PM Chinh affirms Vietnam’s strong support for green growth

In his speech at the annual Vietnam Business Forum 2023( VBS 2023) held in Hanoi on March 19, he said green growth needs a suitable roadmap, with conditions and capacity of each region, locality and business taken into consideration. Therefore, it is essential to incentivize the engagement of all, particularly businesses and people, in this regard, he stated.

The Vietnamese cabinet leader also pledged the best possible conditions to help local business grow and flourish in the time ahead, adding that the Government will work to revamp institutions, mechanisms and policies to create a favourable, equal business environment, while raising national competitiveness.

He reviewed the country’s socio-economic recovery and development achievements in 2022, saying that the macro economy remained stable, with ensured major economic balances and significantly improved domestic investment and business environment.

During the post-COVID-19 period, the foreign investment disbursement soared 13.5% on-year, which demonstrated Vietnam’s attractiveness in the regional and global investment maps.

Greater attention will be paid to dealing with difficulties facing enterprises, promoting transparency in resources access, refining legal rights and interests of businesses, employers, employees and relevant sides, and rolling out concertedly and effectively policies supporting firms in terms of capital, technical transfer, and personnel development, he went on to say.

Vietnam will concertedly develop goods and services, financial-monetary, and stock markets, he stated ,while assigning specific tasks to the Ministry of Planning and Investment, ministers and heads of competent agencies.

The Government will instruct ministries, agencies and localities to make the strongest determination to record more achievements this year, recover and boost the national economy, ensure harmony in cultural and social development, maintain national sovereignty and political stability, and ensure peace and happiness for people, he affirmed.

Hailing the business forum’s important contributions to national socio-economic development and business environment improvement over the past 25 years, the Government chief expressed his hope that it will continue serving as a crucial, effective policy dialogue between the Government and the business community.

The annual forum, co-organised by the Vietnamese Ministry of Planning and Investment, the World Bank, the International Finance Corporation and the Vietnam Business Forum Alliance, has served as an uninterrupted and close dialogue mechanism between the Government and the domestic and foreign business communities in order to improve business conditions to spur the development of the domestic private sector and facilitate the investment environment, thus contributing to Vietnam's sustainable economic growth.

At the event, Minister of Planning and Investment Nguyen Chi Dung reported that Vietnam’s economic scale exceeded US$400 billion for the first time last year, with a growth rate of 8.02%.

The export-import revenue hit a record of US$732 billion, making Vietnam enter the list of the top 20 in terms of trade growth globally.
At the forum, representatives from the WB, international financial organizations and business associations from Europe, the US, the Republic of Korea, the UK and Japan expressed their admiration for socio-economic achievements Vietnam has achieved, especially those made during the pandemic combat, and lauded the country’s efforts in ameliorating the domestic investment and business environment.

Applauding Vietnam’s net zero emission commitment by 2050 and the Government’s efforts in fulfilling the target, they pledged to support the Government in promoting green growth.

They also suggested the nation step up energy transition, maximise its potential for digital economy and innovation, fine-tune institutions, make procedures transparent, and simplify immigration procedures.
The same day, PM Chinh attended a ceremony marking the forum's 25th anniversary.

He voiced his hope that the VBF continues to serve as an important and effective policy dialogue channel between the Government and the business community in order to promote the results achieved during 25 years of dialogue.