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Director of Vietthink attended the Opening Ceremony of the Investment Support Forum for Overseas Vietnamese

On January 14, in Hanoi, under the auspices of the State Committee for Overseas Vietnamese (Ministry of Foreign Affairs) , the Vietnam National Front, the Association for Liaison with Overseas Vietnamese (ALOV) held the Opening Ceremony of the Investment Support Forum for Overseas Vietnamese (INVESFOV).

Attending at the ceremony there were Member of the Party Central Committee, Deputy Head of the Central Committee for Mass Mobilization Pham Tat Thang; Deputy Foreign Minister, Chairman of the State Committee on Foreign Affairs Pham Quang Hieu; Vice Chairman of the Central Committee of the Vietnam National Front Phung Khanh Tai; ALOV Chairman Nguyen Phu Binh; Former Member of the Party Central Committee, Minister of Science and Technology Nguyen Quan; together with representatives of agencies, boards, branches, domestic enterprises, and overseas Vietnamese enterprises. PhD., Lawyer Le Dinh Vinh - Director of Vietthink Law Firm was also a special guest at this event.

Mr. Nguyen Phu Binh – Chairman of ALOV gave out his speech at the Opening ceremony of INVESFOV on January 14th, 2022.

Stating at the opening ceremony, ALOV Chairman Nguyen Phu Binh said that after a period of preparation with the cooperation of agencies, departments and sectors, including the active supports of the State Committee for Foreign Affairs of Vietnam, and the Vietnam National Front, the Investment Support Forum for Foreigners was officially opened and put into operation.

“The decision to open the Investment Support Forum for NVNONN demonstrates our determination to realize the spirit and content of Conclusion No. 12 of the Politburo issued in August 2021 in encouraging and motivating our compatriots living abroad close-knitted themselves to their homeland, creating favorable conditions for them to effectively contribute to the cause of national development in the spirit of "benefiting the country, benefiting the family"…

Currently there are about 5.3 million Vietnamese are living, working and studying in more than 130 countries and territories around the world. The overseas Vietnamese community has been contributing significant financial and intellectual resources to the development of the country. According to the World Bank, since 2017, Vietnam has always been in the top 10 developing countries attracting the most remittances in the world, despite the difficulties of the Covid-19 epidemic in the last two years. In 2020, the total amount of remittances sent to Vietnam will reach 17.6 billion USD and this figure is estimated to reach 18.1 billion USD in 2021.

However, investment activities of foreign workers back to homeland have not developed strongly and not commensurate with existing resources. One of the reasons cited by Mr. Hoang Dinh Thang - Chairman of the Union of Vietnamese Associations in Europe is that not many overseas Vietnamese have regular contact with and have full information about projects, as well as understanding the current legal policy on business investment in Vietnam.

Therefore, INVESFOV Forum was born to serve overseas Vietnamese individuals, organizations and businesses, foreign and domestic individuals, organizations and businesses to cooperate with overseas Vietnamese in making investment in Vietnam. The forum is also to provide information on legal policies; support investment procedures and help remove difficulties for compatriots when investing back home.

Delegates attended the Opening Ceremony of INVESFOV on January 14th, 2022. PhD., Lawyer Le Dinh Vinh - Director of Vietthink Law Firm standed at the 5th position from left to right.

At the ceremony, Deputy Foreign Minister Pham Quang Hieu highly appreciated ALOV's initiative to establish the INVESFOV Forum to support overseas Vietnamese to promote investment in their homeland. This is a practical initiative, in line with the requirements of diversifying capital flows, promptly meeting the large capital needs of projects and programs to stimulate the economy, expand domestic production, and important. The financial cash flow of the Vietnamese will contribute to build an independent and self-reliant Vietnamese economy.

Deputy Foreign Minister Pham Quang Hieu spoke atthe opening ceremony of INVESTFOV on January 14th, 2022.

The Deputy Minister also emphasized that the Forum's operating principle is that the source of remittances for investment in national construction is increasing in value, investment safety, transparency in origin, and effective use for foreign investors, all parties and be refunded both principal and interest abroad in foreign currency after fulfilling tax obligations in accordance with Vietnamese laws, the laws of the host country and international laws and practices.

The Deputy Minister hopes that, in the future, ALOV will continue to coordinate with the Ministry of Foreign Affairs and agencies, departments and sectors to join hands and solve difficulties and problems of overseas Vietnamese when returning to their homeland to live and start their business, meet the legitimate aspirations of the people. At the same time, promote the implementation of the work of attracting human resources with higher requirements than the Conclusion No. 12 of the Politburo on the work of foreign workers set out for domestic agencies and organizations, not only "attracting" but also "facilitate", "allocate and effectively use resources".

Vietthink News.

Last updated: 01/26/2022