US firms appreciate Vietnam’s investment environment

US firms appreciate Vietnam’s investment environment

During a meeting with Minister, Chairman of the Office of the Government Mai Tien Dung in Hanoi on July 11, the USABC delegation showed the desire to invest or expand investment in Vietnam in animal feed production and distribution, food processing, production of veterinary medicine and plant protection products.

The American enterprises also affirmed their commitment to abiding by the laws of Vietnam, and fully implementing social responsibility and community activities.

Minister Dung said the Vietnamese Government is calling for foreign investment in hi-tech agriculture, and encouraging international enterprises to enhance links with local firms and people in developing the closed value chains.

While appreciating US investors’ investment in various fields in Vietnam, including the agricultural sector, Dung said, the foreign direct investment (FDI) attraction to agriculture plays an important role in boosting the production of agricultural commodities and increasing competitiveness for Vietnamese farm produce.

Vietnam is actively improving its business environment, fine-tuning its institutions and promoting administrative reform as well as enhancing its competitiveness to continue to be an attractive investment destination for both local and foreign business communities, including those from the US, he stressed.

Recently, the Vietnamese Government has issued a number of mechanisms and policies to remove difficulties and obstacles, aiming to lure more domestic and foreign investment in agriculture and rural areas, including amending the Law on Technology Transfer (2017), and issuing Decree 57/2018/ND-CP on mechanisms and policies to attract investment in agricultural and rural development, Dung said.

He revealed that the working group of the Prime Minister will inspect 17 ministries regarding the implementation of directions and tasks assigned by the Government and the Prime Minister related to the specialised inspection of import and export goods and the simplification and reduction of business conditions.

The Vietnamese Government is always willing to listen to opinions of business communities, he stressed.

According to the minister, the Government Office has built a system for receiving and responding to the recommendations of enterprises at doanhnghiep.chinhphu.vn on the Government Information Portal, which enables businesses to submit their proposals directly on the system.

In addition, the Government Office has frequently held meetings with enterprises and business associations to listen to their feedback and suggestions related to the implementation of mechanisms, policies, and administrative procedures.

Michael Michalak, Senior Vice President and Regional Managing Director of USABC, said Vietnam is an attractive investment destination and many US firms have been successfully operated in the country.

US firms took the occasion to thank the Vietnamese Government and authorities for creating favourable conditions for them to expand production and distribution networks in Vietnam.