Foreign-funded businesses conferred prestigious Awards

Some 73 foreign-funded businesses were conferred the prestigious Golden Dragon Awards for their excellent performance in 2012, in a ceremony held in Hanoi on Saturday.

Chairman of the Vietnam Small and Meium-sized Enterprises Association Cao Si Kiem presents the Golden Dragon Awards to honored businesses, Hanoi, March 16, 2013

These businesses, including Chinfon Cement Corporation and Ford Vietnam, are operating in fields like finance-banking, insurance, cement and car production.

Editor-in-Chief of the Vietnam Economic Times Dao Nguyen Cat said in general, foreign investors are ready to share difficulties and pledge to pursue long-tem investment in Vietnam.

Foreign enterprises are becoming increasingly important part of the national economy and honoring them is a kind of acknowledgement and encouragement, he added.

Chairman of the Vietnam Small and Medium-size Enterprises Association Cao Si Kiem said that 2013 is still a difficult year for investors but the business environment will improve as the Government’s solutions adopted a year earlier are taking effect.

Last year, foreign investors poured over US$13 billion in Vietnam and the disbursed volume reached US$10.5 billion. This is an encouraging signal amid global economic hardship.

The sector’s export value stood at US$73 billion, equivalent to 66% of the country’s total export turnover.

During the ceremony, 100 domestic enterprises were also honored for their efforts in overcoming a series of difficulties in 2012. Typical enterprises include Ngo Gia Tu One-member Co. , Ltd, Viet Tien Garment Joint Stock Corporation, and Vincom Joint Stock Company.