PM attends Dialogue with ASEAN business representatives

The Dialogue between PM Nguyen Tan Dung and member of the ASEAN Business Club and a number of Malaysian business representatives. Photo: VGP/hat Bac

The event created a chance for ASEAN businesses in general and Malaysian ones in particular and the Vietnamese Government to exchange issues related to mechanisms, policies, and investment opportunities in Viet Nam.

The PM revealed that Viet Nam has jumped into a new development period, with more sustainable macro-economy, higher growth and better control of inflation.

It is estimated that the nation’s GDP growth rate will reach 6.5% in 2015, the highest since 2011 and the total trade turnover will attain US$350 billion this year.

Viet Nam has focused on improving business environment to increase the competitiveness of the economy through synchronous and comprehensive measures, especially economic restructuring in accordance with renewing growth model, accelerating administrative procedures and promoting the socio-economic infrastructure development.

Regarding the economic restructuring, the PM highlighted the top priorities of restructuring of investment, credit, banking system and the State-owned-enterprises.

Business representatives to the dialogue. Photo: VGP/Nhat Bac

Viet Nam’s participation in the ASEAN Economic Community, the EU-Viet Nam Free Trade Agreement and the Trans-Pacific Partnership will make key movements for the nation’s business environment to be suitable with the international principles and standards in the upcoming time.

The amendment of nation’s crucial legal documents in 2015 such as the Law on Investment and the Law on Enterprises will facilitate domestic and foreign investment in the future and create a more transparent investment environment.

At the Dialogue, PM Dung reviewed achievements in the bilateral relations between the two nations over the recent 40 years, affirming that Malaysia has become one of key partners of Viet Nam in terms of investment, trade and tourism.

Malaysia has poured US$11 billion in nearly 500 projects in Viet Nam, ranking eight among 103 nations and territories investing in Viet Nam.

The two-way trade turnover increased from US$4.1 billion in 2009 to US$8.124 billion in 2014.

He expected that the recently-inked Joint Declaration on the establishment of Strategic Partnership relations between Viet Nam and Malaysia will upgrade the political relationship to a higher level and facilitate and contribute to the success of the two sides’ businesses.

The Vietnamese Government welcomes and create favorable conditions for investors in ASEAN and other nations to seek for long-term and effective operation in Viet Nam, he affirmed.