Vietnam should prepare to welcome investment wave: official

Hanoi (VNA) – Transnational businesses are considering shifting their facilities, which is a challenge but also a good opportunity for Vietnam, and the country should prepare to welcome a wave of investment, Minister – Chairman of the Government Office Mai Tien Dung said on May 5.

At the Government’s regular press briefing, the official said other countries have highly valued Vietnam’s achievements in the COVID-19 prevention and control, thereby helping to promote the people, businesses and international community’s trust in the nation.

It’s the fact that Vietnam is one of the reliable destinations with a safe and efficient investment environment, Dung noted.

He also quoted Prime Minister Nguyen Xuan Phuc as saying that the Cabinet’s meeting earlier the same day that sectors and localities need to step up attracting foreign direct investment (FDI) as major partners are moving to change their investment and business strategies so as to disperse risks, especially amid negative impacts of the COVID-19 pandemic, and Vietnam has emerged as a favourable destination.

The PM also requested ministries, sectors and localities to continue drastically implementing the Government’s Resolution 35/NQ-CP and Resolution 02/NQ-CP to strongly improve the business climate and enterprises’ competitiveness, along with Directive 11/CT-TTg on urgent tasks and solutions to tackle production and business difficulties and ensure social security in response to COVID-19.

Dung said under the PM’s directions, social restrictions will be eased gradually so as to bring socio-economic activities back to normal.

PM Phuc ordered achieving the dual target of pandemic control and socio-economic development, noting that as the epidemic has been initially put under control, the focal task now is fostering production and business activities, creating jobs, ensuring people’s lives and promoting growth.

He demanded that Vietnam must obtain a GDP growth rate higher than the IMF’s forecast of 2.7 percent, the highest in Southeast Asia, in 2020.

At the Government’s meeting, the PM also told sectors and localities to soon devise and carry out plans to recover socio-economic development that match developments of the pandemic in the country and the world, resolutely prevent another outbreak, ensure the supply of essential goods, protect farmers’ interests, and guarantee food security in any circumstances, Dung added./.