Vietnam’s investment environment stabilized

(VOVworld) - China’s illegal placement of an oilrig in Vietnam’s exclusive economic zone has angered the Vietnamese public. Some spontaneous marches have taken place and protestors, incited by extremists, have vandalized the property of some businesses, damaging Vietnam’s investment environment. Thanks to support from the government and local administrations, the businesses have resumed their normal operations.

Prime Minister Nguyen Tan Dung immediately instructed relevant ministries and localities to deal with the incident. Ministry and provincial leaders visited the affected businesses and worked out ways to help them resume their operations. President Truong Tan Sang personally inspected a number of foreign-invested companies in industrial parks in Binh Duong, the most affected province. He affirmed the consistent policy of the Vietnamese party and state of ensuring the safety of all foreign investors.

Vietnam’s investment environment stabilized - ảnh 1
President Sang during a visit to the Vietnam-Singapore Industrial park

Practical, timely measures

The Vietnamese government has pledged to reduce or waive land rental fees for foreign-invested companies and support them in labor issues. The Ministry of Finance will refund taxes to the affected businesses. Provincial and municipal people’s committees will also reduce or waive land rental fees for these businesses. The Ministry of Labor, Invalids and Social Affairs will cover their labor shortages while the Ministry of Public Security will facilitate visa requirements for foreign investors and workers. The Vietnamese government has asked localities to evaluate the material losses to provide timely support for the affected businesses. Do Nhat Hoang, Head of the Foreign Investment Department of the Ministry of Planning and Investment, says: “The government has asked ministries and localities to coordinate their efforts to help the affected businesses quickly resume their operations.

Investment environment stabilized

95% of the affected companies in Binh Duong have resumed normal operations. Workers in industrial parks are working overtime to fulfill their export orders. Lee Tong Hee is President of the Korean Business Association in Binh Duong: “The provincial People’s Committee is doing what it can to help Korean companies. We appreciate this timely support.”

Le Hong Phoa, President of the Binh Duong Provincial Garment and Textile Association, says: “The government and local authorities have worked closely together to help us overcome difficulties and resume our production.”

Businesses to receive more support

Administrative actions are underway to provide financial support to the affected businesses. Deputy Prime Minister Vu Van Ninh says: “The government has basically solved the affected businesses’ problems. If there is any issue beyond the government’s authority, it will be submitted to the National Assembly for discussion and approval.”

Prime Minister Dung on Monday issued another directive asking ministries and localities to step up support for the affected businesses. This shows Vietnam’s commitment to creating an effective and safe environment for foreign investors.