VN pledges new incentives for foreign investors

VGP – Though meeting with an array of economic difficulties, Việt Nam has still attracted special attention from the Japanese business community and will introduce more policies to increase the number of Japanese investors in the country, asserted Minister of Planning and Investment Võ Hồng Phúc.

May 31, 2011 7:41 AM GMT+7

The Vietnamese Government would speed up the law amendment process in order to offer specific incentives to investors, says Minister of Planning and Investment Võ Hồng Phúc, Tokyo, May 31, 2011 – Photo: VOV/Việt Dũng

Minister Phúc made the statement yesterday in Tokyo at the fourth joint Japan-Việt Nam Economic Conference, which was hosted by the International Friendship Exchange Council and the Vietnamese Embassy in Japan.

The event also drew the attendance of over 100 Japanese businesspeople who are extremely interested in the business environment in Việt Nam.

The Minister pointed to the fact that Việt Nam is coping with macroeconomic instability, price hikes, widening trade deficit and high budget overspending. However, it is exerting great efforts to rein in inflation and stabilize the macro-economy to bring the economy back on track by 2012.

Mr. Fukuda from the Shinkin Credit Fund said Japanese investors have regarded Việt Nam as one of important destinations in their “China plus 1” strategy in a bid to minimize investment risks they may have in China.

The former Japanese Ambassador to Việt Nam, Norio Hattori, underlined that bilateral trade ties are incommensurate with the two countries’ traditional ties, due to the lack of dissemination of information on investment environment in Việt Nam, especially in hi-tech and subsidiary industries.

Minister Võ Hồng Phúc promised that the Vietnamese Government would speed up the law amendment process in order to offer specific incentives on tax and land to foreign investors, including those from Japan./.

By Kim Anh