NA Chairman promises favourable conditions for investment, business activities

NA Chairman Vuong Dinh Hue speaks at the event. (Source: VNA)

Hanoi – The Vietnamese National Assembly will create favourable conditions for local and foreign businesses in all economic sectors to invest and do business in the country, said NA Chairman Vuong Dinh Hue at an online working session with a high-ranking business delegation from the US-ASEAN Business Council (USABC) on September 30.

The working session was held under the chair of the top legislator at the request of the USABC.

Hue affirmed that Vietnam will continue to focus on improving the business and investment environment, and national competitiveness, thus facilitating business and investment activities in the country in the coming time.

US businesses appreciated the efforts and measures that the Vietnamese Government is taking to protect people against the COVID-19 pandemic, saying that they support Vietnam’s current dialogue methods to safely resume business activities.

They also expressed interest in Vietnam’s policies to encourage the application of scientific solutions in agriculture development, and promote investment, especially foreign investment, in clean energy development in the country.

Highlighting the impacts of the pandemic such as disruption of supply chains and rising material prices, representatives from many US firms hoped that Vietnam will adopt policies to support businesses such as reducing tax and fees and extending tax and fee payment deadlines, as well as considering not to increase taxes.

NA Chairman Hue emphasized that one of the main driving forces for Vietnam's growth in the time ahead is the application of science, technology and innovation with a focus on the human factor.

The Vietnamese NA attaches important to developing an ecosystem for innovation in the country, he said, expressing his hope that US businesses as well as the USABC will continue to support Vietnam in promoting and building an innovation ecosystem, especially digital transformation.

Regarding the difficulties faced by the business community in Vietnam, NA Chairman Hue said the NA and the Government have issued policies to support businesses, not only by reducing or exempting taxes and fees but also providing support to those that are suffering a loss or having difficulties in money flows in the coming time.

Senior Vice President and Regional Managing Director of the USABC Michael Michalak affirmed his support for Vietnam’s efforts so far, saying that this dialogue has opened up a new opportunity for developing cooperative relations between the council and agencies of the Vietnamese NA.

He said the USABC is ready to discuss and appoint a permanent section for the cooperation with the Vietnamese legislative body, and it will also work with agencies of the US Congress to further strengthen cooperation between the two sides.