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Deputy PM: Vietnam prioritizes businesses ready to connect with local partners

Released at: 18:56, 25/02/2017

Deputy PM: Vietnam prioritizes businesses ready to connect with local partners

Deputy Prime Minister Vuong Dinh Hue (right) at the event. Photo: VGP

Deputy Prime Minister Vuong Dinh Hue makes comments at Asia Business Council's 2017 Spring Forum.

by Quoc Uy

At a function for the 2017 Spring Forum held by the Asia Business Council in Ho Chi Minh City on February 23, Deputy Prime Minister Vuong Dinh Hue said that Vietnam prioritizes foreign businesses ready to connect with Vietnamese partners and operate in fields suitable with the country’s economic restructuring.

Mr. Hue, who is also a Politburo member, said that Vietnam welcomes all foreign investors, especially those with high technology and good management skills.

He noted that Vietnam recorded solid economic growth last year, with exports increasing by 9 per cent, while foreign direct investment increased and more than 110,000 new enterprises were established.

He confirmed Vietnam’s consistent policy of actively engaging in the global economy and being a reliable partner of all countries and investors.

Vietnam is working to increase its economic competitiveness and develop more effective, productive, and innovative economic models, he said.

It has transformed its growth model from relying on natural resources, labor, and investment, to creation, productivity, quality and efficiency.

He stressed that the new model aims to no longer sacrifice the environment and social equality for growth targets.

Chairwoman of the Asia Business Council, Ms. Lubna Olayan, said the Council is impressed with Vietnam’s growth over the past five years amid the global economic travails.

She highlighted the country’s determination to promote sustainable economic growth to become a young, dynamic economy with abundant and highly-skilled human resources.

The 2017 Spring Forum took place on February 24-25, focusing on sustainability and creation as investments for the next 50 years.

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