Vietnam Businesses: Nation’s Motivation for Economic Development

 “Vietnam businesses - Nation’s motivation for economic development” is the theme of the Prime Minister's Meeting with Businesses 2016 slated to take place on April 29, 2016. To carry out the Resolution of the 12th National Party Congress and the Resolution of the 13th National Assembly on the five year socioeconomic development plan (2016-2020), at the request of the Vietnam Chamber of Commerce and Industry (VCCI), the Prime Minister agreed to assign VCCI to coordinate with the Office of Government and the Ministry of Planning and Investment to organise the Prime Minister's Meeting with Businesses 2016.

 

The meeting will aim to convey the Prime Minister's message: Business is an economic development force. The Government will create the most favourable conditions for establishing start-ups and enhancing the development of businesses in both quantity and quality. Measures are proposed to set up a mechanism to facilitate enterprises' operation and address difficulties and obstacles facing businesses.

 

Prime Minister Nguyen Xuan Phuc asked ministries, agencies, Municipal and Provincial People’s Committees to report on the settlement of difficulties and obstacles, and propose ideas for a better environment for businesses, which should be sent to the Ministry of Planning and Investment and the Office of Government.

 

VCCI is responsible for preparing a report on business operations, putting forth suggestions to create a favourable, healthy and equitable business environment, announcing recommendations of the business community and of its own; sending their collected information to the Ministry of Planning and Investment for consideration and to ministries and provincial/municipal people's committees concerned for answers, and to the Office of Government for reporting to the Prime Minister.

 

VCCI has collaborated with the People's Committees of Hanoi and Ho Chi Minh City to draft their commitments to creating the best business environment for local businesses.

 

The Prime Minister has required the Chairpersons of Hanoi People's Committee and Ho Chi Minh City People’s Committee to sign commitments with VCCI on creating the most favourable environment for local enterprises under the witness of the Prime Minister.

 

The Prime Minister will supposedly meet with about 300 representatives of private enterprises, 50 foreign invested enterprises and 20 business associations, such as AmCham, EuroCham, KorCham, etc.

 

At the first cabinet meeting on April 12, just after he took office, Prime Minister Nguyen Xuan Phuc said, "Enterprises are now in dire difficulty. The number of corporate bankruptcies and suspensions increased. We must take immediate actions to solve these. We cannot let businesses be exhausted.” He affirmed that the strong growth of the business will create breakthroughs in socioeconomic growth and development.

 

The Prime Minister also requested relevant agencies to submit to the Government documents concerning the issue of the 2016 edition of Resolution 19/NQ-CP with regard to improving the investment and business climate and enhancing national competitiveness, which is expected to have more specific solutions aimed at bringing Vietnam to the group of four best ASEAN countries.

 

Giving emphasis to the standpoint that "The good competency of the Government comes from good institutional building", Prime Minister Phuc required Cabinet members to work with the spirit of construction and focus to propose stronger mechanisms and policies and generate resources for development.

 

Each cabinet member must have action plans for building and perfecting institutions and policies because this is the path-breaking stage in national development. It is essential to remove any barriers to institutions and methodologies and prevent corruption.