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Hanoi (VNA) – Foreign ministers of the ten ASEAN member states convened a special meeting via videoconference on March 2 to discuss the political crisis in Myanmar.

The Japanese news agency Kyodo quoted a senior official from an ASEAN member country as saying that all 10 foreign ministers are attending, including Myanmar’s military-appointed Foreign Minister Wunna Maung Lwin.

Brunei, which holds the rotating chairmanship of ASEAN this year, organised the meeting under the auspices of Indonesian Foreign Minister Retno Marsudi and Malaysian Foreign Minister Hishammuddin Hussein.

Singaporean Foreign Minister Vivian Balakrishnan said on March 1 that despite ASEAN’s core principle of consensus and non-interference, ASEAN can still play a constructive role in hopefully facilitating a return to normalcy and stability in Myanmar.

During an informal meeting of the United Nations General Assembly on February 26, Vietnam’s Permanent Representative to the UN, Ambassador Dang Dinh Quy, called on parties in Myanmar to exercise self-restraint, avoid escalating tensions, and conduct dialogue towards reaching a satisfactory solution in line with the Constitution and law as well as public aspirations.

In his opinion, the international community needs to create favourable conditions for the transition to democracy in Myanmar and respect the principles of independence, national sovereignty, and non-interference in countries’ internal affairs while ensuring safe and humanitarian access to key services for Myanmar’s people, especially vulnerable groups.

He stressed that Vietnam wants Myanmar to return to stability soon, for the sake of its development as well as for peace, stability, and cooperation in the region and for ASEAN Community building./.

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The Hanoitimes – The conference would welcome over 1,200 domestic and foreign investors, businesses, many of whom would receive their respective investment licenses from Hanoi’s authorities.

Prime Minister Nguyen Xuan Phuc is attending Hanoi’s major investment promotion conference themed “Hanoi 2020 – Investment and Development Cooperation” on June 27 at the National Conference Center where major projects will be licensed.

Hanoi’s investment promotion conference would welcome over 1,200 domestic and foreign investors, businesses.

The event is set to attract up to 1,850 delegates, including senior government officials, 29 ambassadors and diplomatic officers, representatives from eight international organizations, foreign experts, among others.

Notably, the conference would welcome over 1,200 domestic and foreign investors, businesses, many of whom would receive their respective investment licenses from Hanoi’s authorities.

Prime Minister Nguyen Xuan Phuc attends the event. Photo: Tran Long

At this event, Hanoi’s leaders will sign 36 memorandum of understandings (MOUs) worth US$26.08 billion with organizations, businesses and investors, including 23 MOUs with domestic enterprises (US$17.85 billion) and 13 with foreign ones (US$8.22 billion).

The Hanoi People’s Committee would also announce an investment portfolio comprising of 282 projects with estimated investment capital of VND483.1 trillion (US$21.66 billion) in eight priority fields, including (1) 151 industrial, trade and services projects; (2) 34 projects of technical infrastructure development; (3) 45 projects of social housing; (4) nine environmental projects; (5) 13 projects of repairing and rebuilding old complexes; (6) 10 projects in housing development; (7) 15 agricultural projects; (8) five urban development projects along the Vo Nguyen Giap avenue.

“Hanoi 2020 – Investment and Development Cooperation” conference is expected to be a platform for greater cooperation between investors, businesses and Hanoi’s authorities in particular, and of Vietnam in general.

By convening the conference after the initial containment of the Covid-19 pandemic, Hanoi sends a strong message on efforts of the capital city and Vietnam to lure investment from domestic and overseas businesses.

Hanoi remains a safe and stable investment destination for investors as the capital city is determined to be the pioneer among Vietnam’s localities in rebooting the economy in the post-pandemic period.

Secretary of the Hanoi Party Committee Vuong Dinh Hue speaks at the event. Photo: Tran Long

Hanoi speeds up economic recovery

Addressing the event, Secretary of the municipal Party Committee Vuong Dinh Hue said the conference is expected to help Hanoi attempt to take the lead among localities nationwide in 2020 in the economic recovery after the sweeping of the Covid-19 pandemic.

Building Hanoi into a smart, creative and livable city

Chairman of the Hanoi People’s Committee Nguyen Duc Chung. Photo: Pham Hung

Chung said that the business community and investors have made important contributions to Hanoi’s achievements over the past years.

On this occasion, the municipal government and investors will sign 38 memorandums of understanding with a total investment of about US$28.6 billion, including 26 proposals worth about US$20.5 billion by local investors and 12 proposals, estimated at US$8.32 billion, foreign investors.

Hanoi – high potential in agricultural development and IT human resources

Minister of Agriculture and Rural Development Nguyen Xuan Cuong

Minister of Agriculture and Rural Development Nguyen Xuan Cuong said that the conference has been held impressively with the application of information technology.

Hanoi pioneers welcoming new investment wave

South Korean businesses expect more support in tourism World Bank always stands ready to support Hanoi

World Bank’s Country Director for Vietnam Ousmane Dione

World Bank’s Country Director for Vietnam Ousmane Dione said that although the Covid-19 epidemic has left unpredictable consequences on people’s health and life, it has opened up opportunities for Hanoi, which has contained the pandemic and has become a safe destination for multinational companies to relocate their production facilities.

“We’ve been always supported by the Hanoi authorities”

The Hanoitimes – “Hanoi 2020 – Investment and Development Cooperation”conference is being held at the National Conference Center.

Hanoi’s major investment promotion conference themed “Hanoi 2020 – Investment and Development Cooperation” is taking place on June 27 at the National Conference Center, with the attendance of Prime Minister Nguyen Xuan Phuc and a large number of audience, including foreign investors and diplomats.

Prime  Minister Nguyen Xuan Phuc visits booths on the sidelines of the conference.

Prime Minister Phuc and the local auothorities view the planning map of the capital city.

A number of delegates including senior government officials, ambassadors and diplomatic officers, representatives from international organizations and businesses attend the conference.

Secretary of the Hanoi Party Committee Vuong Dinh Hue states at the opening ceremony.

Chairman of the Hanoi People’s Committee Nguyen Duc Chung speaks at the event.

Minister of Agriculture and Rural Development Nguyen Xuan Cuong delivers a speech at the conference.

Minister of Education & Training Phung Xuan Nha speaks at the event

Ousmanw Dione, WB country director for Vietnam speaks at the event

PM Nguyen Xuan Phuc addresses the conference PM Nguyen Xuan Phuc hands over investment certificates to investors of projects in Hanoi. Photo: Quang Hieu/BGP

The event attracts more than 1,300 local and foreign businesses and investors to participate.

Hanoitimes reporter interviews a foreign participant

Photos: Pham Hung (Kinh te & Do thi)

The Hanoitimes – Hanoi targets to take its GDP per capita to a high income level 2030.

Hanoi should work to reach a higher status that is no longer of national level but regional one, Vietnam’s Prime Minister Nguyen Xuan Phuc has said.

Vietnam’s Prime Minister Nguyen Xuan Phuc speaks at the conference on June 27. Photo: Zing

With a millennial history, Hanoi should be positioned as one of political, economic, and cultural hubs in Southeast Asia by 2045, PM Phuc said at the “Hanoi 2020 – Investment and Development Cooperation” conference on June 27. This was the fourth hosting of such an event by Hanoi with the aim of boosting investment in the city.

“Hanoi should not set a goal to compete with national cities but regional ones like Bangkok, Kuala Lumpur or Shanghai,” the PM said at the event attended by roughly 1,800 guests who are ambassadors, international experts, foreign and domestic businesses, and local officials.

The old mindset in governance is no longer suitable for a dynamic city whose leaders are open to listening to people, tackling problems for businesses, and facilitating all economic sectors, said PM Phuc.

Hanoi, whose leaders are pioneering and enterprising, has built up a political system of integrity and taking action for both people and businesses.

In addition, it has been ranked a safe investment destination for domestic and foreign investors thanks to its stable political environment.

As a result, Hanoi has drawn a number of large foreign direct investment (FDI) projects by many multinational companies.

Vietnam’s Prime Minister Nguyen Xuan Phuc and Chairman of the Hanoi People’s Committee Nguyen Duc Chung. Photo: Zing

Factors for Hanoi’s growth

Speaking at the conference, PM Phuc said there are three main factors that Hanoi needs to take into account for its growth path.

Firstly, well-stipulated regulatory framework should come the first and foremost for Hanoi to offer opportunities to investors and open new markets for the city itself.

Secondly, the geographical position is one of Hanoi’s strengths to link to other localities and form an area of cooperation with larger chains of supply, production, and distribution.

Thirdly, good human resources would be very important for the city’s development. Good businesses, wealthy people, and competent individuals are encouraged to trust in the local government.

With the aforementioned reasons, Hanoi should have a green, clean, and livable environment with lots of energy. Startups and digital economy are listed among the city’s key goals, the PM suggested.

The Hanoitimes – The investment promotion conference presents a big opportunity for both domestic and foreign enterprises doing business in Hanoi, said a local official.

At the upcoming “Hanoi 2020 – Investment and Development Cooperation” conference, the city’s leaders will issue licenses for 116 projects with registered capital of a combined VND339.67 trillion (US$14.66 billion), according to the municipal People’s Committee.

Hanoi’s leaders would issue investment licenses for 116 projects with a combined registered capital of VND339.67 trillion (US$14.66 billion) at the upcoming investment conference.

The event, scheduled to take place at the National Convention Center on June 27, is set to attract up to 1,850 delegates, including senior government officials, 29 ambassadors and diplomatic officers, representatives from eight international organizations, foreign experts, among others.

Vice Chairman of the Hanoi People’s Committee Nguyen Van Suu said the event presents a big opportunity for both domestic and foreign enterprises doing business in Hanoi.

Over the past few years, Hanoi has been striving to improve the legal framework for greater convenience and addressing concerns of investors, Suu said at a press conference on June 23, stating the goal is for new projects to be implemented at the earliest time possible.

Notably, the conference would welcome over 1,200 domestic and foreign investors, businesses, many of whom would receive their respective investment licenses from Hanoi’s authorities. Prime Minister Nguyen Xuan Phuc would attend this meaningful event.

Additionally, Hanoi’s leaders are expected to sign 36 memorandum of understandings (MOUs) worth US$26.08 billion with organizations, businesses and investors, including 23 MOUs with domestic enterprises (US$17.85 billion) and 13 with foreign ones (US$8.22 billion).

The Hanoi People’s Committee would also announce an investment portfolio comprising of 282 projects with estimated investment capital of VND483.1 trillion (US$21.66 billion) in eight priority fields, including (1) 151 industrial, trade and services projects; (2) 34 projects of technical infrastructure development; (3) 45 projects of social housing; (4) nine environmental projects; (5) 13 projects of repairing and rebuilding old complexes; (6) 10 projects in housing development; (7) 15 agricultural projects; (8) five urban development projects along the Vo Nguyen Giap avenue.

“Hanoi 2020 – Investment and Development Cooperation” conference is expected to be a platform for greater cooperation between investors, businesses and Hanoi’s authorities in particular, and of Vietnam in general.

By convening the conference after the initial containment of the Covid-19 pandemic, Hanoi sends a strong message on efforts of the capital city and Vietnam to lure investment from domestic and overseas businesses, the deputy mayor said.

More than ever, Hanoi remains a safe and stable investment destination for investors as the capital city is determined to be the pioneer among Vietnam’s localities in rebooting the economy in the post-pandemic period, he added.

In 2020, Hanoi targets an economic expansion rate 1.3 times higher than the national average, and a state budget revenue of VND285 trillion (US$12.34 billion).

FDI commitments to Hanoi in the year to May 19 increased 6.1% against the previous month to US$1.04 billion. From the start of this year, the capital city has approved 255 new projects worth US$327 million and allowed other 63 to pump an additional US$378 million in the five-month period. Foreign investors also contributed US$340 million in capital to other 468 projects.

The Hanoitimes – Ambassador of Norway to Vietnam Grete Løchen has shared her thoughts with Hanoitimes about how Vietnam and Hanoi, as a safe and stable investment destination for investors, can advance green growth.

In May 2019, Chairman of the Hanoi People’s Committee’s Nguyen Duc Chung, while accompanying Prime Minister Nguyen Xuan Phuc on his official visit to Norway, had a meeting with leading companies and business groups of Norway to discuss cooperation opportunities.

Covid-19 has also showcased the importance of developing better digital platforms within health, education, finance as well as more focus on healthy living and eating habits. With a more health-conscious Vietnamese population, fresh Norwegian seafood would be very attractive for the Vietnamese market. As soon as Vietnam resumes international commercial flights, I’m confident that Norwegian businesses will be coming to Vietnam and Hanoi.

Not just Vietnam’s economy has been hit hard due to the Covid-19 pandemic but the global economy as well. It’s important to recognize that the pandemic is not over at the global level and in some countries, we do see increasing numbers of infected persons.

The challenge for every country is to balance the task of containing the virus while reopening the economy. In short, the world needs to learn to live with the virus until we have an affordable vaccine available to all.

I do think it’s important to recognize that it is not about getting back to the situation before Covid-19 but that there is a new normal after Covid-19. This goes for businesses as well. The Covid-19 pandemic has accelerated trends in the global economy such as protectionism and digitalization.

It’s important to safeguard a rule-based international trade regime and to look for new business opportunities in a sustainable manner. It’s not about quick fixes, but more about innovation and ensuring fair distribution. The Sustainable Development Goals (SDGs) are more relevant than ever before.

Ambassador of Norway to Vietnam Grete Løchen and Hanoi’s mayor Nguyen Duc Chung hold a meeting. Photo: Embassy of Norway.

It is encouraging to see the entire Vietnam and Hanoi city are now striving to perform the dual tasks of recovering the economy while containing Covid-19. The fact that the city is to organize the “Hanoi 2020 – Investment and Development Cooperation” Conference in the current situation shows the City’s determination to speed up economic recovery and continue to grow.

Many analysts feel Vietnam’s performance with the fight against Covid-19 would enhance its credibility among the international community and could make it more attractive to foreign investors. Asia was the first continent hit by Covid-19 and the first one probably recovering. This gives Asia probably some advantages.

It is true that Vietnam and Hanoi remain a safe and stable investment destination for investors. In general, foreign investors always consider several important factors when making their investment decisions, which include (1) the political stability, (2) a business enabling environment with consistent and predictable legal and policy frameworks, (3) transparent and accessible information, (4) simplified administrative procedures, and (5) skilled workers.

However, the way to attract foreign investors post Covid-19 should be different from the traditional one. First of all, it means that Vietnam must open up again its international borders for business. Incentives should be specific and meet foreign investors’ expectations matching it with Vietnam’s needs to strengthen and develop its domestic private sector.

It is time to focus on greener and cleaner investments to tackle Hanoi’s serious challenges, when it comes to air pollution and to ensure sustainable and environmentally friendly development.

At the upcoming “Hanoi 2020 – Investment and Development Cooperation” conference, the city’s leaders will issue licenses for 116 projects with registered capital of a combined VND339.67 trillion (US$14.66 billion), according to the municipal People’s Committee.