VOV.VN - Prime Minister Pham Minh Chinh has asked the FDI business community, foreign investors and partners to focus on three “pioneer" areas and three “acceleration” ones in green growth at a meeting with FDI enterprises and the annual Vietnam Business Forum (VBF 2004) themed “FDI enterprises pioneer in green growth strategies” held in Hanoi on March 19.
Prime Minister Pham Minh Chinh and delegates attend the event
VBF is a continuous and close dialogue mechanism between the Government and the business community to improve the necessary business conditions in order to further spur the development of the private business sector and facilitate the investment environment as a means of contributing to sustainable Vietnamese economic growth.
At the forum, IFC leaders assessed that the FDI is important for the nation and it should not be at the expense of the environment, but must be associated with responsibility, society, and sustainable growth.
IFC plays an important role in promoting sustainable and green growth. Indeed, the IFC's sustainable banking network and green standards applied in ASEAN create green opportunities, thereby helping the nation to realise its green growth strategy.
Nitin Kapoor, co-chair of the VBF, assessed that this is a pivotal event that demonstrates the determination of businesses to boost development in the nation, which is one of the fastest growing economies in the world. In line with this, green growth plays an important role for the nation, he added.
Upon addressing the event, PM Chinh thanked the international community, investors, and FDI enterprises for always accompanying and helping the country during difficult times and in the national cause of economic development.
The Government leader highly appreciated intellectual and responsible comments that speak frankly about what has been well done, what still needs to be overcome, subjective and objective causes, and solutions for further Vietnamese economic development.
He requested that the Ministry of Planning and Investment, relevant ministries, and sectors seriously accept these comments to build a Prime Minister's Directive on green growth.
PM Chinh therefore pointed out "3 mutual things". First, mutual listening and understanding between businesses, the State, and the people; second, a shared vision and action for economic development and green growth; third, working together, enjoying together, winning together, and developing together.
He also raised difficulties affecting the current Vietnamese economic situation as it is a developing country with its economy being in transition. The scale of the economy remains modest and its resilience to external shocks remains limited.
Prime Minister Pham Minh Chinh speaks at the event
Although the situation has faced plenty of difficulties, there are also advantages as many reputable international organisations highly appreciate the country’s economic prospects.
Accordingly, ADB forecasts Vietnamese growth in 2024 to be at 6%, HSBC Bank at 6.3%, Standard Chartered Bank at 6.7%, and S&P at 6.8%.
Vietnam believes that FDI enterprises, international partners, and friends will always support and work hand in hand with the nation for the case of further development, PM Chinh emphasized.
The country has so far maintained diplomatic relations with more than 193 countries globally, including comprehensive strategic partnerships or strategic partnerships with all five permanent countries of the UN Security Council, seen G7 member states, 16 G20 members, and signed 16 free trade agreements (FTAs) with more than 60 countries.
Despite the global FDI trend declining, the nation remains a bright spot in terms of FDI attraction, with last year’s FDI attraction reaching nearly US$36.6 billion, an increase of 32.1% and realized FDI capital hitting close to US$23.2 billion, a rise of 3.5%.
As of the end of February there are currently over 39,500 valid FDI projects, with a total investment capital of over US$473 billion.
There are 145 countries and territories investing in the Vietnamese market. Along with that, Vietnam also expanded Vietnamese investment abroad and has started to reap benefits.
Most notably, the business investment environment is constantly improving, with the business environment ranking moving up 12 places by 2023 according to the Economist Magazine of the Economist Intelligence Unit (EIU).
The global innovation index was raised, ranked 46 out of 132, up two places compared to 2022 according to the World Intellectual Property Organization (WIPO)'s assessment. The Vietnamese national brand value has also recorded the fastest growth rate in the world.
The FDI sector has made important contributions to improving the overall quality of the Vietnamese economy. It is an important driving force contributing to promoting innovation, whilst improving the quality of domestic law, mechanisms, and policies.
However, the cabinet leader pointed out several shortcomings and limitations for the FDI sector when the investment quality, technology level, and technology transfer in some projects remains limited. The localisation rate is still low and the connectivity between the domestic business sector and the FDI sector remains ineffective.
Additionally, the number and scale of investment projects in high, green, clean, and environmentally friendly technology is still modest.
Regarding the overall goal of the year, the PM underlined rapid and sustainable development, giving priority to promoting growth associated with maintaining macroeconomic stability, controlling inflation, and ensuring major balances of the economy. The focus is also on improving the business investment environment, ensuring social security, and improving people's lives; maintaining socio political stability; strengthening national defence and security; promoting foreign affairs and international integration; and maintaining a peaceful and stable environment for national development.
The PM suggested that the FDI business community, foreign investors, and development partners with the two phrases of "3 pioneers" and "3 accelerations", which is calling for and wishing FDI businesses are a pioneer in green growth. Firstly, pioneering innovation in awareness, thinking, and action in green growth.
Secondly, pioneering in technology transfer, the application of science and technology, achievements in Industry 4.0, and promoting innovation to serve green growth.
Thirdly, pioneering in carrying out specific projects, plans, and action programmes to serve green growth; aimed at renewing traditional growth drivers such as investment, exports, and consumption; along with adding new growth drivers such as digital transformation, green transformation, circular economy, sharing economy, and knowledge-based economy.
For development partners, PM Chinh emphasized "3 boosters", namely promoting co-operation, sharing experience, management, and policy consultation for the nation with a focus on priority areas such as green transformation, digital transformation, and intensifying financial and technical support for the country.
He clearly stated that the nation has "3 guarantees": The first is to ensure the legal and legitimate rights and interests of businesses in general and FDI enterprises in particular, ensuring stability and development of FDI enterprises in the direction of green growth. The second is to ensure independence, sovereignty, territorial integrity, political stability, social order, and safety so that investors can feel secure in doing long-term business. Thirdly is to ensure energy stability, green transformation, digital transformation, green transformation ecosystem, and digital economic development.
In the spirit of win-win co-operation and "harmonious benefits, shared risks", the PM said that this forum is for the benefit of both sides, for the goals of peace, co-operation, and development.
On this occasion, under the witness of PM Chinh, Minister Nguyen Chi Dung presented Certificates of Merit from the Ministry of Planning and Investment to a number of outstanding FDI enterprises.
