APEC forum aims for better investment climate

July 17, 2012 | 09:09

(0) user say

Leading economists and senior officials from the Asia-Pacific region gathered at a dialogue forum on Ho Chi Minh City on July 16 to discuss the investment polices and business environment in Vietnam.

The event was part of the 2012 Asia-Pacific Economic Cooperation (APEC) forum, leading up to the APEC Summit scheduled for Russia in September.

Domestic businesses voiced their concerns about Vietnam’s incentive policies for foreign investors, putting domestic businesses at a disadvantage in competition.

Foreign delegates worried about unfair competition if the State issues preferential regulations for domestic businesses.

They called for more support from the Vietnamese Government, stressing the need to increase the competitive capacity of local companies in the current context of global economic integration.

Hoang Van Dung, Chairman of Vietnam’s APEC Business Advisory Council (ABAC Vietnam), highly valued the participants’ opinions, saying these will help the Vietnamese Government improve the business climate.

He also touched upon other important issues such as financial transparency, human resources development, and fair competition.

*** The third APEC Business Advisory Council (ABAC) meeting opened in HCM City later the same day.

Addressing the opening ceremony, State President Truong Tan Sang affirmed Vietnam’s contributions to boosting the Trans-Pacific Partnerships (TPPs) agreement, and committed to opening up the market towards the global trend of trade liberalization.

He voiced strong support for APEC’s leading role in promoting free trade areas and boosting investment, while ensuring peace and security in the region and the world.

Participants at the three-day event will focus discussions on technology transfer, infrastructure and green development, as well as global economic integration.

VOV

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional