This morning in Hanoi, within the framework of the Supporting and Connecting Businesses program sponsored by the Ministry of Planning and Investment, KPMG in Vietnam (KPMG) and Vietnam Association of Foreign Invested Enterprises (VAFIE) facilitated the successful seminar “Dialogue on 2016 Investment Policy”, in which leaders and representatives from more than 180 government offices, domestic and foreign enterprises participated.
The seminar provided an update on the economy of Vietnam over the first half of 2016, an overview of developments over the coming years with an open-economy and a dialogue on investment policies and reform of the legal framework needed to improve the business and investing environment in Vietnam.
In the dialogue on the “Vietnamese economy 2016 and development direction in an open-economy context”, the Minister of Planning and Investment, Nguyen Chi Dung, emphasized that in the first half of 2016, Vietnam’s macro economic environment has stabilized but was not successfully sustained, and the growth rate was still lower than expected. In order to achieve 2016 goals, all parties including the Government, enterprises and the society at large will need to spend more efforts for the rest of 2016. He believes that the successful implementation of the Government’s Resolution No.19 and Resolution No.35 will be an important motivation to boost the economy in the coming time.
The Minister also remarked that as Vietnam integrated deeper into the global trade and further expanded markets, there were always opportunities and challenges. To fully take advantage of opportunities and overcome challenges, businesses in Vietnam need to improve their competitiveness as well as further enhance cooperation.
The seminar also included a panel discussion, where representatives from the Ministry of Planning and Investment, the General Department of Taxation, economic experts and business leaders discussed, among other topics, the guidelines on the implementation of Investment Law and Business Law 2014, the new Vietnamese tax policies, and shared opinions and solutions to attract foreign investors.
Co-host Prof. Sc.Dr. Nguyen Mai – Chairman of VAFIE – remarked: “In light of the unpredictable nature of the world economy and certain issues within domestic macroeconomic environment, we must carefully take into account and implement Resolution No.19 issued on 28 April 2016, which states the mission and solutions to improve the business environment, and enhance national competitiveness in 2016-2017, with vision toward 2020.”
Mr. Warrick Cleine – Chairman and CEO of KPMG in Vietnam and Cambodia stated: “Recent efforts of the government and related departments in improving the investment environment are making positive impacts to boost the competiveness and total production capacity of the economy in Vietnam. With the global economic growth, the domestic economy remaining stable and the tightened relationships with important partners in the world, including the integrations into the Trans-Pacific Partnership, the EU-Vietnam Free Trade Agreement and the ASEAN Economic Community, Vietnam is improving the country’s competitiveness and becoming an attractive destination for foreign investors”.
The Minister of Planning and Investment, Nguyen Chi Dung, also noted his appreciation for VAFIE and KPMG for ensuring the success of the seminar. The aim of the seminar was to create an open forum for business leaders, associations and authority offices to discuss the investment policies and potential solutions to support businesses, to improve the economic environment and to inspire confidence and good will for both domestic and foreign investors. “The Dialogue on 2016 Investment Policy seminar was held at the right time, when the Government is trying to complete and promulgate several new policies and resolutions, as well as implement Resolutions No. 19 and No. 35 on administration reform, improving the business environment for investment and business support.”, he said.