VCCI’s Two Key Tasks in 2016

Together with the successful Party Congress, VCCI hasstarted new term of office with VI Convention. Attending the VCCI Convention, State President Truong Tan Sang highlighted VCCI's contribution to national development. In the last term of office, VCCI, with dynamic and creative activities, enrolled more businesses and successfully played the role as a nation-wide representative of business community, protecting their rights and interests, promoting trade and investment. VCCI has increasingly advised the Party and State on issues relating to economic development, businesses and business environment, contributing to the development of socialist-oriented market economy and international integration.

 

In fact, under the VCCI common roof, the business community has contributed several recommendations and policies, reviewing 16 laws and decrees as well as related legal documents with increasing efficiency. Practical activities of businesses together with their sense of responsibility towards the nation have manifested in their constructive recommendations.

 

At the meeting of elite businesses attending the forum “Vietnamese businesses towards ASEAN Economic Community” in late 2015, Prime Minister Nguyen Tan Dung reaffirmed: “The government wishes to have more recommendations from businesses, especially on structure and policy, to help businesses develop and compete in the ever-increasing economic integration.”

 

The Prime Minister also highlighted the contributions of the business community in socio-economic development and international integration, especially economic integration. He asserted that the 10 FTAs already concluded, as well as TPP and Vietnam-EU FTA, would attract more FDI, expand export markets, increase economic growth and help Vietnamese businesses in management and competitiveness. The Prime Minister pointed out that the biggest challenge remains the competitiveness of businesses; to develop we must integrate and integration means competition, there is no alternative.

 

According to VCCI President Vu Tien Loc, Vietnam is experiencing its biggest, profound integration. It is a most difficult path for businesses. As Vietnam must compete with world ranking economies on a level playing court, while its standards and competitiveness are much lower than those of TPP and EVFTA.

 

As a matter of fact, Vietnamese businesses are both small and weak. Although an average business employs some 200 people, compared to 15-20 people per business in developed economies, 96-97 per cent Vietnamese businesses are small or micro-businesses. Nearly 45 per cent of the workforce remains in agricultural and rural regions with low productivity and shortage of work.

 

Reforms underway on the constitution and laws, aiming at improving the business environment, upgrading national competitiveness and removing administrative hurdles so as to reach the Top 4 among ASEAN countries, have heartened businesses. However, it failed to meet the expectation of business community. Administrative reform remains below the world standard. Recent surveys by VCCI show an alarming situation; the more successful, the more businesses have to pay for administrative fees, and the more inspection and controls they are subjected to. This is part of the reason why Vietnamese businesses cannot develop.

 

VCCI President believed that in the new term of office, the Party will make a breakthrough for Vietnamese businesses and economy in the process of international integration. VCCI will develop and implement the National Business Development Plan, improving business competitiveness nationwide. For their part, Vietnamese businesses should make great efforts in upgrading the business environment and competitiveness.

 

“To attain those objectives, VCCI should restructure, increase competitiveness and work tirelessly for businesses. To ensure successful economic integration, Vietnamese businesses should try hard to become 'Mai An Tiem' (business pathfinder) in the process of perfection”, Dr Loc concluded.