Investors’ interests to be guaranteed in Vietnam

Vietnam will do its utmost to ensure foreign investors’ security and safety in the country, Phuc told a trade promotion conference in Ha Giang province on May 16.

He made the commitment following a number of rallies recently staged by workers in industrial parks in the south protesting against China’s illegal placement of its giant oil rig Ocean-981 in Vietnam’s exclusive economic zone and continental shelf.

Several extremists incited workers to damage properties of companies, affecting production and workers’ living conditions themselves. The government, ministries, agencies and localities made immediate intervention to stabilise the situation. 

“…..Our task is to firmly defend our sovereignty and territorial territory, but we have to follow Vietnamese law, and international practice, and protect investors’ legitimate rights”, Phuc said.

Themed “Our Potential - your opportunity”, the conference aimed to introduce Ha Giang’s investment opportunities to domestic and international partners and investors.

Deputy PM Phuc proposed that the province continue to finalise its socio-economic development planning, boost administrative reform, and increase the effectiveness and efficiency of State management, and improve the investment environment.

Secretary of the provincial Party Committee Trieu Tai Vinh said to attract foreign investment, the province has set up investment promotion counseling centers and an official (ODA)  mobilisation board, responsible for attracting ODA from NGOs. It has also introduced a number of incentives on land use, water and power supplies, while simplifying administrative procedures.

At the conference, Ha Giang called for investment in tourism, services, agro-forestry development, border economy, and processing industry development.

The province granted investment licenses to 9 projects, and signed 6 memorandum of understanding (MoU) on cooperation and investment with businesses.