Vietnam ready to open its door to foreign enterprises
Deputy Prime Minister Vu Duc Dam affirmed the Vietnamese Government’s readiness to open its door to foreign businesses in his address at the Vietnam Business Summit 2019 held in Hanoi on 16 October.
In his speech, Dam suggested businesses should pay greater attention to infrastructure, finance, banking, land as well as human training.Vietnam’s economic growth was placed second globally as announced by the World Bank, making the nation a destination for numerous enterprises from across the globe. Vietnam stays ready for the fourth industrial revolution and has boosted the application of information technology in a multitude of fields with better information safety and security, Dam said.
According to President of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc, prestigious international organizations are sanguine about Vietnam’s economic growth. Up to 90% of domestic and foreign business community expressed their confidence that Vietnam’s business climate will be improving in the time to come.
As many as 130,000 enterprises were established or resumed operations in the first nine months of this year and 70% of foreign-invested businesses are destined to further expand operations in Vietnam, Loc said.
The Vietnamese Government has successfully launched an action programme to develop an e-government system and build infrastructure facilities for a digital economy.
The information technology adoption index went up 54 places in the World Economic Forum’s rankings 2019 with growing number of mobile phone subscribers and Internet popularity. This bodes well for software production and digital application in economic sectors, thus offering ample opportunities for Vietnamese and foreign investors, the VCCI official said.
During the event attended by more than 800 delegates, participants debated a host of measures to digitalize economic sectors such as finance, agriculture and production.