US firms appreciate Vietnam’s investment environment
Updated : Thursday, July 12, 2018 3:20 PM (GMT+0700)

Vietnam’sbusiness environment has been improved significantly, especially thecompetitiveness, said US businesses from the US-ASEAN Business Council(USABC).

 
US businesses' representatives from the US-ASEAN Business Council and Vietnamese
participants at the meeting - Source: baochinhphu.vn

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

The American enterprisesalso affirmed their commitment to abiding by the laws of Vietnam, and fullyimplementing social responsibility and community activities.

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

While appreciating USinvestors’ investment in various fields in Vietnam, including the agriculturalsector, Dung said, the foreign direct investment (FDI) attraction toagriculture plays an important role in boosting the production of agriculturalcommodities and increasing competitiveness for Vietnamese farm produce.

Vietnam is activelyimproving its business environment, fine-tuning its institutions and promotingadministrative reform as well as enhancing its competitiveness to continue tobe an attractive investment destination for both local and foreign businesscommunities, including those from the US, he stressed

Recently, the VietnameseGovernment has issued a number of mechanisms and policies to removedifficulties and obstacles, aiming to lure more domestic and foreign investmentin agriculture and rural areas, including amending the Law on TechnologyTransfer (2017), and issuing Decree 57/2018/ND-CP on mechanisms and policies toattract investment in agricultural and rural development, Dung said.

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

The Vietnamese Government isalways 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 therecommendations of enterprises at http://doanhnghiep.chinhphu.vn onthe Government Information Portal, which enables businesses to submit theirproposals directly on the system. 

In addition, the GovernmentOffice has frequently held meetings with enterprises and business associationsto listen to their feedback and suggestions related to the implementation ofmechanisms, policies, and administrative procedures.

Michael Michalak, Senior VicePresident and Regional Managing Director of USABC, said Vietnam is anattractive investment destination and many US firms have been successfullyoperated in the country. 

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

Source:VNA

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