The cabinet leader made the statement during a PM’s dialogue with businesses held in Hanoi on December 23, gathering about 3,000 representatives from the Vietnamese business community and relevant authorities.
At the conference, PM Phuc and his cabinet members spent nearly five hours listening to and exchanging with businesses, experts and representatives from business associations and international organisations on obstacles they are facing, while proposing solutions to remove such obstacles to further improve the business environment in Vietnam.
Speaking at the event, the PM provided some highlights on the national socio-economic situation in 2019. Despite the global and regional economic recession, Vietnam's economic growth is still maintained at over 7%, one of the highest growth countries in Asia and the world, accompanied with firm a business environment with low inflation. The trade surplus has reached a record high of over US$9 billion. For the first time ever, import-export turnover has reached US$500 billion. FDI attraction continues to rise, at over US$32 billion, with disbursement reaching over US$17.7 billion, the highest figure in recent years.
Contributing to the national socio-economic achievements in 2019 as well as throughout more than three decades of Vietnam's Doi Moi (renovation), there is an important role of the Vietnamese business community and entrepreneurs, PM Phuc affirmed, while expressing his sincere thanks to their multifaceted contribution to the country’s development.
According to him, the growth of enterprises cannot be without the role of the State. In the spirit of accompanying businesses, PM Phuc reiterated the message that solving enterprises’ difficulties must be on the front page of the leaders' action manuals.
Each ministry and sector should urgently develop an action plan to fulfil the commitments to support the business community in 2020 with a vision to 2025, PM Phuc urged, adding that the concerned authorities need to have more open policies to support businesses in making substantial business breakthroughs.
He asked the government and localities to thoroughly improve the business investment environment, establish better financial incentive mechanisms for businesses and boost administrative reform.
For the business community, the PM called on Vietnamese businesses to improve their solidarity, actively cooperate and mutually assist each other to reach out to the world market.
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Prime Minister Nguyen Xuan Phuc visits some display booths by Vietnamese businesses on the side-line of the dialogue. (Photo: NDO/Tran Hai)
The business community needs to proactively innovate, restructure and improve continuously, with a focus on improving competitiveness, brand reputation and technology application, while taking advantage of worthwhile opportunities from the fourth Industrial Revolution and FTAs.
PM Phuc also asked enterprises to comply with the law and apply progressive business standards, while paying attention to fully implementing mandatory financial obligations and ensuring the rights for employees, as well as protecting the environment and preserving the national brand and reputation.
On the side of the government, the PM affirmed that the government is committed to continuously promoting reforms and actively reviewing legal barriers, policies and regulations to create more favourable conditions for businesses to operate, in addition to completely protecting the legitimate property rights of people and businesses.
After the dialogue, PM Phuc asked the Ministry of Planning and Investment to coordinate with the Government Office and other related agencies to develop a Government resolution on business development orientation in the near future to handle existing inadequacies and propose solutions to boost enterprises’ development.
With strong determination to bring Vietnam's business environment and competitiveness into the top group of the ASEAN, the government reiterated its commitment to continue accompanying businesses – the pioneering force in the economic front – to grow stronger, with over 126,000 newly-established firms each year.
The figure for newly-established enterprise in 2019 is expected to reach 136,000 with total registered capital of about VND1.7 quadrillion (US$73.3 billion), raising the total number of active businesses to 760,000. The country aims to have one million businesses in 2020.
In 2016, the Prime Minister held the first dialogue with businesses right after taking office. Afterwards, the Government for the first time issued Resolution 35 to support and develop businesses.
