Mid-term VBF to feature businesses’ role in rapid, sustainable development

VNA/VOV

The mid-term Vietnam Business Forum (VBF) 2019 will highlight the role of the business community in rapid and sustainable development, heard a press conference in Hanoi on 25 June.

Nearly 600 delegates from government agencies, international organsiations, sponsors, and business associations are expected to partake in the event.

VBF is a dialogue mechanism between the Vietnamese government and enterprises at home and abroad, aiming to promote the development of private businesses, improve the investment environment, and contribute to national sustainable economic growth.

Working groups in investment-trade, tax-customs, infrastructure, agriculture, electricity-energy, capital market, education-training, human resources, and tourism will report at the forum.

Participants will talk about relaxing regulations to boost rapid development in association with sustainability; developing global green supply chain; reforming customs procedures to compete with neighbouring countries; addressing regulations that hinder the expansion of investment; and supporting businesses to look towards sustainable economy and innovation.

They will also mention criteria for rapid and sustainable infrastructure development including energy, public-private partnership (PPP), waste treatment, and public transport, and ways for businesses to access Vietnamese capital market in a sustainable manner, as well as development of e-government and digital economy.

Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc told the press that the theme of the forum is suitable with the current requirements of the Vietnamese economies, including reforming growth models and improving investment quality.

He said after the previous editions, more than 60% of the proposals made by VCCI and businesses have been addressed by the Government, ministries and departments.

However, business post-registration, reform and settlement of administrative procedures are still one of the concerns that the business community wants the Government, ministries and departments to pay more attention to addressing, he said.

Research from international organisations indicated that Vietnam ranks last in terms of business administration in the ASEAN-6 leading economies, he said.

Therefore, improving the business environment and administration is one of the leading tasks of the Government, ministries and departments, he stressed.

Virginia Foote, who co-chairs the forum, agreed that increasing competitiveness is the key for businesses to gain success.