The Government will encourage private and foreign direct investment in developing infrastructure and quality human resources to proactively lure the new investment wave, associated with the effective participation in the global value chain and the transfer of advanced and environmentally friendly technology.

Deputy Prime Minister and Foreign Minister Pham Binh Minh addresses
the Viet Nam Business Forum in Ha Noi on December 22, 2020. Photo: VGP

The aforementioned statement was emphasized by Deputy Prime Minister and Foreign Minister Pham Binh Minh at the Annual Viet Nam Business Forum (VBF) 2020 themed “Challenges and opportunities in the new normal” in Ha Noi on December 22.

The Deputy PM affirmed that the Government appreciates the VBF’s contributions to the economic policy research, advising and making process, expressing his hope that the business community will continue to play a core role in implementation of development strategies and plans in the coming period. 

He spoke highly of the forum’s discussion topic as it is relevant to the current situation in the country and in the world, in which the COVID-19 pandemic has evolved swiftly and complicatedly, causing serious consequences and pushing the global economy into a crisis and many economies into negative growth. 

In Viet Nam, the disease and severe natural disasters have also caused many negative impacts, forcing the economic growth to slow down significantly.

Photo: VGP

In that context, the Government has shown high determination ensure socio-economic development and strive to achieve the highest possible growth rate as well as drastically fighting the pandemic.

As forecast by the International Monetary Fund (IMF), Viet Nam can attain an economic growth rate of 2.4% in 2020, making it one of the economies with high growth in the region and the world.

Deputy PM Minh affirmed that creating a favorable environment to help the business community soon recover, rise up and regain the development momentum in the “new normal” is the top priority of the Vietnamese Government in its macroeconomic direction and administration this year./.