Commitments to protect foreign investors announced at Conference on Asia future

Permanent Deputy PM Truong Hoa Binh (R) at the Conference on the Future of Asia, Tokyo, Japan, June 11, 2018. Photo: VGP

Permanent Deputy PM Truong Hoa Binh made the statement while addressing the Conference on the Future of Asia in Japan on Monday.

The Government of Viet Nam will continue improving legal system and investment-related policies in a consistent, transparent, open, and predictive manner, Deputy PM Binh said.

The Government will also double efforts in improving law enforcement capacity and enhance real dialogues with investors to remove obstacles against them, he added.

He highlighted significant progresses Viet Nam has made over the past three decades thanks to the introduction of reform process, open-door policy, and foreign policy of openness and diversification and multi-lateralization of international relations.

The country’s economy expanded 6.6% on average over the reviewed period and the GDP increased to US$220 billion last year and is expected to reach US$ 300 billion by 2020.

Trade value between Viet Nam and the rest of the world stood at US$425 billion while foreign reserves rose to US$60 billion. Investors from 127 countries have pledged to pour US$325 billion in Viet Nam so far.

Last year, Viet Nam’s business environment index jumped 14 places to 68^th out of 190 economies, according to the World Bank. The competitiveness index ranked 55^th out of 137 economies as reported by the World Economic Forum.

The country’s economic outlook moved from “stable” to “positive”, according to ratings organizations, including Moody’s and Fitch, said Deputy PM Binh./.

By Quang Minh