Hanoi (VNA) – The entrepreneurialspirit of businesses is a stimulus for the Government to act more drasticallyand innovatively, said Prime Minister Nguyen Xuan Phuc at the annual VietnamBusiness Forum (VBF) 2018 in Hanoi on December 4.

The PM highlighted the forum as an importantdialogue channel between the Government and the business community.

He noted all constructive opinions ofenterprises and appreciated their enthusiasm and aspirations to make morecontributions to the country’s development.

The Government leader believed that businessescan find a lot of cooperation opportunities despite strong impacts from theglobal trade issues.

He underlined Vietnam’s significant economicaccomplishments over the past time, noting that the national economic growth isprojected at 7 percent in 2018, the highest level over the past decade and muchhigher than that of other countries in the region.

Along with the achievements, Vietnam has becomea “big workshop” of the world and a “fulcrum” for many transnationalcorporations providing competitive products and services in the region and theglobe, he said.

The presence of leading groups in Vietnam suchas Samsung, Intel, Canon, Fujitsu, Toyota, Honda, Nike, and Vinacapital as wellas thousands of foreign direct investment (FDI) enterprises is a guarantee ofthe quality of the investment environment and growth prospects of Vietnam, hesaid.

The strong growth of private economic groupsindicates that the business climate in Vietnam could give birth to largeinternationally competitive enterprises, the PM added.

Vietnam now has more than 20 export items worthover one billion USD, he said, adding that agricultural products such as rice,pepper, coffee, and basa fish are leading the global market. Fruits like dragonfruit, mango, longan, lychee, rambutan, and grapefruit are exported to suchchoosy markets as the US, Europe, Japan, the Republic of Korea, and Australia.

The PM emphasised on the country’s consistencyin the trade liberalisation and economic integration with the signing of andnegotiations on 16 free trade agreements (FTA) which enable Vietnam’s access tomore than 60 economies including 15 countries in G20 and offer opportunities toengage more deeply in the global value chains and production networks.

He suggested businesses promote their strengthsto increase competitiveness instead of depending on the Government’s support.

He called on international groups and foreignfirms to adopt more open supply policies as well as create more opportunitiesfor Vietnamese businesses to join deeply in the global value chains. 

The Government is determined to maintainsocio-political stability and macro-economic foundation, he said.

“The Government is committed to stepping up structural reform and improving institutionalquality and State governance at both central and local levels in addition toreforming State businesses and the financial system, handling bad debts, and betteringpublic debt management...It will work harder to unlock bottlenecks for fasterand more sustainable growth,” he said.

He added that the Government will speed upefforts to improve the business environment and increase nationalcompetitiveness. 

VBF serves as a dialogue mechanism between theGovernment of Vietnam and the national and international business communitiesto improve business conditions necessary to foster the development of privateenterprises, facilitate the investment environment, and contribute to Vietnam’ssustainable economic growth.-VNA