Publication date:
2009

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2015 review of Viet Nam's investment policies

Policy Framework for Investment

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ASEAN-OECD Investment Programme 

This publication presents the results of the first OECD Investment Policy Review of Viet Nam using the Policy Framework for Investment.

The progress Viet Nam has achieved in less than two decades in putting into place a legal framework and implementing policies that mobilise private investment, including international direct investment, to support economic growth and the prosperity of Viet Nam’s citizens has been remarkable. Starting from a situation in which the economy was essentially closed to private and international investment, Viet Nam is now considered to be one of the very attractive economies in the world for investment.

Nevertheless, Viet Nam’s economic reform process has not been completed. The Review shows that many challenges lie ahead to foster entrepreneurship and accelerate economic and social progress. The Review’s roadmap for further investment policy reform includes: streamlining licensing procedures for both foreign and domestic investors; improving communication and co-ordination across national and provincial levels of government; reforming the land market to facilitate their access to SMEs and other investors; enforcing more effective remedies for breach of intellectual-property rights; strengthening competition authorities, ensuring full implementation of WTO commitments in the area of legal, financial and other areas of standard business services; and reducing and unifying tax and other special investment incentives schemes.

This Review reflects the OECD’s mission to help all governments improve their investment climates through peer learning and the sharing of best practices, as well as its resolution to enhance engagement with South-east Asian partners. It benefited from the support of the Australian Treasury, AusAID and the Ministry of Foreign Affairs of Japan.

TABLE OF CONTENTS

• Key findings and a roadmap for future reforms
  
  
• Viet Nam’s evolving position in the global economy
  
  
• Viet Nam’s policy framework for investment