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Vietnam Today

PM meets 21 leading global companies

Released at: 09:28, 13/05/2017

PM meets 21 leading global companies

PM Nguyen Xuan Phuc (R) meets world businesses in Phnom Penh. Photo: VGP

Vietnam strongly encourages private sector as important driving force in domestic economy, PM tells representatives from businesses at WEF ASEAN meeting.

by Uy Vu

Speaking at a meeting on May 12 with representatives from 21 of the world’s leading companies from the US, Canada, Japan, South Korea, the UK, Switzerland, Singapore, and Hong Kong (China) at the 26th World Economic Forum on ASEAN (WEF ASEAN) in Phnom Penh, Cambodia, Prime Minister Nguyen Xuan Phuc reaffirmed that his government will continue to create favorable conditions for foreign enterprises to make investments in Vietnam and protect their intellectual property and asset rights.

Quoted by the Vietnam News Agency, the PM said that doing business in Vietnam will give foreign investors access not only to a market with 93 million people but also the greater market of ASEAN and the world, as the country has signed 12 free trade agreements and is pushing ahead with negotiations over four other pacts.

He told the audience that Vietnam’s renewal process and open policies have helped domestic and foreign businesses reap success in the country. 

WEF Managing Director Philipp Roesler described the Mekong River region, including Vietnam, as a dynamic area with a young population and urged enterprises to invest in the region and create more jobs for young people. 

Participating entrepreneurs recognized Vietnam’s great determination and efforts to reform and improve its business and investment environment as well as the government’s support for the foreign business community.

PM Phuc attended a talk on Vietnam on the same day held by the WEF and VinaCapital, during which he said Vietnam is striving to realize an average growth target of 6.5-7 per cent from now to 2020.

It will push ahead with improvements in market economy institutions and strongly encourage the development of the private sector to become an important driving force in the domestic economy, he said.

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