Phnom Penh (VNA) – The VietnameseGovernment will continue creating favourable conditions for foreign businessesto make investment in Vietnam and protect their intellectual property and assetrights.

Prime Minister Nguyen Xuan Phuc made the pledgeat a meeting on May 12 with representatives from 21 world leading companiesfrom the US, Canada, Japan, the Republic of Korea, the UK, Switzerland,Singapore and China’s Hong Kong, at the 26th World Economic Forum on ASEAN (WEFASEAN) in Phnom Penh, Cambodia.

He said doing business in Vietnam will giveforeign investors access to not only a market with 93 million people in Vietnambut also the greater market of ASEAN and the world, as the country has signed12 free trade agreements, and is pushing ahead with negotiations on four otherpacts.

The PM told the audience that Vietnam’s renewalprocess and open policies have helped domestic and foreign businesses reap successdoing business in the country.

At the meeting, WEF Managing Director PhilippRoesler described the Mekong River region, including Vietnam, as a dynamic areawith young population and urged enterprises to invest in the region and createmore jobs for young people. 

Participating entrepreneurs recognized Vietnam’shigh determination and efforts to reform and improve the business investmentenvironment as well as the Government’s support for the foreign businesscommunity.

The same day, PM Phuc attended a talk on Vietnamheld by the WEF and Vinacapital, during which he said Vietnam strives torealize the average growth target of 6.5-7 percent from now to 2020.

The country will push ahead with the improvementof the market economy institutions and strongly encourage the development ofthe private economic sector to become an important driving force in thedomestic economy, he said.

He re-affirmed the resolve to build adevelopment-facilitating government, restructure the economy and reform thecountry’s growth model.-VNA