment Vo Hong Phuc said, “Vietnam has been hard at work in preparing conditions to welcome a new wave of foreign investment, including implementing its bilateral and multilateral commitments.”
The minister told delegates in attendance that the country is highlighting areas such as the fine tuning of the market mechanism, reform in administrative procedures and financial and banking systems, developing human resources, infrastructure development and establishing needed auxiliary industries.
According to a Ministry of Planning and Investment (MPI)’s report, the GDP growth rate in the past five months hovered close to 7.9 percent and was the highest recorded rate for the last several years.
Over the period, 19,300 new businesses registered for licenses with a total invested capital of 134 trillion VND (8.4 billion USD), an year-on-year increase of 140 percent.
Sin Foong Wong, Vietnam Director of the International Financial Organisation (IFC), said Vietnam has with the Enterprise Law and Investment Law shown its readiness to form an equal playground for all businesses.
However, the IFC Vietnam leader, who co-chaired the forum, urged Vietnam to further improve its investment environment in order to promote its image on the world arena.
The Vietnam Business Forum is an annual event within the Consultative Group Conference of donors to Vietnam framework and was organised by the MPI, IFC and World Bank.
This year’s forum attracted the participation of hundreds of representatives from diplomatic and international organisations and Vietnamese and foreign businesses.
It directs dialogue with the government on the investment environment, financial-banking services, the implementation of World Trade Organisation (WTO) commitments, the Enterprise Law and the Investment Law, sea ports, tourism, mining, tax and land use. (Source: VNA) | 
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