Opening Vietnam Business Forum 2015 Annual
With the theme Enhancing the competitiveness of enterprises to international integration, Vietnam Business Forum Annual (VBF) 2015 was officially opened on the morning of 1/12 in Hanoi.

According to Bui Quang Vinh, Minister of Planning and Investment, Vietnam this is phase is essentially institutional reforms to enhance competitiveness of the economy. But there are still many challenges are posed with Vietnam.

That is the productivity and quality of economic growth, administrative reform, anti-corruption, as well as preparing to enter more deeply into the background box world economy is still insufficient. The business environment improved but many institutional but sewn enforcement is still weak.

"Vietnam is perfecting the market economy and have much work to do. While the economy is still limited, is facing many challenges, especially in terms of economic integration in the world. In the context Vietnam joined the ASEAN economic Community (AEC), signed and negotiated several free trade agreements is to improve the competitiveness of enterprises, improving the system of law is urgently needed " - Minister Vinh said.

Ms. Virginia B.Foote, Co-Chairman, Vietnam Business Forum, the Forum said since mid 6/2015 held on January, there has been significant progress on issues important to the DN in Vietnam - especially the results of the negotiations of the strategic Partnership Agreement trans-Pacific (TPP) on May 10/2015.

"We expect the negotiations of the Free Trade Agreement between Vietnam - EU will achieve the results this week in Brussels. We are also very pleased with the commitments in Resolution No. 19 in 2015, and also witnessed a lot of important legislation was enacted and took effect this year "- said Ms. Virginia B.Foote.

However, to create a favorable business environment and equality for enterprises, Ms. Virginia B.Foote that should follow the precautionary approach to minimize corruption and administrative burden by reducing the amount of cash, paperwork and payment transactions directly between businesses and between businesses and government.

According to Mrs Virginia B.Foote, Vietnam has traveled around 70-80% of the way towards global accounting standards and the final 20% will be the key to success for companies operating in Vietnam . Therefore, co-chairman expressed VBF Forum welcomed the important first step that the Government has made to bring the accounting system of Vietnam closer to international standards.

However, the problem should be more concerned with improving the hardware infrastructure, energy production, power development plan VII, the coal industry, the industry ... well she Virginia B.Foote shown.

According to Mr. Vu Tien Loc, this is the first period after the last VBF end TPP negotiations, institutional reforms are generally good, but not yet meet the requirements of businesses. Accordingly, the most worrying bottlenecks according to Mr. Loc is the development of Vietnam's economy is undergoing far-reaching integration but the private sector is "lonely"

Thus, in 2016 will execute orientation as new trade agreements, VCCI will be combined with each sector to exchange and alliances formed enterprises, promoting the domestic private enterprises to participate the whole chain bridge. Policy support industries instead of individual businesses.

(Source: VBF)

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