Vietnam foreign-invested enterprise assoc. targets further business environment improvements

The Vietnam's Association of Foreign Invested Enterprises (VAFIE) will continue cooperating with business partners to improve the investment environment in the country, the VAFIE executive committee affirmed Friday.

At a meeting held to review tasks undertaken in the first half of the year, the committee noted that VAFIE collected information and observed business practices of members and enterprises in order to propose solutions for difficulties that arise.

The association has also collected opinions from management agencies, economists, organizations and enterprises through seminars and discussions organized by The Investor, in order to send comments and analyses to relevant state agencies.

In addition, it has responsibly resolved issues raised by its members, executives said at the meeting.

Nguyen Anh Tuan, VAFIE’s standing vice chairman, said they see encouraging signs such as many more businesses seek to collaborate with the association.

“In the coming time, in addition to further protection of members' rights, we will work with businesses to improve the business environment in Vietnam,” Tuan said.

VAFIE chairman Prof. Nguyen Mai said Vietnam had many opportunities to attract investments thanks to a favorable investment environment, political stability, low inflation, and high economic growth.

“Vietnam also has great opportunities to participate in the semiconductor, rare earth, and artificial intelligence industries. However, our focus must be on the preparation to welcome these opportunities,” he stressed.

The association will continue working towards updating the legal framework for socio-economic development, especially for foreign-invested enterprises. The focus will be on law guiding documents. VAFIE has made great contributions to implementing the Global Minimum Tax in Vietnam, he noted.

Executives also said that The Investor and its sister site in Vietnamese language, Nhadautu.vn, have been disseminating information in line with requests from authorities. The Vietnam Business Forum (VBF) has noted that The Investor is becoming a top economic publication in Vietnam.

The Investor will continue to improve work quality, focusing on the needs of businesses, including foreign-invested enterprises, facilitating efforts by businesses and investors to find solutions to problems, the meeting heard.