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“Doing business with Vietnam Forum 2006” was opened at the National Convention Centre in Hanoi on November 16 by the Vietnam Chamber of Commerce and Industry (VCCI).

It was attended by the Government Prime Minister, ministers, officials, international lecturers and more than 1,000 Vietnamese and international delegates who are mostly enterprise managers.

The forum is an important event of the APEC 2006 Economic Leaders’ Week aimed at boosting business and investment cooperation between Vietnam and APEC member economies.

Speaking at the forum, Prime Minister Nguyen Tan Dung said, “Vietnam has successfully implemented renovation policies and has annually maintained a relatively high economic level over the past 20 years, with an average GDP growth rate of 7 percent rising to more than 8 percent in the 2005-2006 period. The figure is expected to be round 8 percent, with per capita GDP ranging between US$1,100 and US$1,200 in the next five years.

The Vietnamese economy has been developing well with as many as 76 nations and economies investing in more than 8,000 projects at a total capitalization of more than US$70 billion. The foreign-invested sector accounts for 15.4 percent of the total investment value, 15.5 percent of the total GDP, 37 percent of the total industrial production output  and nearly 56 percent of the total export turnover.

To date, Vietnam has created economic and trade links with more than 220 countries and economies from across the world.

The country’s export turnover has reached an annual growth of 20 percent in recent times. Export value in 2006 is equivalent to more than 60 percent of the country’s total GDP, up by 25 percent from 2005. Apart from being a member of ASEAN, APEC, ASEM and other economic organisations, Vietnam’s becoming the 150^th member of the World Trade Organisation (WTO) which makes up more than 90 percent of the world’s population, 95 percent of the global GDP and 95 percent of the global trade shows that its tremendous achievements have been recognised by the international community.

PM Dung said Vietnam has pledged to further streamline its institution, facilitate administrative reform in line with the world market and WTO requirements and create a more open, transparent and favourable environment for investors and, to be sure, Vietnam will be an active and responsible member of the WTO community.

He noted that Vietnam’s stable political and social development will further promote democracy, improve people’s living conditions and reduce poverty in the country. In fact, he said, the country has achieved the Millennium Development Goal of poverty reduction has been achieved 10 years ahead of time with the ratio of poor households below international standards dropping from 58 percent in 1993 to 19 percent in 2006.

The Vietnamese people are now confident about the sustainable development of the country under the leadership of the Communist Party of Vietnam and the state of the Socialist Republic of Vietnam.

Vietnam has always pursued its consistent policy of being a friend and reliable partner of all countries and nations for the sake of peace, friendship and equal cooperation based on common benefit and development.

Vietnam is the only Asian country nominated as a non-permanent member of the United Nations Security Council in the 2008-2009 term.

The Vietnamese people, businesses and the State have always welcomed friends, partners and foreign investors to Vietnam and considered foreign businesses as an indispensable part of the Vietnamese economy. The Vietnamese government and local administrations  are willing and ready to help investors do business in the country.

After the opening ceremony, Prime Minister Nguyen Tan Dung witnessed the signing of investment and joint-venturing contracts between domestic and foreign groups and enterprises. On this occasion, the Vietnam Chamber of Commerce and Industry and the US Chamber of Commerce and Industry signed a deal on supporting and developing trade relations between Vietnamese and US businesses.

In the afternoon, participants in the forum continued discussing four main topics relating to the business environment in the post-WTO period; development and competition strategy in the WTO; development of tourism services in the post-WTO period; and Vietnam’s commitments to the WTO and business opportunities for investors.

In the evening, chairman of the Hanoi Municipal People’s Committee Nguyen Quoc Trieu will host a banquet in honour of delegates to the Vietnam 2006 Trade and Investment Promotion Forum and the APEC CEO Meeting.