Vietnam’s attractive business environment facilitates more US investments

The view was shared at a roundtable discussion on investment policies with the presence of Vietnam’s Minister and Head of the Government Office Mai Tien Dung, former US Assistant Secretary of State and current President of the Asia Group Kurt Campbell, along with other US major corporations’ executives in Washington (local time) on April 10. 



Campbell said Asia Group and other US companies want to know more about Vietnam’s investment environment and policies, as well as the country’s development strategy. 



Representative of VISA highly regarded Vietnam’s effort in promoting e-payment, adding the company would continue to work with local companies in realizing this vision. 



At the conference, Minister Dung said Vietnam’s GDP growth reached a 10-year high of 7.08% in 2018, while the government fulfilled 12 economic development goals, of which nine exceeded the targets. 



According to Dung, the US – Vietnam relationship has progressed comprehensively over the past few years. Evidently, the bilateral trade turnover has maintained steady growth, reaching US$60.28 billion in 2018, up 18% year-on-year. 



Additionally, Vietnam has created favorable conditions for US enterprises doing businesses in Vietnam, including the renewal of investment license for the US$4.2-billion Ho Tram casino resort project with the joining of equity firm Warburg Pincus. The government has also approved the participation of AES Corporation in Son My LNG terminal project in the central province of Binh Thuan. 



In the time to come, the Vietnamese government would focus on three major directions, Dung added. 



Firstly, it will focus on improving efficiency of legal framework and state governance, stabilizing macro-economy in a sustainable manner. 



Secondly, the government will develop a digital economy with the focus on priority sectors, including high-tech agriculture, tourism, logistics and supporting industries, among others. 



Thirdly, it will keep reforming tax policies for greater economic competitiveness, aiming for transparency, fairness and efficiency.