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Prime Minister lays out red carpet for Macau investors
(22-04-2009)
Macau — Viet Nam and the Macau Special Administrative Region of China have agreed to make it easier for businesspeople to invest.
This was concluded during talks between visiting Prime Minister Nguyen Tan Dung and Chief Executive of Macau, Edmund Ho Hau Wah, yesterday.
Two way-trade between Viet Nam and Macau in 2008 was US$35 million. Macau has eight foreign-invested projects in Viet Nam with a total registered capital of $32 million.
However, according to the Prime Minister, these figures are too low compared to the potential.
He called on Vietnamese and Macau enterprises to accelerate their co-operation, particularly in trade, investment and tourism.
"With more than 3,200km of coastal line and beautiful beaches and landscape, Viet Nam is an ideal place for developers to invest in luxurious resorts and eco-tourism," Dung said.
The two sides also agreed to promote co-operation in legislative, executive and legal areas as well as in mass organisations.
The Macau official pledged to act as a bridge between Viet Nam and Portuguese speaking nations in economic and trade activities.
"I highly appreciate the first visit to Macau by a Vietnamese Prime Minister – Prime Minister Nguyen Tan Dung," he said.
While in Macau, Prime Minister Dung attended the Viet Nam-Macau Business Forum and praised the enclave’s rapid economic growth.
"The region is a commercial transit point for many countries, including Viet Nam," he said.
At present China is Viet Nam’s leading trading partner and investor. Trade turnover in 2008 amounted to more than $ 20 billion, an increase of 28 per cent against over 2007.
China now has more than 600 foreign direct investment projects in Viet Nam with a total registered capital of more than $2 billion.
PM back from Asia forum
Dung returned to Ha Noi yesterday from the Bo’ao Forum for Asia in China.
The forum focused on Asian efforts to overcome economic challenges, the position and role of emerging economies, and strategies to develop business, including small- and medium-sized enterprises, Vietnamese deputy foreign minister Ho Xuan Son said yesterday in Ha Noi.
The forum’s 1,600 participants from all around the world also sought a balance between creativity, openness and administrative oversight in financial and fiscal matters
"The Vietnamese delegation have participated actively in the forum," said Son, adding that delegates had agreed on the need for Asian nations to enhance solidarity and strengthen international and regional co-operation in trade, investment, finance and banking.
The Prime Minister had also briefed the forum on measures that the Vietnamese Government had taken so far to ease the impact of the economic crisis, Son said.
Speaking at the forum’s opening ceremony, Dung stressed that Viet Nam would work closely with regional neighbours to overcome difficulties, and he suggested an increase in co-operation among the Greater Mekong Sub-Region.
Dung also called on developed nations to aid developing nations, particularly in terms of funding and technology.
On the sidelines of the forum, Dung met with Chinese premier Wen Jiabao, and both agreed that enhanced co-operation during the economic crisis was of great significance.
The two also agreed to a target for bilateral trade turnover of US$25 billion next year, Son said, and hoped to encourage greater co-operation in transportation, energy, manufacturing and banking.
They also agreed to choose next year as the "Year of Viet Nam-China Friendship," as the two countries celebrate the 60th anniversary of the establishment diplomatic ties.
Son said Dung’s visit to China at this time had given new impetus to increased economic, commercial and investment ties between Viet Nam and China and with Chinese localities.
"The timing of this visit coincides with Hainan, Guangxi, Guangdong, Hong Kong and Macau all having taken initiatives to promote co-operation with Viet Nam," Son noted. "They are neighbouring to Viet Nam, are very close to Viet Nam in terms of geography and have similar customs and traditions. They also boast strong economic potential and long-term co-operative relations with Viet Nam." — VNS
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