Vietnam Remains Committed to Business Community


04 de diciembre de 2018, 17:35Hanoi, Dec 4 (Prensa Latina) Prime Minister Nguyen Xuan Phuc on Tuesday praised the Vietnamese business community”s contributions to the country”s present and future and said that its spirit leads the government to act more decisively and innovatively.

speaking at the annual Vietnam Business Forum (FNV), Xuan Phuc stressed the growth and strength of private companies in Vietnam this year, and assured that they can flourish despite the turbulent international trade scenario.

After listing the country’s successes so far in 2018 (Vietnam is expected to close the year with an economic growth close to 7 percent), he called on the companies to increase their competitiveness and become progressively less dependent on the government, which will be responsible for maintaining socio-political stability and the macroeconomic foundation.

He assured, however, that the executive will intensify efforts to improve the business system and environment.

The government is committed to deepening structural reform and improving institutional quality and state governance at the central and local levels, as well as reforming state-owned enterprises and the financial system, managing bad debts and improving public debt management, as well as to unblock bottlenecks for faster and more sustainable growth, he noted

Xuan Phuc asserted that Vietnam has become a ‘great workshop’ and a ‘point of support’ for many transnationals to offer competitive products and services in the region and the world.

He commented that the country’s consistency in trade liberalization and economic integration, including the signing or negotiation of 16 free trade agreements, allows it to access more than 60 economies, including 15 from the G-20, and to participate in global value chains and global production networks.

Vietnam holds the FNV every year to strengthen dialogue between the government and the domestic and foreign business community, create more conducive conditions for business among them, encourage investment with local and foreign capital and, in general, to contribute to the country’s economic growth.

This year, until late November, more than 121,600 new private companies had been created in Vietnam, a process the Government also encourages in the qualitative order as it is part of the Doi Moi or economic reform process.

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