Private enterprises strive to contribute 50-60 pct of GDP: PM

The private sector is an important driver of economic development, said Prime Minister Nguyen Xuan Phuc at the second Vietnam Private Sector Forum held in Hanoi on July 31. At the second Vietnam Private Sector Forum The event was organised by the Vietnam Young Entrepreneurs' Association and the Mekong Business Initiative. The PM said the Government is well aware of the role of the private sector, which was highlighted under the 12th Party Central Committee’s fifth meeting Resolution. He suggested removing all barriers while creating the best conditions for the private sector to develop.  Government conferences and dialogues have spent plenty of time on matters the private sector encounters, he noted. The Government has also accompanied businesses and pushed ahead with institutional reform to improve the business environment and facilitate business operation, he said. The PM affirmed that the key to economic growth lies in the private sector, reiterating the Government’s aim to enable the sector. He encouraged the business community to raise their voice and help the Government boost the economy. He cited a representative of the World Bank as saying “Vietnam has a bright future thanks to the private sector and people.” Chairman and CEO of the technology company FPT Corporation Truong Gia Binh said if all favourable conditions are carried out for private enterprises according to the Government’s policies, the private sector’s growth will reach from 15 percent to 50 percent in the future. A survey launched before the forum opened indicates that 65 percent of businesses…... [read more]

At the second Vietnam Private Sector Forum (Photo: VNA) Hanoi (VNA) – The private sector is an important driver of economic development, said Prime Minister Nguyen Xuan Phuc at the second Vietnam Private Sector Forum held in Hanoi on July 31. The event was organised by the Vietnam Young Entrepreneurs' Association and the Mekong Business Initiative. The PM said the Government is well aware of the role of the private sector, which was highlighted under the 12th Party Central Committee’s fifth meeting Resolution. He suggested removing all barriers while creating the best conditions for the private sector to develop.   [Vietnam Business Development Forum focuses on private sector growth] Government conferences and dialogues have spent plenty of time on matters the private sector encounters, he noted. The Government has also accompanied businesses and pushed ahead with institutional reform to improve the business environment and facilitate business operation, he said. The PM affirmed that the key to economic growth lies in the private sector, reiterating the Government’s aim to enable the sector. He encouraged the business community to raise their voice and help the Government boost the economy. He cited a representative of the World Bank as saying “Vietnam has a bright future thanks to the private sector and people.” Chairman and CEO of the technology company FPT Corporation Truong Gia Binh said if all favourable conditions are carried out for private enterprises according to the Government’s policies, the private …... [read more]

The results of the CEO Confidence Index (CEO.CI) survey, launched for the first time at the second Vietnam Private Sector Forum 2017 (VPSF), reported 58 out of 100 points, quite low compared to the expectations of investors and enterprises. VPSF 2017 will centre its activities around the survey results Among the survey index results, the figure expressing the evaluation of investors and enterprises of the Vietnamese business environment was 46 points. Besides, between 33-37 per cent of surveyed enterprises see advantages in their business sectors in Vietnam and 63 per cent admitted intentions to expand their operations in Vietnam in the next two years. 44 per cent of respondents lost opportunities for business operation due to legal barriers, including administrative procedures, tax policies, as well as difficulties in land access and capital arrangement. These are general barriers, but there are numerous specific problems in three key areas discussed at the forum, namely agriculture, tourism, and the digital economy. The negative results of the CEO.CI show the modern thinking of the young businessmen of the Vietnam Young Entrepreneurs’ Association (VYEA). They dare to speak the truth to look for solutions to improve the business environment in Vietnam. Notably, they proposed a list of short- and long-term solutions for each sector. These solution were collected from consecutive dialogs between the survey group and representatives of ministries, departments, and leaders of cities and provinces. The survey…... [read more]

NDO/VNA – The private sector is an important driver of economic development, said Prime Minister Nguyen Xuan Phuc at the second Vietnam Private Sector Forum held in Hanoi on July 31. The event was organised by the Vietnam Young Entrepreneurs' Association and the Mekong Business Initiative. The PM said the Government is well aware of the role of the private sector, which was highlighted under the 12th Party Central Committee’s fifth meeting Resolution. He suggested removing all barriers while creating the best conditions for the private sector to develop. Government conferences and dialogues have spent plenty of time on matters the private sector encounters, he noted. The Government has also accompanied businesses and pushed ahead with institutional reform to improve the business environment and facilitate business operation, he said. The PM affirmed that the key to economic growth lies in the private sector, reiterating the Government’s aim to enable the sector. He encouraged the business community to raise their voice and help the Government boost the economy. He cited a representative of the World Bank as saying “Vietnam has a bright future thanks to the private sector and people.” Chairman and CEO of the technology company FPT Corporation Truong Gia Binh said if all favourable conditions are carried out for private enterprises according to the Government’s policies, the private sector’s growth will reach from 15 percent to 50 percent in the future. A survey launched before the forum opened indicates that…... [read more]

NDO/VNA – The private sector is an important driver of economic development, said Prime Minister Nguyen Xuan Phuc at the second Vietnam Private Sector Forum held in Hanoi on July 31. The event was organised by the Vietnam Young Entrepreneurs' Association and the Mekong Business Initiative. The PM said the Government is well aware of the role of the private sector, which was highlighted under the 12th Party Central Committee’s fifth meeting Resolution. He suggested removing all barriers while creating the best conditions for the private sector to develop. Government conferences and dialogues have spent plenty of time on matters the private sector encounters, he noted. The Government has also accompanied businesses and pushed ahead with institutional reform to improve the business environment and facilitate business operation, he said. The PM affirmed that the key to economic growth lies in the private sector, reiterating the Government’s aim to enable the sector. He encouraged the business community to raise their voice and help the Government boost the economy. He cited a representative of the World Bank as saying “Vietnam has a bright future thanks to the private sector and people.” Chairman and CEO of the technology company FPT Corporation Truong Gia Binh said if all favourable conditions are carried out for private enterprises according to the Government’s policies, the private sector’s growth will reach from 15 percent to 50 percent in the future. A survey launched before the forum opened indicates that…... [read more]

The second Vietnam Private Sector Forum (VPSF), chaired by Prime Minister Nguyen Xuan Phuc, is scheduled to be held on July 31 at Melia Hanoi. The first Vietnam Private Sector Forum in 2016 With the theme “From the Party Central Committee's Resolution 5 to the Action Programme of the Private Sector in Vietnam,” the forum will focus on discussions and dialogue between the government and the private sector in three key areas: agriculture, tourism, and the digital economy. Besides, trade facilitation, which is considered essential to the development of economic sectors, will be an important topic for discussion. In the framework of the forum, the signing ceremony of a memorandum of understanding (MoU) between the Vietnam Young Entrepreneurs’ Association (VYEA) and the Mekong Business Initiative (MBI) will be held to co-operate to develop the forum in the upcoming years. After the forum, the organisation board will publish VPSF’s White Book in August. This year the forum will welcome 1,000 delegates, representing the government, ministries, departments, leaders of cities and provinces, international organisations, and business associations, as well as economic experts and numerous CEOs from Vietnamese and foreign enterprises. VPSF is an initiative of VYEA and MBI, funded by the Asian Development Bank (ADB) and the Australian Government. The forum is considered a bridge between the government, public authorities, and the private sector for continuous and close consultation on public and private…... [read more]

The 2nd National Congress of the 2005-2008 Association of Vietnam Young Entrepreneurs opened in Hanoi on Friday. The congress drew the participation of more than 500 outstanding representatives of different industries and sectors across the country, and young entrepreneurs working abroad. In the 2002-2005 term, the association achieved positive records in implementing five action plans - technology renewal, international economic integration, building youth programmes, volunteering to help young people set up businesses, and volunteering for community life. A number of major activities, including the Sao Do (Red Star) Awards, Sao Vang Dat Viet (Gold Star of Vietnam) Awards and Lightening Young Talents, have been held during the past three years and have proved to be effective in assisting young entrepreneurs and affirming the role of the association.To date, the association has 51 business clubs with more than 4,000 members. Under the motto "Businesses unite, invent, integrate and develop to build a strong Vietnam", the congress discussed measures to effectively implement action plans. The focus was on five programmes - improving international competitiveness and building trademarks for Vietnamese enterprises; building business prestige; young Vietnamese entrepreneurs join hands for development; young Vietnamese entrepreneurs work together for community development, and developing youth movements in each enterprise and building partnership. The same day, the association presented Red Star Award prizes to the 10 best outstanding young entrepreneurs of the year. The organisation board will also present the 2005 Young Entrepreneur Golden Cup to nine enterprises, which were short-listed for the 2005 Red Star Awards.Also…... [read more]

The agreement was made at a meeting between President of the Vietnam Youth Association Nong Quoc Tuan and visiting Chairman of the Children, Youth and Sports Affairs Committee of the Bulgarian National Assembly Ivanov Spassov in Hanoi on June 13. Mr Spassov expressed his wish to learn about Vietnam’s Law on Young People as Bulgaria is compiling a similar law. He took special interest in the organization and operation of the Vietnam Young Entrepreneurs Association. While in Vietnam from June 11-17, the Bulgarian delegation was received by Vice Chairman of the Vietnam National Assembly Nguyen Phuc Thanh and Permanent Deputy Prime Minister Nguyen Sinh Hung. They also held working sessions with the NA Committee for Culture, Education, Youth and Children; the National Sports and Physical Training Committee; and the Family, Population and Children Committee. The delegation will then tour the northern coastal province of Quang Ninh, the central province of Thua Thien-Hue and HCM City.... [read more]

Mr Thanh said that Vietnam can learn a lot from Bulgaria as the two countries share similarities in national development and integration. Mr Spassov, who is also Vice President of the Bulgaria-Vietnam Friendship Parliamentarians Group, said the bilateral political relationship should be further developed and economic ties should be increased. Bulgaria attaches importance to promoting its ties with Vietnam, said the Bulgarian guest, adding that the two countries should facilitate the exchange of their youths in an effort to foster mutual understanding. At another reception for the delegation of the Bulgarian NA’s Children, Youth and Sports Affairs Committee the same day, Permanent Deputy Prime Minister Nguyen Sinh Hung said that Vietnam and Bulgaria have huge potentials for cooperation development in various fields in order to bring bilateral ties to a new height. Through Vietnam, Bulgaria can expand its markets in Southeast Asia and Bulgaria can help Vietnam penetrate deeper into the European market, said Deputy PM Hung. Also on June 12, the Bulgarian delegation held talks with the Vietnamese NA’s Committee for Culture, Education, Youth and Children. They also held working sessions with the Physical Training and Sports Committee and the Family, Population and Children Committee of Vietnam. While in Vietnam from June 11-17, the Bulgarian delegation expects to work with the leaders of the Vietnam Youth Union and the Vietnam Young Entrepreneurs Association and tour northern Quang Ninh province, central Thua Thien-Hue province and HCM City.... [read more]

The talk was co-organised by the Government Office, the Vietnam Youth Union and the central committee of the Vietnam Young Entrepreneurs’ Association. Deputy Prime Minister, Nguyen Sinh Hung, highlighted efforts made by enterprises, especially young entrepreneurs, in controlling inflation and economic slowdown. Mr Hung emphasized that the government’s solutions are aimed at preventing the further decline, maintaining sustainable economic growth and ensuring social security, affirming that enterprises and the government should join hands to overcome difficulties. He also urged enterprises to fully tap into their strengths to boost production, stabilise the domestic market, penetrate the international market and use the government’s stimulus package effectively. Vice Chairman of the Vietnam Young Entrepreneurs’ Association, Nguyen Manh Cuong, also briefed participants on difficulties recently faced by enterprises and devised orientations for the future. Representatives from enterprises posed many questions to the government and relevant ministries, focusing on issues relating to policies on interest rates, export activities, administrative formalities and the business environment.... [read more]




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