Vietnam’s early containment of Covid-19 enhances foreign investor sentiment

Vietnam’s early containment of the Covid-19 pandemic has laid a solid foundation to cement confidence among the business community and investors in the country’s economic environment, according to Le Thi Thu Hang, spokesperson of the Ministry of Foreign Affairs.

Le Thi Thu Hang, spokesperson of the Ministry of Foreign Affairs at the press conference on May 14. Source: MOFA.

“In addition to effective measures against the pandemic, the government identifies efforts to boost socio-economic development key to ensure greater economic resilience against future shocks,” Hang said at an online press conference on May 14.

To realize this priority, Hang added Vietnam has striven to ensure the continuity of the supply chain, as well as trading activities with other countries; improve the business environment via simplification and removal of business conditions; upgrade the infrastructure system, among others.

Meanwhile, Vietnam has been actively utilizing its advantages in existing free trade agreements (FTAs); easing difficulties in handling administrative processes for enterprises and investors; creating favorable conditions for highly qualified experts and personnel entering Vietnam upon meeting safety requirements.

Referring to information of Vietnam’s involvement in talks with India, the US, South Korea, Japan, New Zealand and Australia regarding future cooperation and economic recovery in the post-pandemic period, Hang said there have been informal discussions on these issues.

During these talks, Vietnam and other countries have updated the Covid-19 situation in each country and of the world, while sharing experience and measures in the fight against the pandemic.

Hang said all parties have explored the possibilities of providing medical equipment and humanitarian aid. Countries have agreed that priorities should be given to maintaining flows of movements and trade, as well as creating utmost conditions for economic reopening and recovery during the post-pandemic period.

“Vietnam is of the belief that through constructive mechanisms of cooperation and communications, all countries and the world community could soon contain the pandemic and help economies return to development track,” Hang asserted.