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Vietnam Today

Midterm VBF 2019 hears of improving the business environment

Released at: 17:06, 26/06/2019

Midterm VBF 2019 hears of improving the business environment

Photo: Ngoc Lan

June 26 gathering in Hanoi discusses issues of importance to businesses.

by Ngoc Lan

Comments and recommendations from the business community at the Midterm Vietnam Business Forum 2019 in Hanoi on June 26 continued to focus on proposals that promote stronger institutional and legal reforms, accelerate the improvement of the business environment, enhance national competitiveness, and give more priority to investment in science and technology, research and development (R&D), infrastructure, especially smart infrastructure, and digital infrastructure to promote and take advantage of Industry 4.0.

The domestic and foreign business communities sent a very clear message: they want to not only be part of Vietnam’s growing economy and access opportunities but also be an important factor in promoting rapid and sustainable development.

The European Chamber of Commerce in Vietnam (EuroCham) said members choosing Vietnam as their home and planning to expand as much as possible is testament to Vietnam’s attraction. It expects unclear and unnecessary business conditions will be eliminated or simplified in the third quarter, in accordance with Resolution No. 02/NQ-CP.

Meanwhile, the American Chamber of Commerce in Vietnam (AmCham) wants to have a high-quality, transparent, and stable business environment, ensuring that all investors have equal opportunities.

The South Korean Chamber of Commerce in Vietnam (KoCham) expressed concern over delays in licensing certain projects in Ho Chi Minh City and infrastructure improvements affecting new investment projects.

The Japanese Chamber of Commerce and Industry in Vietnam (JCCI) mentioned the disruption to business operations when there is a change in legal regulations within a short timeframe. “Improving the business environment would boost private investment, contributing to Vietnam’s development,” said Mr. Nobufumi Miura, Chairman of the JCCI.

Deputy Prime Minister Trinh Dinh Dung said the government recognizes and appreciates the role of enterprises in rapid and sustainable growth. The international and regional situation has seen many unfavorable developments compared to previous years, but Vietnam’s economy still maintains impressive growth rates and is one of the bright spots in the region and the world. “Rapid and sustainable development is the consistent policy and viewpoint in Vietnam’s development strategy,” he added.

Minister of Planning and Investment Nguyen Chi Dung said that in recent years the government has made a great deal of effort, especially the head of the government, and paid regard to many aspects of the business community to resolve difficulties. “Effort from one side, however, is not enough, and it is necessary for the business community to take the initiative in actions and policies on socioeconomic development and investment from the government,” he said.

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