Meeting reviews government’s resolution on business development
Deputy Prime Minister Vuong Dinh Hue has suggested making an assessment of both quantity and quality of enterprises after one year of implementing the government’s resolution on business development.
Deputy Prime Minister Vuong Dinh Hue speaks at the meeting (Photo: VNA)
Hanoi (VNA) – Deputy Prime Minister Vuong Dinh Hue has suggested making anassessment of both quantity and quality of enterprises after one year ofimplementing the government’s resolution on business development.
Addressing ameeting in Hanoi on February 9 to review the government’s ResolutionNo.35/NQ-CP, the Deputy PM said besides looking into the number of businesses,it is essential to review their operational efficiency.
It is alsoimportant to point out current difficulties and challenges that businesspeople arefacing and promptly tackle them in 2017, he added.
The DeputyPM requested creating the optimal conditions for entrepreneurs to do businessand make an assessment of capital; goods-services; real estate;science-technology, and the labour market.
He askedlocalities to conduct dialogues with the business community to address theirpetitions and prepare for the upcoming meeting between the Prime Minister andbusinesses.
The Ministryof Finances was urged to inspect the operational efficiency of businesses aswell as the outcomes in trade facilitation; implementation of the NationalSingle Window system; simplification of administrative procedures relating toproduction; and development of the stock market and banking activities.
The DeputyPM entrusted the Ministry of Agriculture and Rural Development to seek bettermeasures to lure investment in the field, while the Ministry of Science andTechnology is responsible for building a start-up ecosystem and pave the wayfor the development of the sci-tech market.
According tothe Ministry of Planning and Investment, all 63 cities and provinces across thecountry signed the commitments to creating favourable business environment forbusinesses.
Positiveoutcomes were recorded in major cities of Ho Chi Minh City,Hanoi, and DaNang.
In 2016, arecord high of over 110,100 businesses registered to establish with a totalinvestment of more than 891 trillion VND, a year-on-year surge of 49 percent.Also in this year, 26,600 businesses resumed operation, up about 43.1 percent.
The firstmonth of 2017 saw nearly 9,000 newly-established firms with a total registeredcapital of 90.3 trillion VND, a respective increase of 8.1 percent in number of52.3 percent in capital.-VNA
Vietnam is paying special attention to business development, with the government promoting start-up movements so that nationwide businesses will double to a million within the next five years.
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Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
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The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Deputy Prime Minister Vuong Dinh Hue speaks at the meeting (Photo: VNA)
