VBF 2015: Vietnam promotes global integration

12:21 | 29/06/2015 Cooperation

(VEN) - The Mid-term Vietnam Business Forum 2015 on enhancing enterprise competitiveness for global integration was organized. Prime Minister Nguyen Tan Dung said that Vietnam would continue improving the business environment in a context of increasing international economic integration.

VBF 2015:  Vietnam promotes  global integration

Prime Minister Nguyen Tan Dung (second from the left) attends the VBF 2015

Unsustainable development

The Vietnamese business community agreed that Vietnam has made improvements in stabilizing the macro-economy and curbing inflation. The Vietnamese investment environment has improved in recent years, while transport and power infrastructure have been strengthened. In addition, power shortages in trade and production activities have been limited and the private business sector has effectively developed.

Minister of Planning and Investment Bui Quang Vinh said that the Vietnamese economy has become stable and inflation was controlled at a more reasonable level. Economic growth in the first quarter of this year reached 6.03 percent and this figure is expected to stand at around 6.12 percent in the second quarter. Vietnam could achieve annual economic growth of at least 6.2 percent.

Vietnam has achieved important milestones in socioeconomic development. However, the Vietnamese economy has remained unsustainable.

European Chamber of Commerce in Vietnam Vice Chairman Tomaso Andreatta said that the restructuring of state-owned enterprises has remained slow, negatively affecting the investment environment, impeding fair competition in the business community and influencing the investment decisions of multinational companies in Vietnam.

World Bank Country Director for Vietnam Victoria Kwakwa said that the Vietnamese government should make greater efforts in controlling inflation, enhancing foreign exchange reserves, improving the business and investment environment and promoting economic restructuring in order to optimize the benefits provided by free trade agreements.

Commitments

The government, ministries and departments made more commitments to improve the Vietnamese investment environment including promoting further transparency at the forum.

Minister of Planning and Investment Bui Quang Vinh said that the Vietnamese government has paid attention to poor infrastructure systems. The government issued Decree 15/2015/ND-CP on public-private partnership investments on February 14, 2015, contributing to attracting more domestic and foreign private investors to participate in infrastructure development.

Prime Minister Nguyen Tan Dung said that huge opportunities for global integration await Vietnam. The country will have free trade relations with 55 partners including 15 members in the G20 if 14 free trade agreements are completed. To promote international economic integration, the Vietnamese government will focus on improving the business and investment environment including promoting further transparency, restructuring state-owned enterprises, enhancing competitiveness, removing tariff barriers, perfecting tax policies and simplifying administrative procedures. In addition, Vietnam will strive to reach and exceed the average level of business environment indicators in ASEAN-6 by 2015 and in ASEAN-4 by 2016.

Nguyen Hoa & Nguyen Phuong

Theo ven.vn