By Anh Minh  December 5, 2018 | 09:03 am GMT+7 A man works at a mechanical factory in Hanoi. Photo by Reuters/Kham Vietnam is now a “big factory” for the world, a testament to its attractiveness to investors, Prime Minister Nguyen Xuan Phuc has said. Speaking at the 2018 Vietnam Business Forum (VBF 2018) in Hanoi Tuesday, he said: “The presence of many leading corporations in Vietnam such as Samsung, Intel, Canon, Fujitsu, Toyota, Honda, Nike, and Vinacapital signals the quality of the investment environment and growth prospects of Vietnam.” The country is home to some 27,000 foreign companies who have invested more than $335 billion to date. To facilitate businesses’ operations, the government would prioritize investment in technology, research and development and infrastructure, the PM promised. Vu Tien Loc, chairman of the Vietnam Chamber of Commerce and Industry, quoted businesses as saying start-ups and electricity have seen the most reforms. At the other end of the spectrum are bankruptcy regulations, investor protection and export/import formalities, he said. He wanted the government to continue its efforts to improve the investment environment. Though some 50 percent of the paperwork has been dispensed with, a VCCI survey last year found that 58 percent of businesses had to apply for licenses, with 42 percent facing difficulties, he revealed. Saying it is necessary to improve the mechanisms for resolving problems faced by companies, he called for setting up an independent agency to oversee the resolution process.