At the seminar between the State Capital Management Committee at Enterprises and Vietnamese Chief Representatives abroad (the 2020-2023 term) on September 29th in Hanoi, Deputy Minister of Foreign Affairs, Mr. Bui Thanh Son stated, 'Vietnam is one of the countries with many regional and inter-regional free trade agreements.' Up to now, Vietnam has currently signed 13 free trade agreements and is negotiating to sign 3 more.
Speaking of the Covid-19 epidemic, the Deputy Minister of Foreign Affairs said that the world economy has suffered the most enormous damages since 1933. While the world economic growth is declining, the Vietnamese economy is witnessing positive signals.
‘Vietnam is a bright spot that is highly appreciated and attracted by many countries and large economic corporations. Thus, the movement in the international investment chain is heading to this potential market. According to a review from overseas Vietnamese representative agencies, more than 126 large corporations and enterprises are shifting and look forward to their investment in Vietnam. This is a considerable opportunity for Vietnam to boost investment cooperation as well as high-quality investment inflow’, said Mr. Bui Thanh Son.
The Ministry of Foreign Affairs identified that 94 overseas diplomatic representatives considerably contribute to the promotion of economic diplomacy. This seminar is a necessary occasion for the leaders to listen to the inquiry of businesses, support, and solve their difficulties in investing.
On the side of the State Capital Management Committee at Enterprises, Chairman Nguyen Hoang Anh stated that this agency currently manages 19 groups and corporations, and holds 100% capital in 12 of them. However, due to the influence of the Covid-19 epidemic, many businesses are facing difficulties and need solutions to overcome.
The State Capital Management Committee at Enterprises issued Decision 153/QD- UBQLV on March 31st, 2020, and promulgated the 2020 business program. The goal of the program is to continue implementing solutions to support and motivate corporations and enterprises to maintain production and business activities in 2020, promote the role of economic locomotives leading other sectors in the economy, boost exports and economic growth.
At the seminar, Mr. Nguyen Hoang Anh also proposed that the Ministry of Foreign Affairs and overseas representative offices continue to support and connect with potential foreign businesses and investors. This will encourage them to participate in the equitization process of enterprises of the State Capital Management Committee.
Many enterprises and corporations discussed the current situation and proposed support in the coming time. In particular, in the current Covid-19 epidemic context, the aviation industry is seen as an important bridge in promoting external economic development and promoting trade between Vietnam and other countries.
Deputy General Director of Vietnam Airlines, Mr. Le Hong Ha proposed the Ambassador and the Consulate General work with the authorities of countries to build a ‘green lane’ in establishing and reorganizing international commercial routes to 7 countries and territories approved by the Prime Minister, including a common policy between Vietnam aviation and the host country.
The Deputy General Director of Vietnam Airlines also emphasized that the flight slot (take-off/landing time) is an essential ‘property’ for airlines. Therefore, it is proposed that Ambassadors and Consulates in other countries should work with local authorities to retain the flight slot that the airline had to cancel because of the Covid-19 epidemic.
In response to the press at the regular government press conference on October 2nd, Deputy Minister of Planning and Investment, Mr. Tran Quoc Phuong also explained the investment shift into Vietnam. Attracting foreign investment under the impact of Covid-19 and the current investment situation in the world indicates that the relocation of production and business offices of large corporations and enterprises from one country to another.
‘In this investment shift, Vietnam is rated as an attractive destination. Many reasons attract investors, including political stability, macroeconomics, geographical location, favorable conditions related to land, business investment environment, or human resources.’
The Deputy Minister informed that from the beginning of the year, the ministry has contacted and connected with many investors, organized online investment promotion programs with partners in Asia such as Japan, Singapore as well as France, and European countries.
‘These investment promotion programs show that many international investors are interested in investing in Vietnam, especially Vietnam's direction of attracting investment. In particular, these investors have connected with Vietnamese enterprises, shown interest in large-scale projects, which are environmentally friendly and feature modern technology', said Mr. Tran Quoc Phuong.
The names of specific investors should not be revealed due to confidentiality. Mr. Tran Quoc Phuong explained, ‘This shows Vietnam’s respect for investors in the context of fierce competition among markets and among investors.’
Compiled by VietnamCredit