Vietnam is focused on completing and improving the quality of its institutions, comprehensively developing human resources, and completing synchronous economic infrastructure in order to implement the national socio-economic development strategy, Minister of Finance Ho Duc Phoc told US investors during an investment promotion conference in Los Angeles on November 14.

To that end, Vietnam needs to mobilize both internal and external resources, including direct and indirect foreign investment, develop capital markets, stock exchanges, a green economy, and a circular economy, and accelerate digital transformation, he added.

“We keep investors informed about positive macro-economic signals and government management policies, and stand ready to exchange, discuss, and talk to you to connect US investors with Vietnam and realize the Comprehensive Strategic Partnership between the two countries,” he told the conference.

During the conference, which attracted representatives from more than 60 major financial bodies and investment funds in the US, many investors expressed concerns about Vietnam’s economic outlook, tax incentives for foreign investors, and the country’s foreign investment attraction policies, especially upgrading Vietnam’s stock market from a frontier market to an emerging market.

According to Minister Phoc, despite the challenges and difficulties facing the global economy, Vietnam maintains its position as an economy with steady and stable economic growth and controlled inflation.

Its GDP growth is forecast at 5 per cent in 2023 and 6-6.5 per cent in 2024.