foreign direct investment (FDI) has always been a key part of Vietnam’s
external economic affairs. Vietnam already has many comparative advantages and
a strong investment climate, but we are working hard to become even more
appealing to foreign investors. We are doing so by vigorously renovating the
business and investment climate, and by recognizing that the FDI sector is an
integral part of the economy – essential to restructuring the economy and
raising national competitiveness.
Vietnamese government is continuing to revitalize its business and investment
climate. One way it is doing this is its work on three “strategic
breakthroughs”: putting in place market economy institutions and a legal
framework; building an advanced and integrated infrastructure, particularly
transport; and developing a quality workforce. These should all be completed by
government remains determined to fulfil it’s the rest of treaty obligations
like TPP. Vietnam views the success of FDI enterprises as its own success. As
such, the government is committed to ensuring a stable socio-political
environment, protecting the legitimate rights and interests of investors, and
creating an enabling environment for FDI enterprises in the country.
the medium and long term, Vietnam will continue in its efforts to attract and
efficiently use FDI inflows to advance socio-economic development. The country
will target “high quality” FDI inflows, focusing on FDI projects that use
advanced and environmentally friendly technologies, and use natural resources
in a sustainable way. It will also target projects with competitive products
that could be part of the global production network and value chain.
the government has adopted major measures to implement the country's 2016
socio-economic development plan and state budget.
Resolution No.1 issued recently by the government has laid down some key
objectives for this year, as follows: Gross domestic product (GDP) grows 6.7
per cent; export turnover increases by 10 per cent; import surplus ratio
against exports is under 5 per cent; consumer price index grows less than 5 per
cent; total development investment is about 31 per cent of the GDP; the
percentage of multi-dimensional poor household rate reduces to between 1.3 per
cent to 1.5 per cent and health insurance coverage nationwide is about 76 per
all key duties, the maintaining macroeconomic stability while controlling
inflation is vital. To ensure this objective is achievable, the government has
asked all government agencies, people's committees and organisations nationwide
to pull efforts to carry out their assigned tasks at a high level.
the government has asked the State Bank of Viet Nam to work closely with
ministries and central and local government agencies to come up with proactive
monetary and fiscal policies to put inflation under the control and stabilise
the macro economy so that Viet Nam will achieve a rational economic development
achieve these targets, the Government Resolution has asked the State Bank of
Viet Nam to implement all monetary tools and policies to stabilise the foreign
currency market in line with the development of the national macroeconomy as
well as the financial and monetary market inside and outside Viet Nam.
the pro-active fiscal policy always plays an important role. Therefore, the
government has asked the Ministry of Finance to co-ordinate with ministries and
central and local governments to develop a pro-active national budget for 2016.
Resolution has also listed some key measures to help achieve the national
budget target. One of the measures is to strictly implement the Tax Law and state
budget collection missions.
2016, Viet Nam vows to strictly control public debt, government debt as well as
foreign debt as written in the National Assembly Resolution,' the document
achieve these targets, the Ministry of Planning and Investment (MPI) is
instructed to come up with high quality and feasible policies in line with
economic development inside and outside Viet Nam while closely monitoring the
world crude oil price development.
Government Resolution lists three key areas for the national economic
restructuring, namely public investment; State economic groups/corporations;
State Commercial banks and credit organisations. However, public investment is
the core. The MPI will work closely with other ministries and government
agencies to monitor and supervise the use of Official Development Aid (ODA),
preferential loans from foreign donors, plus the State development investment
credits and others in all public investment projects.
State investment credits are designated to invest only in important and urgent
projects having a big impact on the country's socioeconomic development.
document also emphasises the need to mobilise other capital resources in the
construction of essential infrastructure socio-economic projects by combining
various methods like public-private partnership, foreign direct investment,
joint venture and others.
promotion is also specially emphasized. The Resolution calls on the Ministry of
Industry and Trade (MOIT) to work out policies to diversify import markets to
avoid heavy dependence on a certain market while taking measures to promote
exports in a sustainable manner.
MOIT should adopt effective measures to increase exports to potential markets,
particularly commodities with high value added and high export turnover,' the
Government Resolution says.
document also lays emphasis on the effective use of trade protective measures
as regulated by the World Trade Organisation in restrictions on imports and protecting
IT application is necessary. The Ministry of Home Affairs and central and local
government agencies are asked to strictly implement the country's Master
Programme on Public Administrative Reform in the 2011-20 period and the
Government's Plan on Administrative Reform from 2016-2020.
Government's Resolution asks all central and local government agencies and
organisations to apply IT in their public services, particularly the
Government's Resolution 36a on IT application.
In term of corruption prevention, all ministries
and central and local agencies have to strictly implement rules and regulations
on the prevention and combating of corrupt activities, particularly the
regulation that public officials have to make reports on their income and