Vietnam will ensure absolute security and safety for foreign organisations, businesses and individuals in the country, Prime Minister Nguyen Tan Dung has reiterated.

Speaking at the 2014 mid-term Vietnam Business Forum, co-organised by the Ministry of Planning and Investment and the World Bank in Hanoi, on June 5, PM Dung mentioned recent regrettable disturbances which occurred in some localities. He said that incidents arose during public opposition to China’s illegal placement of the oil rig Haiyang Shiyou-981 in Vietnam’s exclusive economic zone, causing damage to businesses’ assets.

Vietnam took timely measures to solve the problem and prevent it from reoccurring, he said, adding that the country has provided all the support it can to help affected businesses resume operations.

Regarding Vietnam’s socio-economic development objectives in the future, the Government leader said Vietnam consistently pursues the goal of building itself as a socialist country of peace, independence and self-reliance with prosperous people, internal strength and a democratic, fair and civilised society.

“Vietnam a friend and a reliable partner of all countries and the international community, and will exert every effort to develop its economy in a rapid and sustainable manner in parallel with social progress and equality,” he affirmed.

To realise these targets, PM Dung stated that Vietnam will continue perfecting the market economy institution in a fuller and more effective and dynamic way.

The country will also speed up the intensive and extensive integration into the international community and the world economy, he added.

“We will implement all regulations of the market economy, especially in monitoring the price mechanism and allocating resources,” he said, noting that together with tools to regulate the economy, a number of solutions and policies will be carried out to realise social progress and equality.

Vietnam will continue improving its investment and business environment to make it more transparent, equal, competitive and suitable to the market economy as well as global integration commitments and practices. The country will also issue laws and regulations ensuring enterprises’ right to business freedom.

According to the PM, as Vietnam is stepping up its economic restructuring, the country will create the most possible favourable conditions for private businesses, which are seen as an important driving force for its socio-economic development, while facilitating stronger flows of investment from foreign investors.

He said that the country will encourage all economic sectors at home and abroad to invest in infrastructure development, especially through the form of public-private partnerships (PPP).

The Vietnamese Government is focusing resources on training human resources in order to meet requirements of the labour market and businesses in particular, he added.

Vietnam will guarantee and promote people’s direct and indirect democratic rights, he said, adding that the country will pay special attention to the completion of institutions and polices, and administrative reforms in order to improve the efficiency of a state ruled by law.

The forum, themed “Agenda to Action – Preparing for a New Trade Agreement”, is an annual policy dialogue between the Vietnamese Government and the domestic and foreign business communities aimed at building a favourable business environment in Vietnam and boosting its sustainable economic development.

Delegates are scheduled to discuss opportunities and challenges facing Vietnam after it signs important agreements such as the Trans-Pacific Partnership (TPP) Agreement and a Free Trade Agreement (FTA) with the European Union.

They will also propose solutions for the banking sector, capital market, investment and trade, tax and customs, labour and employment, infrastructure, agriculture and tourism.-VNA