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The Advantages of Investing into Vietnam

Phát biểu của Thủ tướng Nguyễn Tấn Dũng tại phiên khai mạc WEF Đông Á 2014

A speech from Mr. Nguyen Tan Dung, the Primer Minister of Vietnam at the World Economic Forum on East Asia 2014: “Attracting foreign direct investment (FDI) has always been a key part of Vietnam’s external economic affairs. Vietnam already has many comparative advantages and a strong investment climate, and we are now trying our best to become more appealing to foreign investors. We are doing so by vigorously renovating the business and investment climate as well as recognizing the FDI sector as an integral part of the economy. This is essential for restructuring the economy and raising national competitiveness.”

Regarding the advantages of investment in Vietnam, we would like to present some main points:

First, Vietnam has a stable political system and a dynamic economy. The average economic growth is 7.5% for over two decades. In 2012 and 2013, despite of global economic crisis, the rate is still over 5%. That attracts foreign investors, who expect to run a fast and stable development business when investing in Vietnam.

Second, Vietnam has a golden population structure with 60% of its population are in working age. Moreover, Vietnamese labor force is famous for its young, hardworking, highly literate and easy to train that create a strong comparative advantage for Vietnam. Foreign companies will not have to pay great effort to recruit excellent employees with very low labor cost compared to other countries such as Singapore, Malaysia, Indonesia or even China.

Third, Vietnamese government always commits to create a fair and attractive business environment for foreign Investors by simplifying all legal procedure, tax reduction, and land rental reduction. All such efforts are what attract foreign investors, which makes Vietnam become their first priority whenever they think of investment abroad.

Last but not least, with a population of more than 90 million, Vietnam is a potential market for many companies in the world. GDP growth is increasing day by day, which promises huge improvement of consumption from Vietnamese people.

In Vietnam, we recognize that the FDI sector is an integral part of the economy – which is essential for restructuring the economy and raising national competitiveness. Therefore, we are honored to welcome foreign investors from all over the world to Vietnam and we can both create a win-win relationship.

(Source: thethaovanhoa.vn)

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