PM holds dialogue with businesses

Four Deputy Prime Ministers and nine ministers will also attend the dialogue.

In a report prepared by the Vietnam Chamber of Commerce Industry (VCCI), businesses have made more than 300 recommendations concerning the business environment, enterprise restructuring, capital accessibility, land, administrative procedures, and labour relations.

As many as 224,200 businesses were licensed to begin operations between 2011 and 2013, making up nearly 41% of the total number of newly-established businesses from 1991 to 2010.  

In the first quarter of 2014, more than 18,000 businesses were established with a combined registered capitalisation of VND98 trillion, up 17% in number and 23% in capital compared with the same period of the previous year.

However, nearly 17,000 businesses were dissolved or suspended operations in the reviewed period, a year-on-year increase of 9.6%. 

In its report, VCCI has examined difficulties facing the business community and proposed viable solutions. 

VCCI president Vu Tien Loc revealed that a number of proposals are directly associated with adjustments to laws on business and investment which are being tabled for discussion.

Loc said developing the private business sector is considered the driving force in fuelling economic growth. However, businesses, especially small and medium-sized, are encountering difficulty in accessing development resources, including capital, market, and lack of incentives from the government.

Before 2006 the dialogue between the Prime Minister and businesses had been held annually and become an important forum on the business and investment environment.

Realising the importance of the business community in national economy, the Party’s Political Bureau issued a resolution in late 2011 on building and bringing into full play the role of Vietnamese entrepreneurs in the process of national industrialisation and modernisation, as well as international integration.