The Vietnamese Government will continue creating favourable conditions for foreign businesses to make investment in Vietnam and protect their intellectual property and asset rights.

Prime Minister Nguyen Xuan Phuc (C) takes photo with entrepreneurs

Prime Minister Nguyen Xuan Phuc made the pledge at a meeting on May 12 with representatives from 21 world leading companies from the US, Canada, Japan, the 

Republic of Korea, the UK, Switzerland, Singapore and China’s Hong Kong, at the 26th World Economic Forum on ASEAN (WEF ASEAN) in Phnom Penh, Cambodia.

He said doing business in Vietnam will give foreign investors access to not only a market with 93 million people in Vietnam but also the greater market of ASEAN and the world, as the country has signed 12 free trade agreements, and is pushing ahead with negotiations on four other pacts.

The PM told the audience that Vietnam’s renewal process and open policies have helped domestic and foreign businesses reap success doing business in the country. 

At the meeting, WEF Managing Director Philipp Roesler described the Mekong River region, including Vietnam, as a dynamic area with young population and urged 

enterprises to invest in the region and create more jobs for young people. 

Participating entrepreneurs recognized Vietnam’s high determination and efforts to reform and improve the business investment environment as well as the Government’s support for the foreign business community.

The same day, PM Phuc attended a talk on Vietnam held by the WEF and Vinacapital, during which he said Vietnam strives to realize the average growth target of 6.5-7 percent from now to 2020.

The country will push ahead with the improvement of the market economy institutions and strongly encourage the development of the private economic sector to become an 

important driving force in the domestic economy, he said.

He re-affirmed the resolve to build a development-facilitating government, restructure the economy and reform the country’s growth model.

PM meets with business leaders on sidelines of WEF-ASEAN

Prime Minister Nguyen Xuan Phuc met with leaders of major businesses on the sidelines of the World Economic Forum (WEF) on ASEAN 2017 in Phnom Penh, Cambodia, on May 12.

Prime Minister Nguyen Xuan Phuc (R) meets with Doreen Steidle, Asia-Pacific Regional Head for Group Government Affairs with HSBC, in Phnom Penh

While receiving Magesvaran Surajan, President of Asia Pacific Selling and Market Operations of the US’s Procter & Gamble (P&G) Company, PM Phuc highly evaluated the group’s business activities in Vietnam as well as its practical support and active participation in APEC events in 2017. He asked P&G to continue long-term investment in Vietnam so as to help bolster the country’s economic ties with the US.

At a meeting with Linda Seah, Vice President of Ireland’s Shire Plc, PM Phuc hailed the group’s application of high technology in medical treatment in Vietnam. He also welcomed Shire Plc’s plan to expand its operations in the country in the time ahead.

The Vietnamese leader also met with Doreen Steidle, Asia-Pacific Regional Head for Group Government Affairs with the UK’s HSBC, where he said the bank’s financial and banking services have helped improve competitiveness of Vietnam’s credit-banking system. He called on HSBC to cooperate with commercial banks of Vietnam to expand their overseas activities.

Talking with Vice President of the US’s GE group Christian Bennett, PM Phuc applauded the firm’s investment expansion plan in Vietnam and its cooperation with Vietnamese partners in energy development. The PM also expressed his hope that GE will actively support activities within the APEC Year 2017 in Vietnam.

VNA