PM Dung Meets NA Deputies cum Businesspeople

The National Assembly deputies stated limitations and difficulties they face in running their businesses. They hoped the Prime Minister continued guiding completion of legal framework in support of business development.

 

Deputy Nguyen Ngoc Bao, Deputy General Director of Vietnam Germany Steel Pipe Joint Stock Company, said tightened monetary and fiscal policies are wrecking on business operations as companies difficultly access bank loans for production and investment activities. He hoped the Government would have more pleasant monetary and financial solutions to widen credit access for businesses.

 

Deputy Do Van Ve, Deputy General Director of Huong Sen Group, said: It is said that some foreign companies are standing behind Vietnamese partners to purchase debts. However, they do not bring real money to Vietnam but only debts on papers and they use this to increase pressures on Vietnamese banks. In Haiphong City, five companies were reported to sell in this manner. He hoped that the Government should take this situation into account to have proper and timely treatments in order to avoid being manipulated by foreigners. This may lead to the loss of State power in some key economic sectors.

 

Deputy Dang Thanh Tam, President of Saigon Invest Group, said: [Foreign] capital flows into Vietnam are more substantive. Cash flow has been channelled into manufacturing, not into the equity market or real estate as before. Vietnam's position on the international arena is also greatly uplifted, evidenced by the attendance of Vietnam’s leaders in bilateral and multilateral economic activities or forums in the world.

 

Prime Minister Nguyen Tan Dung expressed his belief that National Assembly deputies cum businesspeople will do the best of their roles and work closely with the Government to regulate the macro economy, reduce inflation and achieve economic growth target.