Private sector vital to fuel economy: PM

Prime Minister Nguyen Xuan Phuc delivers his speech at the second Viet Nam Private Sector Forum. — VNA Photo The private sector is an important driver of economic development, Prime Minister Nguyen Xuan Phuc said at the second Viet Nam Private Sector Forum held in Ha Noi on Monday. Speaking at the event organised by the Viet Nam 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 in the 12th Party Central Committee’s fifth meeting Resolution. Reiterating the Government’s goal to enable the sector, Phuc said the endeavour is to remove all barriers, while creating the most favourable conditions for the growth of the private sector. He quoted a World Bank representative saying: “Viet Nam has a bright future thanks to the private sector and its people.” Government conferences and dialogues have spent a lot of time on problems that the private sector encounters, he noted, adding that the Government has pushed ahead with institutional reforms to improve the business environment and facilitate business operation. The PM encouraged the business community to raise its voice and help the Government boost the economy. Truong Gia Binh, chairman and CEO of technology firm FPT Corporation, said that if favourable steps are taken for private enterprises as per Government policies, the private sector’s growth will rise from 15 per cent to 50 per cent in the future. …... [read more]

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]

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]

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]

Hanoi (VNA) - A workshop was held in Hanoi on November 25 to seek ways to support women-run small- and medium-sized enterprises (SMEs). The event was jointly organised by the Vietnam Women Entrepreneurs Council (VWEC) and the Hanoi Women Association of Small and Medium Enterprises (HAWASME), the Mekong Business Initiative (MBI) and the International Labour Organisation (ILO). Addressing the event, VWEC Chairwoman Nguyen Thi Tuyet Minh said women-run enterprises have made active contributions to the State budget, economic growth, job creation and stable incomes. She also highlighted challenges facing the group from business establishment to operation, particularly in accessing financial resources, market and technology. She suggested that the Government devise incentives to encourage women’s broader participation in economic development. The Government should also make it easier for the Vietnam Chamber of Commerce and Industry (VCCI) and other associations to organise more investment and trade promotion events for women entrepreneurs, she added. HAWASME President Mai Thi Thuy highlighted the participation of women in different fields, including running businesses, adding that they face more challenges than men in such issues as gender barriers. Participants discussed the need for support for women-run businesses and shared international successful experience and initiatives for the group. They also called for practical and effective measures to promote women-run start-ups and enterprise development, such as trade promotion assistance, access to funding and competence building. Ngo Hong Diep, a gender expert from the MBI affirmed addressing gender barriers among women entrepreneurs is not only in line with the gender…... [read more]




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