Prime Minister meets with foreign direct investment business community and attends Vietnam Business Forum

The event was organized by the Ministry of Planning and Investment of Vietnam, the World Bank Group (WB), and the International Finance Corporation (IFC). The event was attended by leaders of central ministries, agencies, and authorities; representatives of diplomatic agencies, international organizations, associations, FDI enterprises, and economic experts.

VBF is a continuous and close dialogue mechanism between the Government of Vietnam and the business community to improve the necessary business conditions to promote the development of the private sector and facilitate investment environment contributing to the sustainable economic growth of Vietnam.

According to the Roadmap for Sustainable Economic Recovery report, VBF affirmed that despite facing many difficulties, Vietnam still maintains its attractiveness to foreign businesses and ranks among the top 3 attractive destinations for investors.

The business environment in Vietnam is attractive thanks to its stable political situation, low labor costs, and expanding consumer market. Therefore, the government needs to continue implementing supportive measures to achieve sustainable growth, focus on improving the skills of the workforce, especially in the manufacturing and processing sector, and create a prosperous and flexible business environment.

In the opening statement, Minister of Planning and Investment Nguyen Chi Dung emphasized the significance of the conference in the context where the foreign direct investment (FDI) plays an increasingly important role in the regional economy. FDI is an important part of the national economy, contributing significantly to attracting investment capital, technology, modern management methods, expanding export markets, and considered as a driving force for economic development, enhancing international cooperation, and participating in global value chains.

The important attendance and guidance speech of Prime Minister Pham Minh Chinh demonstrate the special attention of the head of the government to the business community in general and FDI enterprises in particular, spreading a resolute spirit of action and always accompanying the government and Prime Minister’s enterprises.

The Minister emphasized the importance of green growth for the country’s future. Prime Minister Pham Minh Chinh has approved the National Green Growth Strategy for the period 2021-2030 with a vision to 2050.

The strategy clearly identifies green growth as an important solution to promote economic restructuring associated with growth model innovation, improve competitiveness, and directly contribute to reducing greenhouse gas emissions towards a carbon-neutral economy in the long term.

Green growth places human beings at the center, relies on modern institutions, modern management, advanced science and technology, a high-quality workforce, invests in advanced technology, digital transformation, intelligent and sustainable infrastructure.

In the process, the business community is identified as a key factor and plays an important role. With strengths in capital, technology, management, networks, markets, FDI enterprises must take the lead, guide, and accompany domestic enterprises to implement the goals of the Green Growth Strategy.

With its economic potential and regional economic position in the global supply chain, Vietnam is presented with a great opportunity for green growth to transform, catch up, and lead, creating momentum for a leap forward in economic, social, and environmental development.

The green growth orientation is the key to ensure the successful implementation of the goals in the 10-year Socio-economic Development Strategy 2021-2030; creating opportunities for Vietnam to continue its renewal, promote the transformation of the growth model in depth, focus on enhancing quality, efficiency, and sustainability at the whole economy level as well as the enterprise level.

With that meaning, choosing the theme “FDI enterprises pioneering the implementation of the Green Growth Strategy” for this conference has strongly demonstrated the determination of the Government as well as affirmed the special and important role of the business community, especially FDI enterprises in implementing green growth to realize the strategic goals of reducing greenhouse gas emissions, greenizing economic sectors, promoting a strong green transformation based on the principles of universality, equality, mutual benefits, improving resilience and leaving no one behind.

Nitin Kapoor, Co-Chair of VBF, assessed this as a milestone event that demonstrates the determination of businesses in Vietnam – one of the fastest-growing economies in the world. Green growth plays a crucial role for Vietnam.

He delivered a strong message: Let’s stand alongside Vietnam to take care of the planet, achieve the future green growth goals.

Immediately after the opening session, the forum proceeded to the discussion session with 2 main topics: the role of FDI in the new context and the responsibility of FDI enterprises in implementing the green growth strategy.

During the forum, foreign business associations in Vietnam such as BritCham, AmCham, KoCham, JCCI, EuroCham… provided their opinions on the potential and large cooperation opportunities in the Vietnamese market, as well as their recommendations to the Vietnam Government and Prime Minister on measures to further improve the investment business environment. Following that were the responses from leaders of Vietnamese ministries and agencies.

The Government Electronic Portal will continue to update information on this event.