(VOVworld) – One of Vietnam’s most needed reforms is to create a legal framework for non-state economic sectors to invest in infrastructure construction, economic development, and public services.

Minister of Planning and Investment Bui Quang Vinh (Photo: vov.vn)

That was a statement made by Bui Quang Vinh, Minister of Planning and Investment, on the TV show “People ask, ministers answer”. Vinh said that all foreign enterprises licensed to do business in Vietnam have to obey Vietnamese law and operate like domestic enterprises. As a result, Vietnam does not distinguish the foreign direct investment (FDI) sector from the domestic economic sector. Vinh said the problem is how domestic enterprises can develop and gain achievements like the FDI sector. He said: “The government should resolve basic difficulties for Vietnamese businesses. It’s necessary to quickly buy or and sell enterprises’ debts in order to help them outline their best development strategies. Bad debts should be written off. Private businesses should be given access to national resources transparently and fairly. The Vietnamese businesses have to develop methodologically.”