Illustrative photo (Photo: VNA)

Hanoi (VNA) – Places with stable and favourable policies which promote business linkages are magnets for foreign investment, said Co-Chairman of the Vietnam Business Forum (VBF) Consortium’s Management Board Sagara Hirohide.

He made the remark at a press conference held on June 15 on the threshold of the VBF 2017.

He lauded Vietnam’s efforts to improve its business climate, especially the recently passed Law on Support of Small-and Medium-sized Enterprises (SMEs). He said the move will encourage the development of private businesses.

Vietnam boasts huge potentials to attract foreign investors, he stressed, adding that both large enterprises and small-scale firms from Japan can set up business relations in Vietnam due to the favourable business climate and simple and transparent legal procedures.

Business links will aid the Vietnamese industrial sector, particularly the support industry, he said.

For his part, President of the Vietnam Chamber of Commerce and Industry and Co-Chairman of the VBF Consortium’s Management Board Vu Tien Loc, said that measures to connect domestic and foreign firms, especially SMEs, would be discussed at the VBF 2017 on June 16.

Enterprises must set up business cooperation and the Government will provide them with favourable policies and conditions, Loc stressed.-VNA