PM pledges to further support enterprises at Vietnam Business Forum 2023

The Vietnamese Government commits to creating all possible conditions for businesses to growth further, Prime Minister Pham Minh Chinh affirmed at the Vietnam Business Forum 2023 (VBF 2023) in Hanoi on March 19.

Reviewing the country’s socio-economic recovery and development achievements in 2022, the PM said the macro economy remained stable, major economic balances were ensured, and notably the domestic investment and business environment was improved significantly.

During the post-COVID-19 period, the foreign investment disbursement went up 13.5% as compared with 2021, which reflected Vietnam’s attractiveness in the regional and global investment maps, he said.

Chinh stressed that the Vietnamese Party and State advocate green growth in order to ensure rapid, effective and sustainable economic development, contributing to implementing the 2021-2030 socio-economic development strategy.

However, green growth needs a suitable roadmap, with conditions and capacity of each region, locality and business taken into consideration, he noted, encouraging the engagement of all, particularly businesses and people, in this regard.

The Government will work to consolidate institutions, mechanisms and policies to create a favourable, equal business environment, while raising national competitiveness, he pledged.

More attention will be paid to removing difficulties facing enterprises, promoting transparency in resources access, protecting legal rights and interests of businesses, employers, employees and relevant sides, and rolling out concertedly and effectively policies supporting firms in terms of capital, technical transfer, and personnel development, the PM continued.

Vietnam will concertedly develop goods and services, financial-monetary, and stock markets, he said, assigning specific tasks to the Ministry of Planning and Investment, ministers and heads of concern agencies.

The Government will instruct ministries, agencies and localities to make the strongest determination to reap more achievements this year, recover and spur the national economy, ensure harmony in cultural and social development, maintain national sovereignty and political stability, and ensure peace and happiness for people, he pledged.

Lauding the business forum’s important contributions to national socio-economic development and business environment improvement over the past 25 years, Chinh expressed his hope that it will continue serving as a crucial, effective policy dialogue between the Government and the business community.

The annual forum, co-organised by the Vietnamese Ministry of Planning and Investment, the World Bank, the International Finance Corporation and the Vietnam Business Forum Alliance, has served as an uninterrupted and close dialogue mechanism between the Government and the domestic and foreign business communities in order to improve business conditions to promote the development of the domestic private sector and facilitate the investment environment, thus contributing to Vietnam’s sustainable economic growth.

At the event, Minister of Planning and Investment Nguyen Chi Dung reported that Vietnam’s economic scale exceeded 400 billion USD for the first time last year, with a growth rate of 8.02%.

The export-import revenue hit a record of 732 billion USD, making Vietnam enter the list of the top 20 in terms of trade growth worldwide.

At the forum, representatives from the WB, international financial organisations and business associations from Europe, the US, the Republic of Korea, the UK and Japan expressed their admiration for socio-economic achievements Vietnam has recorded, especially those made during the pandemic combat, and praised the country’s efforts in improving the domestic investment and business environment.

Hailing Vietnam’s net zero emission commitment by 2050 and the Government’s efforts in fulfilling the target, they committed to supporting the Government in promoting green growth.

They also suggested Vietnam speeding up energy transition, maximising its potential for digital economy and innovation, perfecting institutions, making procedures transparent, and simplifying immigration procedures, among others.

Following the forum, PM Chinh attended a ceremony marking its 25th anniversary.