Prime Minister hails businesses’ entrepreneurial spirit
Updated : Wednesday, December 05, 2018 10:55 AM (GMT+0700)

The entrepreneurialspirit of businesses is a stimulus for the Government to act more drasticallyand innovatively, said Prime Minister Nguyen Xuan Phuc at the annual VietnamBusiness Forum (VBF) 2018 in Hanoi on December 4.

Prime Minister Nguyen Xuan Phuc (standing) addresses the Vietnam Business Forum
- Photo VNA

The PM highlighted the forum as an important dialogue channelbetween the Government and the business community.

He noted all constructive opinions of enterprises andappreciated their enthusiasm and aspirations to make more contributions to thecountry’s development.

The Government leader believed that businesses can find a lotof cooperation opportunities despite strong impacts from the global tradeissues.

He underlined Vietnam’s significant economic accomplishmentsover the past time, noting that the national economic growth is projected at 7percent in 2018, the highest level over the past decade and much higher thanthat of other countries in the region.

Along with the achievements, Vietnam has become a “bigworkshop” of the world and a “fulcrum” for many transnational corporationsproviding competitive products and services in the region and the globe, hesaid.

The presence of leading groups in Vietnam such as Samsung,Intel, Canon, Fujitsu, Toyota, Honda, Nike, and Vinacapital as well asthousands of foreign direct investment (FDI) enterprises is a guarantee of thequality of the investment environment and growth prospects of Vietnam, he said.

The strong growth of private economic groups indicates thatthe business climate in Vietnam could give birth to large internationallycompetitive enterprises, the PM added.

Vietnam now has more than 20 export items worth over onebillion USD, he said, adding that agricultural products such as rice, pepper,coffee, and basa fish are leading the global market. Fruits like dragon fruit,mango, longan, lychee, rambutan, and grapefruit are exported to such choosy marketsas the US, Europe, Japan, the Republic of Korea, and Australia.

The PM emphasised on the country’s consistency in the tradeliberalisation and economic integration with the signing of and negotiations on16 free trade agreements (FTA) which enable Vietnam’s access to more than 60economies including 15 countries in G20 and offer opportunities to engage moredeeply in the global value chains and production networks.

He suggested businesses promote their strengths to increasecompetitiveness instead of depending on the Government’s support.

He called on international groups and foreign firms to adoptmore open supply policies as well as create more opportunities for Vietnamesebusinesses to join deeply in the global value chains. 

The Government is determined to maintain socio-politicalstability and macro-economic foundation, he said.

“The Government is committed to stepping up structural reformand improving institutional quality and State governance at both central andlocal levels in addition to reforming State businesses and the financialsystem, handling bad debts, and bettering public debt management...It will workharder to unlock bottlenecks for faster and more sustainable growth”, he said.

He added that the Government will speed up efforts to improvethe business environment and increase national competitiveness. 

VBF serves as a dialogue mechanism between the Government ofVietnam and the national and international business communities to improvebusiness conditions necessary to foster the development of private enterprises,facilitate the investment environment, and contribute to Vietnam’s sustainableeconomic growth.

Source: VNA

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