Hanoi (VNA) – The Minister of Finance emphasized that Vietnam guarantees investors' legitimate rights and interests while continuously improving the business environment to ensure long-term, secure investment operations.The Vietnamese government has created favorable conditions for long-term development, cooperation, and fair competition.
Based on this foundation, Vietnam guarantees investors' legitimate rights and interests while continuously enhancing the investment and business environment to ensure that investors feel secure in their long-term operations.
Minister of Finance Ho Duc Phoc highlighted this at the investment promotion conference titled "Vietnam – Your Investment Destination," organized by the Ministry of Finance in Singapore on August 6.
According to the Minister, Vietnam has demonstrated a robust economic growth rate with significant potential to attract foreign investment, thanks to advantages that few other countries possess.
Geographically, Vietnam is located in Southeast Asia, with a coastline stretching 3,200 km and numerous international ports connecting five continents.
Currently, Vietnam is developing multiple international airports and an extensive network of highways, including high-speed railways and expressways, which will significantly reduce costs for businesses.
Additionally, the Vietnamese government has signed numerous free trade agreements, reflecting the deep integration of the Vietnamese economy with the global economy.
Vietnam also has a large, young, highly skilled workforce and a consistent and effective financial and investment incentive mechanism.
The investment and business environment is continually being improved, creating favorable conditions for investment attraction, the Minister of Finance noted.
Vietnam's participation in the global minimum tax reflects the country’s proactive approach to fulfilling its bilateral and multilateral tax commitments.
Mr. Mai Xuan Thanh, Director General of the General Department of Taxation in Vietnam, emphasized that this also demonstrates the stability, transparency, and consistency of Vietnam’s tax policies.
Throughout the policy-making process for implementing the global minimum tax, Vietnamese authorities have consulted investors and the "Big Four" audit firms multiple times to devise the most appropriate solutions for all parties involved.
Addressing investors, Chairwoman of the State Securities Commission Vu Thi Chan Phuong revealed that the Commission has drafted and announced a circular amending four regulations related to securities transactions, information disclosure, payment, and the operation of securities companies to meet international standards.
A key point of the draft is that it does not require foreign institutional investors to deposit 100% of the funds before trading.
"We are committed to treating all domestic and foreign investors equally, particularly regarding access to information. The new draft circular includes revisions to Circular 96/2020/TT-BTC on information disclosure in the securities market. Accordingly, the draft specifies a clear roadmap for listed companies to disclose periodic and ad-hoc information in English," said the Chairwoman of the State Securities Commission.
Another issue of great concern to foreign investors is the foreign ownership limit. According to Ms. Phuong, the State Securities Commission will work with relevant agencies to regularly update information on foreign ownership limits in restricted or conditional business sectors.
Moreover, the State Securities Commission has reformed administrative procedures, enabling the opening of securities investment accounts and granting trading codes within a single day.
For foreign indirect investment accounts, the State Bank of Vietnam also coordinates with the Ministry of Finance to minimize administrative procedures, aiming to allow quick account openings.
Additionally, the regulator will continue strengthening oversight and management to enhance transparency and disclosure in the market.
It encourages listed companies to adopt international best practices in corporate governance and implement ESG (Environmental, Social, and Governance) standards.
The regulator is also working to implement International Financial Reporting Standards (IFRS) as soon as possible to align with international financial reports.
Chairman and CEO of Dragon Capital Vietnam, Dominic Scriven, shared that Vietnamese regulators have implemented many solutions to develop the stock market.
However, investors are looking forward to further development, hoping Vietnam will soon be recognized as an emerging market rather than a frontier market./.
