Minister chairs FDI forum

HCM City (VNA)- Minister of Industry and Trade Vu Huy Hoang chaired a forum with
nearly 100 foreign invested enterprises promoting their exports which last year
accounted for 44 percent of the national total.

The minister expressed his concerns at the event, which was held in HCM City on
April 8, that the foreign invested sector suffered the biggest losses in the first
quarter of 2009, as national export revenues grew by a meager 2.4 percent, the
lowest in years.

He reiterated a series of solutions that have been promulgated by the government
to cope with impacts of the global economic crisis, that range from tax exemptions
and reductions to investment stimulus, soft loans, export promotion activities,
and boosting domestic consumption.

Hoang also took note of major issues raised by participants, notably customs
procedures, tax policies, banking operations, investment stimulus, labour quality,
and electricity prices.

"Proposals will be sent to relevant agencies or industries for consideration, and
submitted to the government for solutions in an effort to create better conditions
for foreign enterprises to expand their production and bolster their businesses,"
promised the minister.

FDI companies reported 24.2 billion USD in export revenues in 2008, leading the
nation in earnings. Foreign enterprises play a key role in most major export
industries, such as garments and textiles, footwear, electronics, and equipment
and machinery.-Enditem