(MPI) – This is the theme of annual Vietnam Business Forum 2016 (VBF) held on December 5th 2016 in Ha Noi by the MPI in collaboration with the World Bank (WB), International Finance Corporation (IFC) and VBF Consortium, under the co-chairing of Mr. Nguyen Chi Dung, Minister of the MPI; Mr. Ousmane Doine, WB Country Director for Vietnam; Mr. Kyle F. Kelhofer, IFC Senior Country Manager for Vietnam, Laos, Cambodia and Mr. Ryu Hang Ha, co-Chairman of VBF Consortium. Prime Minister Nguyen Xuan Phuc attended the Forum.
Minister of the MPI Nguyen Chi Dung speaking at the Forum opening. Photo: Duc Trung (MPI)
In the Forum opening, Minister of the MPI Nguyen Chi Dung said that 2016 could be viewed as the national business year, remarking process of overcoming difficulties, challenges and towards new era of integration, cooperation and development together. Also this year, enterprise community has been paid attention to by the whole political system and society in order to expand and deserve to be an important driving force for the growth and development of Vietnam.
After long time of global economic crisis and depression and domestic economic difficulties, with the drastic direction of the Government, Prime Minister, determination of effectively implementing Resolution No. 19/2016/NQ-CP dated April 28th 2016 of the Government on key tasks and measures to improve business environment, enhance national competitiveness in two years 2016-2017, with an orientation to 2020 and Resolution No. 35/NQ-CP dated May 16th 2016 of the Government on supporting and developing enterprises by 2020 and the effort of businesses themselves, the development of Vietnam businesses has recovered remarkably and flourished, business climate has improved, business has developed in both quantity and quality.
Whole scene of the Forum. Photo: Duc Trung (MPI)
Minister Nguyen Chi Dung required the Forum to discuss and point out the barriers for private sector development, thereby find out measures, develop effective cooperative models not only between the Government and businesses but also the cooperation among businesses, including FDI and domestic ones.
The issues to be focused are as follows:
Firstly, despite being crowded, Vietnam’s private sector is not strong enough and not accordant with international standard to integrate effectively. SMEs are abundant, diversified, making up 97% of businesses and creating many employments but it is lack of large strong and qualified enterprises to lead domestic market and integrate.
Secondly, FDI attraction to Vietnam is continuously developing, number of FDI enterprises is still increasing but there is still a gap between FDI and domestic private firms.
Thirdly, it is a lesson learnt for the state, society and businesses that projects need to ensure environmental protection from investment phase to operation. This is the prerequisite for an effective, sustainable and long-term investment projects and core issue of green growth and sustainable development.
Fourthly, due to efforts and determination of the Government and business community, competitiveness of the economy and business climate have increased on ranking, but had no breakthrough in the ASEAN region.
Fifthly, assistances of the state are very necessary, especially for SMEs. Viewpoint of the Government is “creating favorable way to develop” but enterprises should “step on their feet, cooperate and support each other to quickly go to destination”.
Speaking at the Forum, Mr. Kyle F. Kelhofer, IFC Senior Country Manager for Vietnam, Lao, Cambodia highly appreciated the efforts of Vietnam Government in maintaining macroeconomic stability, ensuring public debt under the ceiling. He believed with the emphasized role of domestic private sector, Vietnam’s economy will be flourished.
Mr. Ryu Hang Ha, co-Chairman of the VBF Consortium also congratulated the efforts of Vietnam Government in improving business climate, especially in amending list of conditional business fields./.
Ministry of Planning and Investment