Illustrative image (Source: VNA) Hanoi (VNA) – Thorough preparations and good connectivityare among crucial factors for enterprises to be successful when investing in othercountries, according to Dau Anh Tuan, head of the Legal Affairs Department atthe Vietnam Chamber of Commerce and Industry (VCCI).
Addressing a workshop in Hanoi on February 17 on overseasinvestment, Tuan said that Vietnamese firms should also fully understand and abideby the law in the host country to ensure their effective investment.
At the same time, they should prepare themselves to dealwith changes of policies in the host countries as well as cultural differences,he said.
In the last several years, Vietnam has encouraged businesscommunity to invest abroad, especially Laos and Cambodia, he noted, adding thatthe support of the Government has also been a significant factor contributingto success of Vietnamese firms in expanding their business abroad.
He also stressed the need for investors to share their experienceand lessons.
Pham Quang Tu, a representative of Oxfam Vietnam, noted thatVietnam’s investment abroad has increased in both the number of projects andcapital volume over the past years.
In 1989-2015, Vietnamese firms invested nearly 21 billionUSD in 1,049 projects overseas, he said, adding that Laos and Cambodia are thetwo traditional markets of Vietnam with highest numbers of investment projects.Mining was the sector that attracted the largest amount of Vietnamese capital,followed by agro-forestry-fisheries, said Tu.
However, Tu cited Oxfam’s survey which showed Vietnamesefirms have faced many difficulties related to policy, land, and culture wheninvesting abroad.
He suggested that investors should consult affectedcommunity during their operation in other countries, and urged that guidance beissued regarding corporate social responsibility in various fields and stages ofinvestment.-VNA
Addressing a workshop in Hanoi on February 17 on overseasinvestment, Tuan said that Vietnamese firms should also fully understand and abideby the law in the host country to ensure their effective investment.
At the same time, they should prepare themselves to dealwith changes of policies in the host countries as well as cultural differences,he said.
In the last several years, Vietnam has encouraged businesscommunity to invest abroad, especially Laos and Cambodia, he noted, adding thatthe support of the Government has also been a significant factor contributingto success of Vietnamese firms in expanding their business abroad.
He also stressed the need for investors to share their experienceand lessons.
Pham Quang Tu, a representative of Oxfam Vietnam, noted thatVietnam’s investment abroad has increased in both the number of projects andcapital volume over the past years.
In 1989-2015, Vietnamese firms invested nearly 21 billionUSD in 1,049 projects overseas, he said, adding that Laos and Cambodia are thetwo traditional markets of Vietnam with highest numbers of investment projects.Mining was the sector that attracted the largest amount of Vietnamese capital,followed by agro-forestry-fisheries, said Tu.
However, Tu cited Oxfam’s survey which showed Vietnamesefirms have faced many difficulties related to policy, land, and culture wheninvesting abroad.
He suggested that investors should consult affectedcommunity during their operation in other countries, and urged that guidance beissued regarding corporate social responsibility in various fields and stages ofinvestment.-VNA
VNA
