Special Dialogue with Minister of Planning & Investment on New Investment & Enterprise Law: Will Vietnam be the next ASEAN Tiger?

Source: http://www.eurochamvn.org


Around 70 guests were present at the event for a very successful and informative discussion, among them the EU Ambassador H.E. Franz Jessen, Ambassador of Spain H.E. Mr. Alfonso Tena, Ambassador of Romania H.E. Mr. Valeriu Arteni, Ambassador of the Netherlands H.E. Ms. Nienke Trooster, Country Director of World Bank Mrs Victoria Kwakwa and representatives of leading European companies.


H.E. Bui Quang Vinh, Minster of Ministry of Planning and Investment, first spent an hour in a private meeting with 6 major EuroCham member companies and institutions representatives (ABB, CEEC, Duane Morris, HITC, Mecedes-Benz Vietnam, Siemens and the World Bank) where the business community had the opportunity to share with Minister Vinh their main industry concerns in a very open and mutually understanding atmosphere.


In the context of Vietnam’s further regional integration into ASEAN, the European business community and Minister Vinh agreed that Vietnam will face stronger competition and that further cooperation between the government and the business sector is key for Vietnam’s successful development.


The main topics discussed were tax policies, import duties in the automotive industry, the complexity of FDI in regards to the slow and tedious administrative processes as well the need for further transparency and accountability.


After an overview of the current status of the EU-Vietnam Trade negotiations by Ambassador Jessen, the second part of the event was held in front a bigger audience made up of embassy and business representatives. Mr. Oliver Massmann, Partner of Duane Morris and Board Member of EuroCham, presented the major changes of the new investment law. Minister Vinh followed with a brief presentation on what he believes are the main obstacles for Vietnam to become the new ASEAN "tiger, and not just a cat", as he put it.


A Q&A session followed. The main topics discussed included SOE reform and the necessity for further equitization, land prices, the new investment law and FDI as well as the EU-Vietnam FTA and the TPP negotiations.


Minister Minh was very straightforward and open in his remarks and opinions. He underlined his will to cooperate with the European business community and showed a very pragmatic approach to the issues Vietnam currently faces.

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