Private sector vital for fuelling economy: PM

He reiterated the target of building a facilitating government which accompanies businesses and protects all legitimate rights and interests of investors, in accordance with principles of the World Trade Organization, bilateral agreements and the government’s commitments. The PM suggested focusing on the fields of global demand, such as agriculture, food, consumer products, and tourism instead of just concentrating on serving domestic companies as suppliers or subcontractors with low added value. PM Nguyen Xuan Phuc starts the forum. Photo: vneconomy.vn  It is necessary to expand international cooperation in trade, technological transfer, production and sales of products to the overseas markets, he recommended. The government pledges to create a transparent, safe and friendly business environment as well as create all favorable conditions for businesses, especially private and small- and medium-sized ones and startups to develop, he affirmed. He asked ministries and relevant departments to hold periodical dialogues with businesses to promptly remove their bottlenecks. The PM directed localities to prepare all necessary conditions such as land and particular policies to enable investors to do long-term business. He hoped private enterprises will embrace links and anticipate risks and difficulties to promote innovation and actively engage in international integration. The second Vietnam Private Sector Forum was organized by the Vietnam Young Entrepreneurs' Association and the Mekong Business Initiative. A survey launched before the forum opened indicates that 65 percent of businesses questioned expressed their hope for a government of action. The…... [read more]

Data in the coming week should confirm the euro zone economy is running hot, after the IMF upgraded growth forecasts and Greece returned to the debt market, although inflation figures could throw cold water on ECB plans to start tightening policy. FILE PHOTO: Customers push shopping trolleys on an escalator at the Bercy shopping centre in Charenton Le Pont, near Paris, August 29, 2013. Growth in the single currency area outstripped paltry expansion in the United States and Britain in the first quarter and the pace did not let up in the April-June period. The euro zone may not be growth champion in the second quarter, after the U.S. rebounded to an annualized 2.6 percent thanks to consumer spending and business equipment investment. But it should again fare better than Britain, whose economy failed to build momentum. A forecast expansion of 0.6 percent in the April-June period, equivalent to an annualized 2.4 percent, would be the third consecutive quarter in which the euro zone has grown at or above a half percentage point, for the first time since 2007-08. "The global economy has been a jumbo jet running on just one engine for the last five, six years, the U.S., but now it seems there's more from the euro zone as well, with encouraging signs from Asia too," said James Knightley, chief international economist at ING. Data on Friday showed the euro zone's second-largest economy, France, grew by 0.5 percent for a third successive quarter, while Spanish GDP returned to…... [read more]

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]

NDO/VNA – Private enterprises should continuously reform and increase their competitiveness in order to contribute 50%-60% of the national gross domestic product GDP), Prime Minister Nguyen Xuan Phuc said while addressing the second Vietnam Private Sector Forum, held in Hanoi on July 31. He reiterated the target of building a facilitating Government which accompanies businesses and protects all the legitimate rights and interests of investors, in accordance with the principles of the World Trade Organisation, bilateral agreements and the Government’s commitments. The PM suggested focusing on the fields of global demand, such as agriculture, food, consumer products and tourism instead of concentrating solely on serving domestic companies as suppliers or subcontractors with low added value. It is necessary to expand international cooperation in trade, technological transfer, production and sales of products to overseas markets, he recommended. The Government pledges to create a transparent, safe and friendly business environment, as well as creating all favourable conditions for businesses to develop, especially private and small and medium-sized enterprises and startups, he affirmed. He asked the ministries and relevant departments to hold periodical dialogues with businesses to promptly remove any bottlenecks. The PM directed localities to prepare all the necessary conditions such as land and particular policies to enable investors to conduct long-term business. He hoped that private enterprises will embrace the links and anticipate any risks or difficulties to promote innovation and actively engage in international integration. The second Vietnam Private Sector Forum was organised…... [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]

“It is necessary to start the Integrity Implementation Initiative in the Business (GBIA) to promote integrity in business, which puts the accent on the cooperation between the business sector and governmental agencies.” This is one of many proposals and recommendations in solutions the Vietnam Chamber of Commerce and Industry (VCCI) submitted to the Government to help businesses to promote business integrity. Based on surveys, training and seminars and highly supported by the business community, especially SMEs, VCCI received many valuable information from enterprises on corruption challenges that they face in business. According to the VCCI survey of over 1,000 enterprises, about 20 per cent of surveyed companies reported that they were asked to pay bribery or “facilitation charges” very frequently or frequently. More than three-quarters admitted that corruption is a serious matter because it is “destroying the business environment” and once it appears it will not go away. Mr Nguyen Quang Vinh, Deputy Secretary General of VCCI, said that, within the framework of this project, VCCI has selected the Toolkit “SME Guide to Resist Corruption” by the Business Leaders Group (B20) in the Group of 20 economies (G20), exclusively compiled for SMEs and announced in 2015. In October 2016, this toolkit was announced by VCCI in Hanoi. The toolkit provides practical solutions that businesses can easily implement and practice right away to resist corruption in all forms, helping better manage risks in business affairs. In addition, the project supports companies to build up the capacity…... [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]

GE Healthcare is the medical arm of General Electric (GE), one of the first US companies established in Vietnam with a wide range of services and products to offer in the healthcare, power, and energy sectors. On July 20, GE Healthcare and Friendship Hospital unveiled the Revolution CT 256 detector rows, GE’s latest revolutionary healthcare technology, which offers superior performance while lowering risks compared with the last model. Chintan Desai, commercial general manager of GE Healthcare ASEAN, spoke with VIR’s Trung Nguyen on GE Healthcare’s development plans in Vietnam. GE Healthcare is currently co-operating with many different hospitals in Hanoi. Are there any significant differences among these arrangements? Our plan to work with hospitals largely depends on what their focuses are. Our technology portfolio is now the widest in the industry, so we do not approach a hospital with a specific product to sell in mind. We work with the hospitals, ask them about their focus areas, and recommend technology and solution based on the answers. Some hospitals are looking for training programmes, some for research, and some are focusing on public health. We will work with each hospital according to their needs. In the case of Friendship Hospital, they have a strong focus on cardiology, which is why we think the Revolution CT is the right technology solution, and the software and training packages we have built are more focused on the needs of the hospital. …... [read more]




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