How to improve Vietnam’s business environment and make the country
highly attractive to foreign investment featured high on the agenda at a
conference between Ho Chi Minh City key officials and foreign investors
in the city on August 30.
Speaking at the event, Chairman
of the Japanese Business Association Yamaguchi Kimio suggested a drastic
overhaul in administrative procedures, infrastructure and transport.
Many Japanese firms proposed easing the strict regulations on over-time working hours.
Nicola Connolly, Vice chairwoman of the Eurocham Executive Committee
in Vietnam warned that with the ASEAN Community gradually forming,
Vietnam may lose its competitive edge in terms of investment environment
if the country fails to take active measures.
AmCham
Vietnam Executive Director Herb Cochran called for more transparency,
adding that Vietnam should create a level playing field so that
firms can access policy, credit and land in a fair and transparent way.
He also stressed the need to enforce a united system of
management and legal regulations as well as intellectual property rights
to protect firms’ legitimate interests.
Sharing the view,
head of the Business Support Department under the Korean Business
Association Paik In-ki said changes to the laws on investment, land,
environment and taxation directly impact businesses and the investment
environment. Thus, policymaking must offer chances for growth, he said.
Do Nhat Hoang, Head of the Foreign Investment Agency,
informed the conference that the Government is still working hard to
forge a better business environment by revising mechanism and policies
as well as improving enforcement capacity, while tackling urgent issues.
Meanwhile, Le Manh Ha, Vice Chairman of the municipal
People’s Committee, vowed to recommend measures to the Government to
clear business difficulties in the time to come.-VNA