Breakthrough changes in mechanisms, policies are needed for the private economic sector’s development, experts said.
Many foreign businesses have expressed their hope for better business and investment environment in Vietnam, especially consistent policies on economic development.
VOV.VN - There remains a significant gap in business environment between Vietnam and other regional countries, while administrative procedures need to be simplified, thus helping domestic firms make major breakthroughs in their development, has said Vu Tien Loc, Chairman of Vietnam Chamber of Commerce and Industry (VCCI).
Despite many difficulties and challenges, the growth of private businesses will be the highlight of Vietnam’s economy in the long term, heard a forum in Ho Chi Minh City on January 6.
Vietnam this year set a record in newly established enterprises, with 138,100 units in all economic sectors, according to the General Statistics Office (GSO).
New-generation Free Trade Agreements (FTAs) are expected to help Vietnam become more competitive if the country reduces trading costs and improves its business environment, experts said at a conference in Ho Chi Minh City.
Vietnamese startups needs more support institutions and policies to reach their goals, said President of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc on December 2.
VOV.VN - Vietnam’s southern localities sought greater investment from Japan at the Mekong-Japan Business Forum 2019 in Can Tho city on November 30.
Government officials and businesses of Vietnam and Russia attended a high-level dialogue forum held in Hanoi on October 29 by the Vietnam Chamber of Commerce and Industry (VCCI) and the office of the Russian Presidential Commissioner for Entrepreneurs’ Rights.
The 10th Asian Business Summit (ABS) in Hanoi on October 17 adopted a joint statement on a super connected Asia for sustainable development, showing the Asian business community’s commitment to the goal of inclusive, sustainable and prosperous development.
VOV.VN - Deputy Prime Minister Vu Duc Dam affirmed the Vietnamese Government’s readiness to open its door to foreign businesses in his address at the Vietnam Business Summit 2019 held in Hanoi on October 16.
Labor force quality is still a main obstacle for Vietnam to overcome.
Vietnamese entrepreneurs have played an important role in the country's socio-economic development and the process of global integration, according to President of Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc.
The best companies in the US, Europe and Japan are not picking Vietnam but instead have moved to other regional countries like Malaysia, Indonesia and Thailand, where developed supporting industries and highly-qualified human resources are already in place.
The EU-Vietnam Free Trade Agreement (EVFTA) offers many opportunities to Vietnamese workers and just as many challenges.
Vietnam has delivered a strong performance on the human capital index but is facing challenges in ensuring high-quality human resources, said a World Bank official at the National Conference on Sustainable Development 2019.
Vietnam has considered adding regulations of household business to the revised Law on Enterprises that is set to be submitted to the National Assembly for approval in October.
The Prime Minister's working group said on August 22 that ministries had drastically cut business conditions and administrative procedures in order to facilitate businesses’ activities, but more still needs to be done.
VOV.VN - In the current state of globalization, intellectual property has become an increasingly important asset for businesses because it creates added value and increases businesses’ profitability and prestige.
Prime Minister Nguyen Xuan Phuc admitted although Vietnam has gained initial success in global supply chains, Vietnamese businesses have mainly joined these chains in fields such as assembling or product packaging, which are lower in value and lack sustainability in supply chains.