Vietnam protects legitimate rights, interests of foreign investors: PM

By Anh Minh
Tue, October 17, 2023 | 10:02 am GMT+7

Vietnam is committed to protecting the legitimate rights and interests of foreign investors in the country “in any circumstances,” Prime Minister Pham Minh Chinh has said.

The government will continue its efforts to help businesses overcome challenges and seize opportunities for long-term operations in Vietnam on the principle of harmonious benefits and shared risks, the prime minister said at a conference with foreign-invested firms in Hanoi on Monday.

The event drew the participation of 15 business associations, 180 foreign firms, and several senior government officials.

The government chief also pledged not to criminalize economic and civilian relations, but violators must be handled to ensure a transparent, equal, and healthy operating environment.

Prime Minister Pham Minh Chinh speaks at the conference in Hanoi, October 16, 2023. Photo courtesy of the government's news portal.

Prime Minister Pham Minh Chinh speaks at the conference in Hanoi, October 16, 2023. Photo courtesy of the government's news portal.

In response to investors’ queries regarding the government’s actions to create a stable and enabling environment, the PM affirmed that Vietnam adheres to the principles of conducting an independent and peaceful foreign policy, and a “four nos” defense policy.

The "four nos" defense policy means no military alliances, no siding with one country to act against another, no foreign military bases in Vietnamese territory or using Vietnam as leverage to counteract other countries, and no using force or threatening to use force in international relations.

Besides building an independent and self-reliant economy based on its internal resources, Vietnam is proactively deepening international integration. The country is now a party to 16 free trade agreements, including new-generation deals such as the CPTPP, EVFTA, and RCEP.

Vietnam continues to make breakthroughs in institutional reforms, human resource development, and infrastructure building, thus reducing input and compliance costs and raising competitiveness, he added.

Despite headwinds, Vietnam has managed to keep macroeconomic fundamentals stable, boost economic growth while taming inflation, and secure debts within safe limits, resulting in a sound environment for businesses, Chinh said.

The event drew the participation of 15 business associations and 180 foreign firms. Photo courtesy of the government's news portal.

The event drew the participation of 15 business associations and 180 foreign firms. Photo courtesy of the government's news portal.

The PM asked government agencies to continue revising and perfecting foreign cooperation policies, and improving the business environment for reduced costs to make Vietnam more competitive.

Regarding foreign firms, Chinh asked them to make long-term, sustainable and environment-friendly strategies in Vietnam, fitting the country’s master plans.

He encouraged them to innovate their business models, prioritizing the green, digital, circular, and knowledge-based economies, and climate change adaptation.

Since Vietnam opened up its economy more than three decades ago, foreign firms have been a driving force, helping boost economic growth. During that time, Vietnam has become more selective about foreign investment, now focusing on innovation and sustainability.

As of September 20, 2023, Vietnam had attracted 38,379 FDI projects worth a combined $455 billion, mainly in manufacturing and real estate. Actual investment has reached $290 billion, according to official data.

Comments (0)
  • Read More
Australian CEO detained, NSH Petro’s recovery hopes collapse

Australian CEO detained, NSH Petro’s recovery hopes collapse

The recovery prospects of NSH Petro (PSH) have dimmed after its Australian CEO was detained on allegations of fraud involving false promises of billion-dollar financing that led to the misappropriation of nearly $4.9 million.

Companies - Sat, October 18, 2025 | 6:53 pm GMT+7

Maintaining market status upgrade a bigger challenge: official

Maintaining market status upgrade a bigger challenge: official

Vietnam's stock market status will be upgraded by FTSE Russell from "frontier" to "secondary emerging" from September 21 next year, but continued reform is critical as the bigger challenge is to maintain the new classification, said a market watchdog official.

Finance - Sat, October 18, 2025 | 1:30 pm GMT+7

HCMC partners with Nasdaq to develop int’l financial center

HCMC partners with Nasdaq to develop int’l financial center

The Finance Department of Vietnam’s southern metropolis Ho Chi Minh City has signed an MoU with the U.S.-based stock exchange Nasdaq on the development of an international financial center (IFC).

Top News - Sat, October 18, 2025 | 11:56 am GMT+7

Vingroup plans $325 mln issuance of international bonds

Vingroup plans $325 mln issuance of international bonds

Vietnam's leading private conglomerate Vingroup (HoSE: VIC) has announced a board of directors resolution to issue $325 million worth of international bonds, with a five-year term and a yield of 5.5% per year.

Companies - Sat, October 18, 2025 | 10:26 am GMT+7

Vietnam raises personal income tax deductions by over 40%

Vietnam raises personal income tax deductions by over 40%

The Standing Committee of Vietnam’s National Assembly, the country's legislature, on Friday approved a resolution on adjusting personal income tax (PIT) deductions, marking a significant increase of over 40% from current levels.

Economy - Sat, October 18, 2025 | 9:11 am GMT+7

EVN subsidiary spreads the spirit of solidarity, compassion

EVN subsidiary spreads the spirit of solidarity, compassion

The employees of National Power Transmission Corporation (EVNNPT) came together in an inspiring display of unity and compassion in October, each donating one day’s salary to support and express solidarity with the people of Cuba - a nation that has long shared a special friendship with Vietnam.

Companies - Sat, October 18, 2025 | 9:00 am GMT+7

Property fever prompts tighter inspection in central Vietnam's economic hub Danang

Property fever prompts tighter inspection in central Vietnam's economic hub Danang

Chairman of Danang city People’s Committee, Pham Duc An, has ordered a comprehensive inspection and audit of land valuation and auction activities to prevent and address market manipulation that could destabilize the local property market.

Real Estate - Sat, October 18, 2025 | 8:00 am GMT+7

Vietnam mulls opening door for private investment in small modular reactors

Vietnam mulls opening door for private investment in small modular reactors

Vietnam’s Ministry of Industry and Trade has drafted a parliamentary resolution that, for the first time, would allow private companies to participate in the development of small modular nuclear reactors (SMRs).

Energy - Fri, October 17, 2025 | 4:37 pm GMT+7

Kido seeks buyer for remaining 49% stake in frozen food affiliate

Kido seeks buyer for remaining 49% stake in frozen food affiliate

Kido Group (HoSE: KDC), a leading food company in Vietnam, has approved a plan to divest the firm's remaining 49% stake in its affiliate Kido Frozen Food JSC (Kido Foods).

Companies - Fri, October 17, 2025 | 4:25 pm GMT+7

Le Ngoc Quang appointed Danang city's Party chief

Le Ngoc Quang appointed Danang city's Party chief

Le Ngoc Quang, a Party Central Committee member and Party chief of Quang Tri province, has been appointed Party chief of Danang for the 2025-2030 term - the highest position in the city, central Vietnam's economic hub.

Politics - Fri, October 17, 2025 | 4:17 pm GMT+7

T&T Group seeks to reshape north-central Vietnam’s urban landscape with major projects

T&T Group seeks to reshape north-central Vietnam’s urban landscape with major projects

Multi-sector conglomerate T&T Group is developing a model eco-urban complex in Ha Tinh province and plans to build a massive 236-hectare urban area in neighboring Nghe An, with an aim to reshape north-central Vietnam's urban landscape.

Investing - Fri, October 17, 2025 | 2:44 pm GMT+7

Toyota plans $359 mln plant expansion in northern Vietnam

Toyota plans $359 mln plant expansion in northern Vietnam

Toyota Motor Vietnam (TMV) plans to invest about VND9.46 trillion ($359.2 million) in the first phase of its plant expansion project in Phu Tho province.

Investing - Fri, October 17, 2025 | 2:09 pm GMT+7

PVI Insurance sees 9-month profit before tax more than doubling

PVI Insurance sees 9-month profit before tax more than doubling

PVI Insurance has reaffirmed its position as the No. 1 non-life insurer in Vietnam, with total revenue increasing nearly 1.4 times in the first nine months of 2025 and pre-tax profit more than doubling year-on-year - surpassing its full-year targets for both revenue and profit.

Companies - Fri, October 17, 2025 | 9:08 am GMT+7

Vingroup to develop 4,600ha coastal urban project in northern Vietnam

Vingroup to develop 4,600ha coastal urban project in northern Vietnam

A consortium of Vingroup (HoSE: VIC) and its real estate arm Vinhomes (HoSE: VHM) will develop a 4,600-hectare coastal urban complex in Ha An ward, Quang Ninh province, following local authorities’ approval of a zoning plan.

Real Estate - Fri, October 17, 2025 | 8:30 am GMT+7

Indonesia resumes int’l carbon trading after 4-year hiatus

Indonesia resumes int’l carbon trading after 4-year hiatus

Indonesian President Prabowo Subianto has issued a new decree to restart international carbon emissions trading after a four-year hiatus.

Southeast Asia - Thu, October 16, 2025 | 9:23 pm GMT+7

Investors seek 2-year delay for $2.56 bln LNG power project in northern Vietnam, citing equipment hurdles

Investors seek 2-year delay for $2.56 bln LNG power project in northern Vietnam, citing equipment hurdles

Investors of a $2.56 billion LNG-fired power plant in Hung Yen province have proposed delaying the project’s commercial operation schedule by two years due to difficulties securing key equipment.

Energy - Thu, October 16, 2025 | 9:04 pm GMT+7