The government will continue to accompany foreign investors to help them achieve their goal and contribute to Vietnam’s socio-economic development, Prime Minister Pham Minh Chinh said at his meeting with foreign investors in Hanoi on April 22.

Chinh reiterated Vietnam’s consistent policy of considering the foreign-invested economic sector (the FDI sector) an important component of the national economy, and creating conditions for it to develop and compete on a fair and equal footing with other economic sectors.

“The State respects and protects the investors’ legitimate rights and interests, and ensures the harmonization of interests between the State, investors and employees. It does not criminalize economic and civil relations, but strictly handles those who violate the law according to regulations….” he assured the investors.

Besides positive gains, the PM pointed out several weaknesses the FDI sector should address to meet development requirements and expectations of both sides.

He asked the delegates to clearly identify bottlenecks, difficulties, and obstacles, as well as opportunities, advantages, and solutions in an effort to improve the efficiency of foreign investment in Vietnam amid global uncertainties.

According to the government leader, relevant Vietnamese agencies have recently conducted surveys and examined business proposals to implement specific measures related to the reduction, extension, and exemption of taxes, fees, charges, and land rent for businesses.

The government is drastically directing the State Bank to adopt monetary policies in the next few days on debt freezing, reduction, rescheduling, and extension to iron out business snags.

“All obstacles can be solved, all challenges can be overcome, and benefits can be obtained if we sincerely and responsibly listen to, trust and accompany each other,” he told the investors.

The PM asked relevant ministries, agencies and localities to respond to the investors’ recommendations and have specific solutions, adding issues that cannot be resolved immediately must be carefully examined, proactively resolved or reported to competent authorities for timely, flexible and effective handling.

With regard to the coming enforcement of the global minimum tax policy slated for 2024, the PM said Vietnam would introduce incentives to support businesses on the basis that these incentives are not contrary to international regulations and commitments, in order to harmonize interests between the parties and ensure equality between businesses.

He revealed that right after the conference, the government would issue a document detailing the implementation of solutions.

Statistics show Vietnam attracted US$5.44 billion in the first quarter this year, representing a year-on-year fall of 38.8%. The number of FDI projects rose 13.5% to 1,459, showing these are small-scale projects.

VOV