Although the COVID-19 pandemic has caused tremendous difficulties for the business community, including foreign-invested enterprises, they have promoted their sense of solidarity and joined hands to share in the responsibility of the Government and local authorities to support people and communities in the fight against COVID-19. They have also taken actions to adapt to the new situation, maintaining production and business activities, and creating jobs for labourers, thus contributing to socio-economic development.
Choi Joo Ho, general director of Samsung Vietnam, shared that despite the COVID-19 pandemic, Samsung has successfully achieved its export targets in the first six months of the year. If Samsung's home appliance factory in Ho Chi Minh City soon reopens, it is expected to exceed this year's export targets.
Vietnam has established itself as an attractive investment environment for foreign investors thanks to an abundant workforce, stable socio-political situation, production infrastructure and favourable policies for investors. Vietnam will remain an attractive destination for foreign investors in the long run once the COVID-19 pandemic is brought under control.
According to Choi Joo Ho, maintaining the global supply network of industrial parks is extremely important for businesses operating manufacturing plants, thus he stressed the need to build a mechanism to ensure "uninterrupted production".
He suggested that even in difficult circumstances, the production lines of factories will not stop working, still operating according to standard guidelines and predetermined routes.
He also proposed localities where global IT businesses are involved in the supply chain, should soon sign a Memorandum of Understanding to build an ecosystem that supports businesses. The main content is to develop standard principles related to the prevention of the COVID-19 pandemic, to facilitate the movement of people and goods, as well as policies to minimise the damage caused by factory closures without advance notice.
Meanwhile, Binu Jacob, general director of Nestlé Vietnam, shared that Nestlé has encountered multiple difficulties, such as lower consumer demand, unsafe workplaces, the lack of manpower and supply chain disruptions. In this context, the company is focusing on three priorities during the pandemic, including protecting people, ensuring business continuity and supporting communities.
Despite the difficulties, Nestlé will build a new factory in southern Dong Nai Province within the next two years at a cost of US$132 million, to double its production capacity of instant coffee for export and turn Vietnam into a production center for liquid food products for export to Asia and Australia.
Nguyen Thi Bich Ngoc, Deputy Minister of Planning and Investment, reaffirmed that The Vietnamese government has consistently created favourable conditions for foreign-invested enterprises, promoting investment attraction and economic development.
Despite the serious impacts of the COVID-19 pandemic, foreign investments in Vietnam in the first nine months of 2021 rose, showing investors' trust and optimism regarding the country’s socio-economic recovery and development in the coming time.
The National Assembly and Government have been making every effort to repel the pandemic as well as removing difficulties for businesses through many resolutions and decrees on tax and fee exemptions and reductions.
The Prime Minister has also established two special working groups headed by two Deputy Prime Ministers to review and ease the difficulties for businesses and people affected by the pandemic and to promote current investment projects.
The Government and the Prime Minister have had meetings with businesses from Japan, the Republic of Korea, Europe and the United States in Vietnam to remove difficulties facing their operations and support their production and business activities.
Recently, the Ministry of Planning and Investment coordinated with the Vietnam Business Forum Alliance (VBF) and business associations to survey over 500 foreign-invested enterprises.
According to the survey results, the FDI business community has truly appreciated the Government's response to the pandemic, expressing optimism about Vietnam's economic recovery, and committing to continuing to invest and do long-term business in Vietnam.
67% of European companies have a positive assessment of the prospect of Vietnam's business environment. Japanese businesses expressed optimism about the possibility of the early recovery of the Vietnamese economy in 2021, with 47% planning to expand their production and business in Vietnam.
Korean enterprises all had new investment plans in Vietnam while most American businesses appreciated the Vietnamese Government's efforts in response to the pandemic, and they believing that Vietnam would soon control it fully.
