Vietnam Business Forum convenes year-end session
Wednesday, December 13,2017AsemconnectVietnam - The 2017 year-end session of the Vietnam Business Forum (VBF) opened in Hanoi on December 12.
The event, an annual dialogue between the Government and business community, was co-organised by the Ministry of Planning and Investment, World Bank, International Finance Corporation, and VBF Consortium.
Opening the forum, Minister of Planning and Investment Nguyen Chi Dung said 2017 marks significant moves by the Government in building a favourable business climate, citing the issuance of Resolution 19-2017/NQ-CP on enhancing business environment and national competitiveness, and Resolution 35/NQ-CP on supporting growth of enterprises toward 2020.
Opening the forum, Minister of Planning and Investment Nguyen Chi Dung said 2017 marks significant moves by the Government in building a favourable business climate, citing the issuance of Resolution 19-2017/NQ-CP on enhancing business environment and national competitiveness, and Resolution 35/NQ-CP on supporting growth of enterprises toward 2020.
The year was earmarked for the implementation of business-cost-cutting measures, he said. According to the official, dialogues between authorities at different levels and enterprises were frequently held throughout the year, with public agencies and sector working to simplify administrative procedures and facilitate business operations.
In the first 11 months of 2017, 116,000 new firms were established, registering over US$44 billion in capital, up 14.1% and 42% from last year, respectively. Meanwhile, 24,000 companies resumed their business during the period.
Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc pointed to existing difficulties and to the numbers of 11,000 dissolved firms and of 55,000 others suspending operation during the 11-month period. The figures represented respective annual increases of 3.3% and 3%, he said.
Administrative procedures were still a big obstacle to business performance. A VCCI report on the 2016 provincial competitiveness index showed that 35% of the surveyed companies spent at least 10% of their time to handle these procedures, which one every four of them considered the biggest difficulty to their operations.
Loc suggested the Government, public agencies and sectors focus on completing the list of conditional business sectors, simplifying the procedure of specialized inspection, and cutting costs for businesses.
Hirohide Sagara, Co-Chairman of VBF Consortium's Management Board, acknowledged economic progress Vietnam achieved after joining the WTO in foreign investment attraction, living standards improvement, and market economy building.
At the same time, he said concerns remain related to the apparatus’ transparency, efficiency, and labour productivity, he said, adding that the VBF year-end session aims at tackling these concerns for better growth of the private sector in Vietnam.
Source: vov.vn
Indian research intern: Vietnam’s clean energy transition accelerates
Nordic countries share green solutions for circular economy with Vietnam
Vietnam promotes negotiations of FTA with Mercosur
Vietnamese, Dutch localities step up cooperation
Vietnam joins Multilateral Convention to tackle tax evasion and avoidance
Vietnam, Mexico see ample room for trade cooperation: workshop
Hoa Binh province exports first batch of fresh sugarcane to US
Aviation firms ready to welcome Chinese tourists
Vietnam, South Africa explore cooperation potential
Mong Cai int’l border gate facilitates Vietnam’s exports to China
Vietnam’s trade with top 11 Asian markets is set to grow significantly
Foreign direct investment projects go green
Vietnam has dual opportunity from offshore wind power: Danish Ambassador
Mini Thailand Week kicks off in Quang Ninh
Plan on implementing Decision No. 327/QD-TTG dated March ...
Concretize viewpoints, objectives, tasks and solutions of the plan in accordance with practical conditions of the locality, associating ...Plan on implementing national environmental protection ...
Implementation plan of marine aquaculture development ...
Program on conservation and development of Vietnamese ...
Plan on improving quality of human resources to 2025 and ...
Efforts taken to turn culinary culture into national ...
The Vietnam Cuisine Culture Association (VCCA) is taking steps to implement a project to build and develop Vietnamese culinary culture ...Vietnamese cuisine making a name for itself with ...
Vietnam advance to next round of AFC U20 Women’s Asian Cup
Cultural tourism and traditional values promoted through ...