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Date 26/06/2019-14:49:00 PM
Roles of the business community in rapid and sustainable development
(MPI) - This is the theme of the Midterm Vietnam Business Forum 2019, organized by the Ministry of Planning and Investment in collaboration with the World Bank (WB), International Financial Institutions (IFC) and Vietnam Business Forum Consortium on June 26, 2019, in Hanoi. Deputy Prime Minister Trinh Dinh Dung attends the Forum.

Speaking at the opening of the Forum, Minister Nguyen Chi Dung said that the Vietnam Business Forum (VBF) is a vital Forum that has achieved many successes, the Government and the community of enterprises, entrepreneurs, investors, has openly and frankly discussed, shared and exchanged the issues raised by the economy, production, business, development and connection of enterprises to jointly build a favorable business and investment environment, build and strengthen trust, contribute to promoting fast and sustainable economic development.

2018 is a successful year of the Vietnamese economy, which return to the rapid growth trajectory with a GDP growth rate of over 7% after many years, recognizing the determination and efforts of both the political system and the valuable contributions of the business community, domestic and foreign investors. The number of enterprises increased rapidly, reaching a record level of 131 thousand newly established enterprises with a total registered capital of up to 1.4 million of billion VND. Foreign direct investment (FDI) also grew strongly, especially in the context of fluctuating global investment flows, reaching 36.3 billion USD of registered capital and 19.1 billion USD of realized capital, the highest in the last 10 years.

However, in the first 6 months of 2019, the domestic and international context and situation has had many complicated, unpredictable changes, with intertwined obstacles and challenges. The World’s economy and trade show signs of slow growth, trade conflicts between major economies are increasing and there are no signs of cooling down, international financial and monetary markets are hiding various of risks, climate change, natural disasters, epidemics are increasingly severe.

The domestic economy still faces many internal difficulties and challenges, that cannot be solved thoroughly in the short term, the quality of growth is still slowly improved, not yet sustainable, labor productivity and competitiveness are still low, the domestic economic sector has not yet deeply participated in the global production network and value chain. Participation in new free trade agreements (FTAs) such as CPTPP, FTA with the EU is a great pressure on the requirements of sustainable development, deeply and widely integration, effectiveness of Vietnam's economy.

In order to overcome these shortcomings, the Government of Vietnam is persistent and determined to comprehensively reform and innovate the economy in the direction of enhancing internal capacity, resilience of the economy, strengthening and maintaining the stability of the macroeconomy, clearing up growth dynamics, drastically implementing strategic breakthroughs, boosting application of science and advanced technology and effectively utilizing the fourth industrial revolution, applying digital technique, forming the Innovation Center to gather talents and connect with major technology centers in the world; at the same time, building a discipline, integrity, action, service system and continuing to create a favorable business and investment environment, promoting administrative reformation, building e-government, strictly implementing regulations on renovating and reorganizing the system, reducing the size of the workforce, restructuring the contingent of civil servants and officials, simplifying, cutting down administrative procedures, creating better, more favorable conditions, reducing costs and time for the people and businesses.

Minister Nguyen Chi Dung said that in the last time, the Government has made a lot of efforts, notably is the enthusiasm and dynamism of the head of the Government, who is taking care of many aspects of the business community, focusing on untangling difficulties and blockages. However, the effort from one side is not enough, it is necessary for the business community to take the initiative and dynamic participation in the Government’s actions, policymaking for socio-economic development and in investment and business.

The most prominent highlight of the Resolution No. 01/NQ-CP, No. 02/NQ-CP of the Government in 2019 is to focus on promoting innovation with the throughout motto of considering enterprises as the center for policies making, encouraging businesses to rise to master science, technology and participate in, become an indispensable part of the country's development, accompany the Government in all aspects of the socio-economic life, in which, enhancing the social responsibility of enterprises to contribute to harmonizing national interests, business benefits, promoting green growth and sustainable development for both the country and enterprises.

Proposals of the business community at the Forum will make positive contributions for the Government in the implementation of socio-economic development targets, greatly improving the business investment environment, enhancing competitiveness, striving to bring Vietnam into the group of leading ASEAN countries soon, heading towards the standards of Organization for Economic Co-operation and Development (OECD) and further elevating the international ranking of Vietnam, greatly promoting innovation, start-up, enterprises development, attracting selective foreign investment, prioritizing the usage of new and environmentally friendly technologies in associate with the development of fundamental industries.

VBF 2019 focuses on assessing the status and proposing solutions to arouse the power of the private economic sector as well as attracting investment in the direction of promoting innovation, creativity, assuming responsibility to the community and sustainable development.

Three sessions will take place in the Forum and after each session is a response from the Government of Vietnam. Accordingly, Session 1 contains the following contents: Criteria for rapid and sustainable infrastructure development, including, energy, investment in the form of public-private partnership, waste treatment, public transport; Strengthening sustainable access to Vietnam's capital market, developing e-Government and the digital economy.

Session 2 includes the following contents: Supporting the business community towards a sustainable economy, innovative in business; Creating a model of long-term crops, animal husbandry and fisheries with the least impact on ecosystems and environment and high added value.

In Session 3, the groups briefly presented the contents: Loosening regulations to promote rapid development associated with sustainable development, participating in the global green supply chain, aspects of management and environment; Continuing to improve customs procedures; Resolving regulations that blocking expansion or new investment; Challenges in terms of growth and sustainability./.

Ministry of Planning and Investment

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