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Business leaders discuss investment environment

Business leaders discuss investment environment

Tuesday, December 04, 2012, 17:00 GMT+7

The Government re-affirmed its commitment to stand side by side the business community at the Vietnam Business Forum 2012 (VBF) in Hanoi on December 3.

The conference entitled “Restoring Economic Dynamism” is an annual venue for business leaders to meet to discuss the challenges and opportunities for investment in the country.

Deputy Prime Minister Vu Van Ninh said the Government is always ready to listen to the business community’s recommendations in order to build policies meeting their needs, creating favourable conditions for the development of enterprises.

World Bank Vietnam Portfolio and Operations Manager Keiko Sato noted the changes in macro-economy with such outcomes as more stability in the economy, slowdown in inflation, a more stable Vietnamese dong, increasing foreign reserve and strong reduction in budget deficit. However, she pointed out that management mechanisms are lagging behind changes and called on Vietnam to reform public management and investment with a view to reducing costs and restoring the economy’s dynamism.

Chairman of the European Chamber of Commerce in Vietnam, Preben Hjortlund, said the Government should work hard to address issues relating to prices, the role of State-owned enterprises and copyrights, in order to attract investors.

President of the Vietnam Chamber of Commerce and Industry Vu Tien Loc called on the Government to deliver a clear message affirming its consistent goals of stabilising the macro economy and reforming institutions, to allow businesses to define their long-term investment direction.

He also stressed the need to reduce the burden of tax and fee in the current severe economic conditions as a way to assist the business community.

The Hanoi Young Business Association also proposed that the laws and regulations system should be more consistent in order to better encourage investment and create favourable conditions for doing business.

Tax issues were also discussed at the forum, with Vu Thu Huong from the Investment and Trade Working Group proposing that the Government have a more uniform tax system.

The VBF was held ahead of the Consultative Group for Vietnam’s annual meeting, which will take place on December 10 with the overarching theme of “Laying the Foundation for Sustainable Growth”.



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