Vietnam Business Forum: Businesses offer recommendations on reviving economy post-pandemic
Various recommendations have been put forward at the Vietnam Business Forum (VBF) 2022 to revive and sustainably develop the economy in the face of adverse impacts from the COVID-19.
A view of the high-level session of the Vietnam Business Forum (VBF) 2022 in Hanoi on February 21. (Photo: VNA)
Hanoi (VNA) – Various recommendations have been put forward at the Vietnam Business Forum (VBF) 2022 to revive and sustainably develop the economy in the face of adverse impacts from the COVID-19.
Themed “Restoring the economy and developing supply chain in the new normal,” the VBF was co-hosted by the Vietnam Chamber of Commerce and Industry (VCCI), Ministry of Planning and Investment, World Bank (WB), and International Finance Corporation (IFC) in Hanoi on February 21.
In his remarks at the event, VCCI Chairman Pham Tan Cong cited results of a survey that showed the COVID-19 pandemic had taken a toll on up to 93.9 percent of enterprises in Vietnam last year. Firms in all sectors have experienced difficulties caused by COVID-19, most notably challenges in accessing customers, cash flow imbalance, labour shortage, and supply chain disruption, according to the VCCI survey.
The number of newly-established enterprises and those re-entering the market was down 10.7 percent compared to the previous year to nearly 160,000 in 2021, data from the General Statistics Office shows. Meanwhile, up to 119,800 firms were dissolved, up 17.8 percent year-on-year.
Prime Minister Pham Minh Chinh (centre) attends the high-level session of the Vietnam Businees Forum 2022. (Photo: VNA)
2022 is likely to be another challenging year for the economy. To fulfil this year’s goals and successfully implement the Government’s tasks and solutions, the business communities came up with ten recommendations. They suggest the Government, ministries and local administrations to continue facilitating access to information relating to supporting policies and regulations for enterprises and providing them with help to gain easier access to funding to recover production.
They also urge for simplified exit and entry rules to facilitate travel of workers and experts and effective implementation of supporting programmes offering training for people left jobless by COVID-19.
They want to receive support to accelerate application of information technology in accessing public administrative services and make full use of preferential tariffs from free trade agreements.
The business community show interest in developing digital economy, deemed as the growth engine of the economy; and call on ministries and local administrations to boost the development of the domestic market, strengthen the linkages between business and industry associations to reduce the independence on imported products, and accelerate public administration reforms./.
The National Assembly (NA) Standing Committee on December 30, 2021 issued a resolution allowing the implementation of a number of mechanisms and policies in the healthcare sector serving COVID-19 prevention and control activities, including the management of drug and drug ingredients.
Minister of Labour, Invalids and Social Affairs Dao Ngoc Dung has said that the socio-economic recovery programme set out by the Party and State is reachable if social welfare and safety of people are ensured.
The Government has issued a resolution on socio-economic recovery and development programme, and the implementation of the National Assembly’s resolution on fiscal and financial policies in support of the programme.
Prime Minister Pham Minh Chinh on February 12 signed a dispatch urging the drastic and effective implementation of the socio-economic recovery and development programme as well as the acceleration of the disbursement of public investment.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
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.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
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.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
A view of the high-level session of the Vietnam Business Forum (VBF) 2022 in Hanoi on February 21. (Photo: VNA) 
Prime Minister Pham Minh Chinh (centre) attends the high-level session of the Vietnam Businees Forum 2022. (Photo: VNA)
