He was speaking in Ho Chi Minh City on the sidelines of the Vietnam Summit 2016 set to open on November 3.

The PM also told representatives of global financial institutes and businesses both inside and outside the country that he hopes the summit will help them learn more about the development and integration policies and strategies of Vietnam.

He wishes that the summit helps businesses find more investment and cooperation opportunities in the country.

Vietnam has recorded many great achievements in 30 years of renewal, he said. The country’s GDP topped 200 million USD in 2015 and its per capita income was around 2,100 USD.

The country has actively speeded up its international process and contributed to the building of the ASEAN Community. It has signed and joined 14 free trade agreements, Phuc said.

To keep up with global economic development trends, Vietnam was restructuring its economy, implementing “breakthrough steps” to renew its growth model, actively integrating and taking part in the global production value chain, and increasing the capacity to raise economic development to new heights, the PM said.


The Government was paying due attention to creating a legal framework in line with market mechanisms and international practices, he added.

Furthermore, he said, Vietnam was actively working to improve its business and investment environment by building infrastructure, development human resources and boosting fair competition to create ideal conditions for enterprises to invest and do business.

The Vietnam Summit 2016 will discuss various issues, including the nation’s position in the global economy, future of the manufacturing sector, rice production, industrial production and the investment environment.

The summit seeks to show international businesses that Vietnam is determined to comprehensively reform its economy over next five years.-VNA