Headlines 29/11/2023 11:04 SA

Tasks of implementing 3 commitments of Vietnam to foreign investors

Tiến Thịnh

On November 22, 2023, the Office of the Government of Vietnam promulgated Notification No. 480/TB-VPCP on the conclusion of the Prime Minister of Vietnam at the Meeting of the Prime Minister of Vietnam with the Foreign Investment Enterprise Community, which commits to accompany foreign investors.

According to the Notification, the Prime Minister of Vietnam reiterates Vietnam's 3 commitments to foreign investors, including:

- To always protect legitimate and legal rights and benefits of investors in any case.

- To always accompany enterprises and investors to overcome difficulties and challenges and utilize opportunities and advantages to ensure benefits and stable, long-term, and effective operations in Vietnam based on the principle of shared risks and harmonious benefits.

- To not criminalize economic and civil relations but handle those who do wrong and violate laws to protect those who are right and create a public, transparent, equal, healthy, and sustainable environment and ecosystem for production and business for investors.

For the implementation of the above commitments, the Prime Minister of Vietnam requests ministries, central authorities, and departments to:

- Continue to strictly and effectively implement guidelines and directions of the CPV and policies of laws of the State.

- Continue to review, amend, supplement, and complete policies on foreign investment cooperation in conformity with actual situations with high competitiveness, international integration, and conformity with directions, planning, and requirements for the development of Vietnam, especially in emerging industries such as digital transformation, green transformation, circular economy, sharing economy, production of semiconductors and chips, etc.;

- Continue to accelerate the development of strategic infrastructures, especially traffic infrastructures, to reduce logistics and product costs, increase competitiveness, etc.

- Proactively develop plans for training and advanced training for the improvement of the quality of human resources, especially high-quality personnel within their jurisdiction.

- Improve administrative procedures for improving the business environment

- Effectively implement solutions to debt restructuring, debt deferral, exemption or reduction of interests; deferral, exemption, and reduction of tax, fees, and land rents, etc., during difficult circumstances.

- Promote cooperation in public-private partnership cooperation, access, and effective use of every resource for development and use public investment to guide and activate every social resource that contains foreign investment.  

- Grasp the situations, especially fiscal policies, currencies, and realistic forecasts, to have appropriate, flexible, and timely policies and responses and create favorable conditions for foreign investors.

See more details in Notification No. 480/TB-VPCP dated November 22, 2023.


Above are the summary and notification of new documents for customers of THU VIEN PHAP LUAT. For more information, please send an email to info@thuvienphapluat.vn.


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