With the interest in policies relating to offshore wind power, marine spatial planning, and other investment opportunities in Vietnam, the Prime Minister welcomed and emphasized that the Vietnamese Government always protects the rights and interests of the investor.
Speaking at the reception of Prime Minister Pham Minh Chinh, the business delegation of the EU-ASEAN Business Council and the European Chamber of Commerce in Vietnam (EuroCham) expressed concern about policies related to offshore wind power, national marine spatial planning, electricity development planning VIII, the roadmap for reform of the health sector and the list of drugs covered by insurance, and the extension of work permits for foreigners, etc.
According to Alain Cany, President of EuroCham in Vietnam, businesses will actively advocate ratification of the EVIPA Agreement. Mr. Jens Ruebbert, Vice Chairman of the Board of Directors of the EU-ASEAN Business Council, praised Vietnam’s accomplishments in recent years.
He stated that Vietnam has become a global phenomenon and an appealing economic location. Vietnam is and will continue to play an increasingly vital role in trade and investment with the EU, particularly in the current volatile world.
Wind power businesses
Deputy Minister of Natural Resources and Environment Vo Tuan Nhan stated that the national marine spatial plan will be submitted to the National Assembly for approval in October 2023 in the spirit of many sectors, and fields of joint exploitation and use in a specific marine space with the requirement of non-conflict and sustainable development.
On the other hand, the authorities are actively working to complete Power Master Plan VIII and continue to examine and revise energy development policies, including wind power, as needed. Deputy Minister Vo Tuan Nhan proposed that European investors invest in high-tech and innovative technologies in Vietnam to help promote a green economy and sustainable growth.
Deputy Minister of Public Security Luong Tam Quang stated that he would encourage the competent authorities to expand the e-visa policy, and continue to reform residency regulations in order to create the best circumstances for foreign workers in Vietnam and to promote company operations.
In the health sector, Deputy Minister of Health Do Xuan Tuyen stated that agencies are still completing papers for the Government to present to the National Assembly a project to update the Health Insurance Law in 2023 and a new Pharmacy Law in May 2024. This is an amendment that includes several revised regulations that are in accordance with worldwide norms and Vietnamese reality, allowing patients to have better and earlier access to sophisticated medical services and treatments.
The government has also proposed to the National Assembly the adoption of Resolution 80, which would allow the continued use of circulation registration papers for drugs and medicinal ingredients that had expired on January 1, 2023, but had not yet been extended in accordance with Pharmacy Law regulations. Recently, the Vietnamese Drug Administration, in collaboration with the Ministry of Health, agreed to prolong almost 8,880 medications, vaccines, and medicinal biological products.
The Department has also increased the frequency with the update of the List of Drugs on the List of Covered Drugs. In the next months, the Ministry of Health will undertake initiatives to accelerate the ongoing updating of the Drug List in order to suit the demands and interests of health insurance card holders.
The government’s proposals
The Prime Minister stated at the event that the foreign-invested economic sector is an essential component of the Vietnamese economy and that the Vietnamese government consistently respects the lawful and legitimate rights and interests of investors.
The Prime Minister proposed that the EU continue to accompany Vietnam in implementing three strategic breakthroughs, promoting three development drivers (investment, export, and consumption); and assisting Vietnam in accessing green and high-tech financial investment sources, in order to serve the needs of sustainable development.
According to the Prime Minister, the National Assembly recently adopted the national master plan, and agencies will continue to build and finalize the plans, providing a foundation for investors to continue looking for new chances to corporate.
Concerning the sustainable development roadmap for wind power development and Power Planning VIII, the Prime Minister stated that the government has issued the National Strategy on Green Growth for the 2021-2030 period, with a vision to 2050 and a determination to implement climate change response commitments.
The authorities are continuing to perfect the mechanisms, policies, and planning related to electricity development on the basis of an overall consideration of five factors: power source, electricity load, electricity distribution, electricity use, and electricity prices that are appropriate to the economy’s and people’s income levels. Finding optimal price solutions with deployed wind power projects to assure harmonious advantages between investors, the government, and people for long-term and successful collaboration.