Econ
Vietnam Business Forum takes place in Hanoi
On December 1, annual Vietnam Business Forum 2015 takes place in Hanoi with the theme “Enhancing Enterprise Competitiveness for Global Integration”. The forum was attended by Deputy Prime Minister Vu Van Ninh.
The event was of great significance towards Vietnam as it has been in the final phase of the five-year socio-economic development plan to become a modern industrialized nation by 2020.
Mrs. Virginia B. Foote. Co-Chair of VBF Consortium's Management Board said since the mid-term forum in June, there has been remarkable progress in important matters concerning enterprises in Vietnam. She expressed hope to continue working in the fields which attract the attention of both local and foreign businesses to ensure that Vietnam has made thorough preparations to take full advantage of the signed FTAs.
She also highlighted the Vietnamese government’s efforts to bring Vietnam’s accounting system closer to international standards. VBF has become an annual prestigious event and is considered an effective dialogue between the Vietnamese government and the business community, said Minister Vinh.
Meanwhile, Mr. Shimon Tokuyama, Japan Chamber of Commerce and Industry, has made recommendations that "urging the Government to consider positively about loosening regulations relating to limit capital contribution ratio in listed companies, public companies and state enterprises. So from the point of diversifying forms of investment, the investor community in Japan expect the conditions of incorporation of foreign ownership will be clarified and the procedures will be simplified. "
Regarding to tax law to the automotive industry, after tariff barriers within the ASEAN region for the automotive industry that will be removed in 2018, Mr. Simon said: "we hope that the incentives for production domestic, mainly financial support will be clearly stated to the automotive business that continue to be produced in Vietnam."
Mr. Shimon frankly spoke that 2018 is coming with a premise compliance with WTO commitments, we hope that the Government will soon study of the application of effective policies, such as "some subsidies for domestic manufacturers."
In his opening speech, Minister of Planning and Investment Bui Quang Vinh said Vietnam’s institutional reforms and economic restructuring are taking place drastically. Therefore, there should be solutions to improve labour productivity, and speed up public administrative reforms and the fight against corruption.
Minister Vinh said in spite of some improvements in Vietnam’s business climate, there remains a lot of things to be done ahead. He stressed the need to make Vietnamese businesses more competitive and complete policies in the context when Vietnam has become a member of a series of important free trade agreements (FTAs).
However, the minister also admitted, besides the positive results achieved, Vietnam's economy still faces many difficulties and challenges, administrative reforms in many areas remained slow.
The business environment is still weak, the competitiveness of enterprises is limited. Meanwhile, Vietnam is perfecting the market economy and have much work to do, especially in the context of greater integration into the world economy.
Overview of the forum
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Mrs. Virginia B. Foote. Co-Chair of VBF Consortium's Management Board said since the mid-term forum in June, there has been remarkable progress in important matters concerning enterprises in Vietnam. She expressed hope to continue working in the fields which attract the attention of both local and foreign businesses to ensure that Vietnam has made thorough preparations to take full advantage of the signed FTAs.
She also highlighted the Vietnamese government’s efforts to bring Vietnam’s accounting system closer to international standards. VBF has become an annual prestigious event and is considered an effective dialogue between the Vietnamese government and the business community, said Minister Vinh.
Meanwhile, Mr. Shimon Tokuyama, Japan Chamber of Commerce and Industry, has made recommendations that "urging the Government to consider positively about loosening regulations relating to limit capital contribution ratio in listed companies, public companies and state enterprises. So from the point of diversifying forms of investment, the investor community in Japan expect the conditions of incorporation of foreign ownership will be clarified and the procedures will be simplified. "
Regarding to tax law to the automotive industry, after tariff barriers within the ASEAN region for the automotive industry that will be removed in 2018, Mr. Simon said: "we hope that the incentives for production domestic, mainly financial support will be clearly stated to the automotive business that continue to be produced in Vietnam."
Mr. Shimon frankly spoke that 2018 is coming with a premise compliance with WTO commitments, we hope that the Government will soon study of the application of effective policies, such as "some subsidies for domestic manufacturers."
In his opening speech, Minister of Planning and Investment Bui Quang Vinh said Vietnam’s institutional reforms and economic restructuring are taking place drastically. Therefore, there should be solutions to improve labour productivity, and speed up public administrative reforms and the fight against corruption.
Minister Vinh said in spite of some improvements in Vietnam’s business climate, there remains a lot of things to be done ahead. He stressed the need to make Vietnamese businesses more competitive and complete policies in the context when Vietnam has become a member of a series of important free trade agreements (FTAs).
However, the minister also admitted, besides the positive results achieved, Vietnam's economy still faces many difficulties and challenges, administrative reforms in many areas remained slow.
The business environment is still weak, the competitiveness of enterprises is limited. Meanwhile, Vietnam is perfecting the market economy and have much work to do, especially in the context of greater integration into the world economy.
