NỘI — Việt Nam is committed to maintaining a stable environment to ensure the
rights and interests of foreign businesses investing in the country, said
Deputy Prime Minister Trương Hòa Bình at the 24th International Conference on
the Future of Asia in Tokyo on Monday.
Prime Minister Trương Hòa Bình makes speech at the 24th International
Conference on the Future of Asia in Tokyo. — Photo baodientuchinhphu.vn
He said the Government would
continue to work on the legal system and policies related to investment in a
consistent and transparent manner. The Government would also strive to
improve law enforcement, strengthening and focusing on solving problems for
According to the deputy PM, the
peaceful environment, co-operation and development had made Asia an economic,
political and cultural centre accounting for 45 per cent of global GDP, which
is expected to rise to 50 per cent by 2025. Asian countries have also become
bigger players in global trade and investment, accounting for around
one-third of international foreign direct investment, import and export
"Openness and co-operation are
key factors for recovery and to create new momentum for economic
growth," the Deputy PM said.
Bình was optimistic about the
future, but warned of potential challenges to the regional and global
He mentioned three major risks.
Firstly, the rising tide of protectionism, increased uncertainty in
powerful countries and tensions in trade relations among the world’s leading
"In a world of tightly
intertwined interests, any escalation of tensions could disrupt the
international financial system, as well as regional and global supply chains.
Policies that go against globalisation, trade and investment liberalisation
could have unpredictable implications. Putting national interests in conflict
with the global interests would undermine confidence and achievements,"
Secondly, with progress in science
and technology, the industrial revolution 4.0 opens up tremendous growth
opportunities but also presents challenges for Asian countries, especially
developing countries. According to the International Labour Organisation,
more than two thirds of workers in the textile and footwear sectors as well
as manufacturing industries in Southeast Asia are threatened by the rapid
application of science and technology.
Thirdly, non-traditional security
issues such as natural disasters, food-water-energy security, epidemics,
maritime security, climate change and the rich-poor divide and social
diversification are challenges for the development of Asian countries. In
order to build a prosperous and stable Asia, environmental protection needs to
be a pillar of development.
Bình said Việt Nam highly valued the
Japanese Government’s efforts to accelerate the conclusion of the
Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
"We hope that Japan, as a
leading economic partner of many Asian economies, will serve as a locomotive
to enhance regional economic integration and connectivity," said Bình.
At the summit, the Deputy PM also
highlighted the important progress that Việt Nam had made over the past three
decades, linked to Asia’s growing status and regional economic integration.
Open, multilateral and diversified foreign policy had helped Việt Nam
overcome difficulties and integrate with the world, he said.
The renewal process had helped the
country to transform and achieve significant socio-economic development. With
an average annual growth rate of 6.6 per cent over the past three decades,
Việt Nam’s GDP soared 35 times to US$220 billion in 2017 and was expected to
reach $300 billion by 2020. In 2017, The country maintained macroeconomic
stability, controlled inflation (at 3.5 per cent), reached a record $425
billion in trade turnover and over $60 billion in foreign exchange reserves.
The country has attracted $325
billion of registered FDI from 127 countries and partners around the world.
In 2017, the country rose 14 places on the global business environment index
to 68/190, according to the World Bank. Việt Nam’s competitiveness index also
rose 5 places to 55/137 on the World Economic Forum’s ranking.
Credit rating agencies such as
Moody’s and Fitch have raised the rating level for Việt Nam’s economy from
"stable" to "positive", and a number of transnational
corporations have chosen Việt Nam to invest in development and connectivity
in the global value chain, said Bình.
The deputy PM said that Việt Nam and
Japan were preparing to celebrate the 45th anniversary of Việt Nam-Japan
Japan is the largest investor in
Việt Nam with total direct investment of more than $9 billion. Two-way trade
reached over $33 billion. The recommendations of the Japanese business
community are always recognised and resolved by the Vietnamese Government,