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Aug 02, 2017 / 11:37

Commitments and trust shown at the VPSF

Nguyen Tung - The Duong

Speaking at the 2017 Vietnam Private Sector Forum on July 31st, Prime Minister Nguyen Xuan Phuc said that the Government pledged to build a facilitating government and favor businesses. However, he also asked the enterprises to renovate with an international vision.

 
At the Vietnam Private Sector Forum, the Prime Minister has listened to suggestions, and directly discuss issued raised by the enterprise community in fields of digital economy, agriculture and tourism.
At the Vietnam Private Sector Forum, the Prime Minister has listened to suggestions, and directly discuss issued raised by the enterprise community in fields of digital economy, agriculture and tourism.
The government has made numerous commitments to help businesses. Many of them have translated into actions. Since assuming the prime-ministership, the head of the government has attended 25 investment conferences, hundreds of dialogues with enterprises as well as thematic sessions on high-tech agriculture, tourism and aquaculture. From these meetings, obstacles to business operations have been identified and addressed. Regulations and policies have been issued to improve the business environment. At the recent meeting between the prime minister and enterprises, the problem of over-inspections aroused and immediately at the end of the meeting, the head of government signed an instruction to remedy the inspection work.    
 
However, difficulties need a straight approach to be addressed. A survey conducted by the Vietnam Young Entrepreneur Association before the Forum showed that 44% of the responses said that they have missed business opportunities due to institutional barriers and limited market. Only 33% said the business environment has improved in 2016, while the rate for 2017 is 37%. With this being said, despite the right direction and effort put into the improvement of business environment, there are much work to be done. And when the key for economic growth is handed over to the private sectors alongside the commitment “let the private enterprises to operate in any fields they have advantages of”, this is the signal and motivation for enterprises to become the driving force behind the economic growth. However, private enterprises can only gain momentum if they increase their connectivity, realize potentials, focus on their advantages and utilizing capital efficiently. On the other hand, enterprises must have insight of the market, as well as knowing beforehand any risks and difficulties they may encounter. Only then with creativity, innovation and active, private enterprises can flourish and integrate in the global market.

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