On the morning of October 16, at the Government Headquarters, the Prime Minister's Conference with the business community with foreign investment in Vietnam (FDI) with the theme "Accompanying and developing" was held. Prime Minister Pham Minh Chinh chaired the Conference.This is the next activity after the Conference "The Prime Minister meets foreign investors" held in April 2023, affirming the consistent policies and guidelines of the Party and State of Vietnam towards foreign investment sector; demonstrates the Government's concern and companionship with the business community and foreign investors
The March-April edition of the Multilateral Newsletter gives insights on the key happenings at the various multilateral institutions and highlights the key discussions and deliberations at the informal WTO Ministerial Meeting held in New Delhi.
WTO plays a vital role by bringing stability and predictability to the multilateral trading system. It is a collective responsibility of WTO members to address the challenges faced by the system and putting the economies back on steady and meaningful way forward.
Several proposals and initiatives on investment facilitation were tabled at the WTO in the run-up to the 11th Ministerial Conference. The proponents advocated discussions on Investment Facilitation within the WTO framework. However, there was no consensus on initiating negotiations, or even establishing a Work Programme, on Investment Facilitation. A clear need of more work to look at all aspects of a potential multilateral rules on Investment, particularly on its impact on domestic policy space was stated.
In order to deepen the understanding between the member it is important that an open, transparent and inclusive approach of decision making for the various interventions. The informal WTO Ministerial gathering in New Delhi saw convergence of around 53 members representing a broad spectrum of the WTO membership.
CII, as an Industry Institution is cognizant of the need for India to engage constructively in some of the new issues being discussed under the WTO framework.
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Prime Minister_ Building a healthy, stable, and sustainable business investment ecosystem.pdf
1. Prime Minister: Building a healthy, stable, and
sustainable business investment ecosystem.
.On the morning of October 16, at the Government Headquarters, the Prime
Minister's Conference with the business community with foreign investment in
Vietnam (FDI) with the theme "Accompanying and developing" was held.
Prime Minister Pham Minh Chinh chaired the Conference. Bitcoin Mastery
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This is the next activity after the Conference "The Prime Minister meets
Foreign Investors" held in April 2023, affirming the consistent policies and
guidelines of the Party and State of Vietnam towards the foreign investment
sector; demonstrating the Government's concern and companionship with the
business community and foreign investors.
Also attending were Minister of Labor, War Invalids and Social Affairs Dao
Ngoc Dung; Minister of Industry and Trade Nguyen Hong Dien; leaders of
ministries and central branches; Representatives of 15 associations and 180
foreign-invested enterprises in Vietnam.
FDI enterprises continue to expand investment and business in Vietnam
In the context that the world situation continues to evolve rapidly and
complicatedly, with many unprecedented problems, exceeding forecasts in the
first 9 months of 2023, Vietnam's socio-economic situation still achieves
outstanding and worthy results. record. Macroeconomic stability is maintained;
growth is promoted. Inflation is controlled; The major balances of the economy
are guaranteed...
In particular, inflation in general tends to decrease gradually in the context of
world inflation remaining at a high level, the average CPI of 9 months
increased by 3.16%; Growth recovered positively, the next quarter being
4.24% higher than the previous quarter. State budget revenue in 9 months
reached 75.5% of the yearly estimate; while implementing exemption,
reduction, and extension of taxes, fees, charges, and land rent of 152.5 trillion
VND. Exports in September increased by 4.6%, imports increased by 2.6%
over the same period. In total, the trade surplus in 9 months is 21.68 billion
USD. Energy security and food security are guaranteed.
Notably, total registered FDI capital in 9 months reached 20.21 billion USD, up
7.7% over the same period. Realized FDI capital reached 15.91 billion USD,
an increase of 2.2%. By the end of September 2023, there were 144 countries
and territories investing in Vietnam with more than 38.3 thousand valid
projects, and a total investment capital of more than 455 billion USD, creating
jobs and income for millions of workers.
3. Many reputable international organizations highly appreciate the situation and
prospects of the Vietnamese economy. In particular, the Heritage Foundation
ranked Vietnam's 2023 Economic Freedom Index at 61.8 points, an increase
of 12 points compared to 2022. Financial Times magazine identified Vietnam
as "one of the 7 economies that stand out in a turbulent world." Vietnam's
national brand is the fastest growing in the world in the period 2019 - 2022,
reaching 431 billion USD in 2022. Cashflow Secrets Digital membership
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In a lively discussion at the Conference, 19 delegates, representatives of
associations, and foreign investment enterprises in Vietnam said that in recent
times, in the face of difficulties and challenges, the spirit of accompanying
businesses has been promoted. Industry, the Government, ministries,
branches, and localities in Vietnam have created legal conditions and
proactively removed bottlenecks and barriers to help businesses invest and do
business smoothly; Support businesses to access new markets, boost exports
and promote domestic consumption; promote administrative procedure
reform, improve the investment environment, and shorten procedure time for
4. businesses; Prepare necessary conditions to attract investment such as clean
premises, infrastructure, energy, labor. X Trend Premium Highly
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Associations and foreign-invested enterprises in Vietnam commit to working
with Vietnam to promote business investment according to Vietnam's priorities
such as development based on science and technology, innovation, and
economic development. digital, circular economy, sharing economy, green and
sustainable development, combating climate change. Delegates made plans
for adaptation, rapid recovery, and sustainable development; Proposed
solutions to seize opportunities, overcome challenges, cooperate in
development and share investment plans, and expand investment in several
fields in Vietnam.
President of the American Chamber of Commerce in Vietnam (AmCham) John
Rockhold said that the United States - and Vietnam have upgraded their
relationship. This is an important time and a great opportunity to improve the
5. policy framework and investment environment to attract new investment flows
and support the development of currently operating investors and businesses.
in Viet Nam.
AmCham will continue to coordinate with the Government of Vietnam to
identify and remove bottlenecks, and help the Government build a legal
environment according to global standards; Expects the Government to
continue reforming regulations to avoid applying procedures that create
additional administrative burdens for businesses; Helps businesses access
energy supply and access to renewable energy...
Mr. Ng Boon Teck, the representative of the Singapore Business Association
in Vietnam, hopes that the Government will continue to have financial
mechanisms, tax policies, research on establishing electricity connection
points, etc. to help Singapore businesses build logistics "highways",
strengthening the supply chain in Vietnam in an environmentally friendly way.
Chief Representative of Swire Group in Vietnam, Josh Williams, expressed his
belief in sustainable development in Vietnam and believes in emission
reduction policies to achieve the net zero goal by 2050. Swire Group commits
to 100 % of packaged products in Vietnam can be reused and efforts will be
made to contribute to the net-zero target set by Vietnam by 2050. Fibo
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Chairman of the Board of Directors and General Director of DEEPC Industrial
Park Complex Bruno Jaspert proposed that the Prime Minister and the
Government of Vietnam consider introducing policies to encourage
eco-industrial parks by applying long-term land lease periods. more for
industrial parks that meet those standards; At the same time, apply special
taxes to areas that cannot or do not want to comply and use this revenue to
build a sustainable future development fund...
A representative of the Japan External Trade Organization (JETRO) said that
the economy is showing signs of growth after a few difficult years; In which,
fields such as digitalization and information technology grew steadily. Vietnam
needs to focus on the manufacturing industry and innovation; At the same
time, we believe that Vietnam will become one of the most attractive countries
in the digital space...
6. The Vietnamese government accompanies businesses and develops
them together.
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After representatives of leaders of ministries and branches spoke, answered
opinions of foreign associations and businesses, and concluded the
conference, Prime Minister Pham Minh Chinh acknowledged the enthusiastic,
profound, and responsible opinions. responsibilities of delegates; request the
Ministry of Planning and Investment, relevant ministries, and branches to
seriously absorb opinions from businesses and investors; Proactively handle
immediately, have clear and specific written responses to suggestions and
recommendations according to authority or promptly summarize and report to
competent authorities according to regulations.
7. On behalf of the Party and State leaders, the Prime Minister expressed his
thanks to foreign businesses for coming to Vietnam to invest; always
accompanying and sharing with Vietnam to overcome difficulties and
challenges and take advantage of development opportunities; Accompanying
Vietnam to building an independent, self-reliant economy associated with
proactive, active, deep, substantive and effective international integration; In
the context of many difficulties and challenges, investors are still committed to
expanding production and business investment in Vietnam.
The Prime Minister emphasized that the Vietnamese Government is
committed to always protecting the legitimate rights and interests of
businesses in any case; always accompanying businesses, overcoming
difficulties and challenges, taking advantage of opportunities to develop
stable, long-term businesses in Vietnam, in the spirit of "harmonious benefits,
shared risks"; Do not criminalize economic and civil relations, but protect
those who do right and punish those who do wrong to protect a healthy, stable
and sustainable business investment ecosystem.
Information to the Conference on 9 important foundations of Vietnam's
economy, politics, society, defense, security, and foreign affairs so that
businesses can feel secure in investing in production and doing business
smoothly and stably. sustainability, the Prime Minister said, Vietnam's
economy continues to be a bright spot in the not-very-bright picture of the
global economy. The important results were achieved thanks to the leadership
of the Communist Party of Vietnam, headed by General Secretary Nguyen
Phu Trong, the efforts of the entire political system, the support of people and
businesses, and especially the effective support and support of the
international community, including foreign investment enterprises. Money
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The Prime Minister affirmed that the Party and State of Vietnam pay special
attention and identify that the foreign-invested economic sector is an important
component of the Vietnamese economy and is encouraged, to create
conditions for long-term development, cooperation, and healthy competition
with other economic sectors. The State respects and protects the legitimate
and legal rights and interests of investors.
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Informing the business community about the major directions for Vietnam's
development in the coming time, the Prime Minister said that Vietnam is
steadfast and persistent in its goal of stabilizing the macroeconomy, controlling
inflation, and promoting economic growth. growth, ensuring major balances of
the economy; Implement proactive, flexible, timely, and effective monetary
policy; Coordinate synchronously and closely with a reasonable, focused, and
focused fiscal expansion policy.
Vietnam focuses on promoting three growth drivers: investment, export, and
consumption; creating clear changes in implementing strategic breakthroughs
in institutions, human resources, and infrastructure systems. Pay special
attention to creating driving forces for growth, especially emerging industries
such as semiconductor chips, artificial intelligence (AI), big data, e-commerce,
green energy, and development. Developing green economy, circular
economy, sharing economy...
9. Regarding investment attraction orientation, the Prime Minister said that
Vietnam continues to create favorable conditions and build a safe,
transparent, and highly competitive business and investment environment for
the business community and investors. , including foreign investors who are
assured of long-term investment in Vietnam. In particular, Vietnam advocates
selective investment attraction and cooperation, taking quality, efficiency,
technology, and environmental protection as the main evaluation criteria;
Committed to creating the best business environment towards OECD
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The Prime Minister requested ministries, branches, and localities to continue
to seriously and effectively implement the Party's guidelines and policies, the
State's policies and laws, especially Resolution No. 41-NQ/TW of the Ministry
Politics on building and promoting the role of Vietnamese businessmen in the
new era, creating a favorable business investment environment with the motto
"Taking people and businesses as the center, as the subject, as the
development goals, motivation, and resources".
Along with that, continue to review, amend, supplement, and complete foreign
investment cooperation policies by the practical situation, with high
competitiveness, international integration, by the orientation, planning, and
requirements for national development; Focus on improving the business
investment environment and creating favorable conditions and reducing costs
for businesses; Effectively deploy debt restructuring solutions, debt
rescheduling, interest rate exemptions and reductions; postpone, postpone,
exempt, reduce taxes, fees, charges, land rent...
In particular, ministries, branches, and localities seriously listen to
recommendations and proposals of businesses and investors, including
foreign investors, with the spirit of inquiry and sharing; On that basis, promptly
take effective measures, especially practical difficulties and problems, with the
motto "don't say no, don't say it's difficult, don't say yes but don't do it";
promote cooperation public and private, open up and effectively use all
resources for development, including developing a strategic infrastructure
system associated with institutional improvement, training high-quality human
resources; strengthening the work of understanding the situation, especially
on fiscal and monetary policies, with realistic forecasts to have appropriate,
flexible and timely policy responses.
10. On this occasion, Prime Minister Pham Minh Chinh requested the business
community and investors to continue researching and building long-term,
sustainable, environmentally friendly business strategies; proactively innovate
production and business models, restructure businesses associated with
development according to green economy, digital economy, circular economy,
knowledge economy, and response to climate change.
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Enterprises will implement entrepreneurial culture, regimes, and policies for
employees and accompany governments at all levels, for the benefit of
businesses, investors, and contributions to the State and Vietnamese People.
Male.
Associations need to perform their functions and tasks well; promptly inform
and report problems and difficulties of members, businesses, and investors
during business investment activities in Vietnam; promptly recommend and
11. propose appropriate policies and laws. More Money Digital membership
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The Prime Minister affirmed that he hopes and believes that foreign
businesses and investors will continue to show affection, trust, and cooperate
closely, upholding the spirit of "harmonious benefits, shared risks; harmonize
the interests between the State, people, and businesses", "what is said is
done; committed to effective implementation, accompanying and developing
sustainably and effectively with Vietnam. The success of investors is also the
success of Vietnam; Everyone wins, leaving no one behind.
Conference of the Prime Minister with foreign investment enterprises
On the morning of October 16, 2023, in Hanoi, Prime Minister Pham Minh
Chinh chaired the Prime Minister's Conference with foreign-invested
enterprises under the theme "Accompanying and developing"
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