We highly appreciate the Government's efforts to integrate into the world's economy, in particular it is worth mentioning the recent conclusion of important trade pacts such as the EU- Vietnam Free Trade Agreement, the Trans-Pacific Partnership, the Vietnam –Korea Free Trade Agreement. Foreign business community is expecting from the Vietnamese Government to stay course on its path of international integration and implementation of its international commitments. Foreign investment is an effective channel to develop the country, thus the Government needs to adopt preferential treatment for foreign investors in terms of policies, land and human resources.
But foreign investment cannot come at the price of unlimited
environmental pollution and GDP should not be the only indicator of
a fast-growing country. The current serious environment pollution
in China as a result of its hot development in the recent years is
a big lesson that Vietnam must learn from. The magic term for
Vietnam's future is "Sustainable Foreign Direct
Investment". Vietnamese Government should focus on encouraging
sustainable development. One form is renewable energy. However,
there has been done too little to move foreign direct investment
forward in the renewable energy sector. Lack of sufficient
supporting regime, low feed in tariff, project bankability are
among hindrances to development in the sector.
But in my view the major hindrance for development in the Renewable
Energy sector is the will of the Authorities in charge to really
implement commitments of international agreements like the Paris
agreement and make things happen in Vietnam. I conclude: Nothing
will move without the real will to do it. We need the will and real
action to create a sustainable framework for Renewable Energies and
sustainable Foreign Direct Investment.
I am confident that the new Government will walk its talk to this regard.
Disclaimer: This Alert has been prepared and published for informational purposes only and is not offered, nor should be construed, as legal advice. For more information, please see the firm's full disclaimer.
