Further Improving Business, Investment Environment for Investors

The conference was a forum for authorities, investors and businesses to exchange dialogues and identify local investment potential, advantages and opportunities in Hai Phong City, thus helping the city to introduce solutions and mechanisms to create an enabling environment for investors and to mobilise resources for local socioeconomic development.

 

At the meeting, Prime Minister Phuc praised Hai Phong City’s achievements in investment attraction. The northern port city drew more than US$2.7 billion of foreign direct investment (FDI) in the year to September 12, over 5 times the value in the same period of 2015, becoming the biggest recipient of FDI in the country. The city successfully called many big domestic and foreign businesses and investors to the locality.

 

Highlighting local advantages, he stressed that the Government appreciated investors for doing business in Hai Phong City in various areas ranging from manufacturing and business to service and tourism. He hoped that investors will deploy modern advanced technologies and equipment nationwide and avoid harming people's living environment.

 

The Prime Minister also praised the city for shifting from a “brown economy” to a "green economy" and relocating shipyards and cement plants out of the city centre to protect the environment for people to lead a better life. He hoped that Hai Phong City will take new socioeconomic steps after this investment promotion conference.

 

 

Investors also expressed their pleasure at the city’s development and showed their surprise at its ways of thinking and action, especially the determination of the entire political system to create more favourable conditions and offer many investment incentives. They affirmed that Hai Phong is a key investment destination and they pledged to speed up investment study, promotion and execution in the city to increase their contributions to local development.

 

At the meeting, the Municipal People’s Committee announced the decision on establishment of the Hai Phong Investment, Trade and Tourism Promotion Centre so as to bridge the municipal government with businesses. In addition, the Hai Phong People’s Committee and the Vietnam Chamber of Commerce and Industry (VCCI) signed a commitment to creating a favourable business environment for enterprises.

 

The conference also witnessed the granting of investment licences and the signing of memorandums of cooperation on investment and credit contracts with a total value of US$12.8 billion, including US$6.6 billion from foreign investors and VND129,978 billion (US$6.2 billion) from domestic investors.

 

On this occasion, Prime Minister Nguyen Xuan Phuc attended the inauguration of VietJet Air’s international flight routes from Cat Bi Airport, Hai Phong City.

 

 

To have these achievements, Hai Phong City must have innovations and reforms, especially forming an open and favourable investment environment to ensure the success of both the city and investors, said Prime Minister Phuc.

 

He affirmed the determination of building an incorruptible government that creates the environment for development and takes drastic action to serve citizens and businesses. The Government will continue to make an effort to ensure macroeconomic stability, control inflation, maintain economic growth, and guarantee political security, social order and safety and will continue to form a more favourable business and investment climate for investors and businesses to rest assured in doing long-term business in Vietnam.

 

“We will do our best to protect legitimate rights and interests of investors and citizens," Prime Minister Phuc stressed, adding that the Government will continue to put a premium on training human resources, including executives and skilful workers. He affirmed that investors can bring foreign executives and skilful workers to Vietnam if they cannot find qualified labourers for vacant positions.

 

He noted that the Government and Hai Phong City see the success of investors as their own success and the failure of investors as their own failure. The Government hopes that, in addition to business, investors essentially pay attention to protecting the environment, using modern equipment and technology and respecting local culture.

“On this occasion, I suggest that investors, both domestic and foreign, must fulfil their commitments rather than place them on the paper,” said the Prime Minister.

 

Also at the meeting, the city leadership vowed to investors to drastically carry out the guidance of the Prime Minister and fundamentally change the thinking, perception and attitude of officials and civil servants. The city is strongly committed to improving the investment and business climate by applying the most favourable and rapidest manner and bringing the highest investment efficiency.