Speaking at the Vietnam - Turkey Business Forum held on November 30, Prime Minister Pham Minh Chinh congratulated Turkey's remarkable development, becoming one of the 20 largest economies in the world.

Informing the Forum on the situation in Vietnam, the Prime Minister said that Vietnam is focusing on implementing three strategic breakthroughs, including: a breakthrough in building and perfecting institutions; a breakthrough in developing infrastructure, including transport infrastructure; a breakthrough in developing human resources and reforming administrative procedures.

In terms of institutions, we will focus on improving the business investment environment, decentralization, decentralization, reforming administrative procedures, and removing difficulties and obstacles for businesses. Thereby, we will have a transparent policy system, a smooth infrastructure system, and smart governance.

"These are the fundamental factors for foreign investors to come to Vietnam to do business stably and effectively," the Prime Minister pointed out.

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Vietnam is ready to attract foreign investment (Illustration photo: Hoang Ha)

The Prime Minister also said that Vietnam focuses on and wishes to cooperate in the fields of digital economy, green transformation, circular economy, knowledge economy, and sharing economy; taking science, technology, and innovation as new development drivers.

Accordingly, Vietnam creates the best conditions for large, high-tech corporations with management experience, including Turkish enterprises, to invest and do business in Vietnam.

In addition, Vietnam also gives priority to large, high-tech investors participating in economic restructuring, supporting Vietnamese enterprises to increase the localization rate to participate in the global supply chain.

The Prime Minister said that there is still a lot of room for cooperation between Vietnam and Türkiye, but the cooperation mechanism is still limited. Vietnam proposed that Türkiye recognize Vietnam as a full market economy and that the two sides negotiate a free trade agreement... to create more favorable conditions for businesses of the two countries to invest and do business.

The Prime Minister affirmed that Vietnam will continue to improve the investment and business environment so that enterprises, including Turkish enterprises, can invest and do business effectively in Vietnam. Vietnam always accompanies, shares, and removes difficulties and obstacles to help enterprises develop smoothly; protects the legitimate rights and interests of enterprises, in the spirit of "harmonious benefits and shared risks".

The Prime Minister believes that in the coming time, economic cooperation between Vietnam and Türkiye will be raised to new heights and become increasingly effective, with active and proactive contributions from the business communities of the two countries.

Meanwhile, Mr. Mehmet Faith Kacir, Minister of Industry and Technology of Türkiye, shared: “We are ready to promote this cooperation with Vietnam and participate in the process of technology transfer, building industrial parks in Vietnam, and closely cooperating with Vietnamese enterprises operating in the industrial sector. In addition, we have the strength of digitalization, so we hope that the governments of the two countries will facilitate trade and investment in visa procedures and promote e-commerce.”

In recent times, trade and investment cooperation between Vietnam and Türkiye has developed well. Many large Turkish enterprises have participated in Vietnam's infrastructure projects. Trade between the two countries reached 2.4 billion USD in 2022, with the potential to further increase trade turnover. Turkey is currently the largest direct investor from the Middle East in Vietnam, with a total registered investment capital of nearly 1 billion USD.