05/03/2016 11:01 GMT+7 Email Print Like 0

President listens to concern over business competition

HCM City, March 4 (VNA) – Nearly 50 National Assembly deputies representing business associations and corporations raised their concern over business obstacles during a meeting with President Truong Tan Sang in Ho Chi Minh City on March 4.

A majority of deputies were worried about the competition between domestic firms and foreign rivals, saying that numerous home-grown enterprises are at a disadvantage due to insufficient capital, low productivity and lack of State incentives.

Chairman of the Ho Chi Minh City Business Association Huynh Van Minh expressed his concern over cumbersome administrative procedures that impede business operations.

A representative from Hung Vuong fisheries company said members of the Vietnam Association of Seafood Exporters and Processors are facing high lending rates, making it hard for them to compete with regional rivals.

In the combat against counterfeits, business representatives said local authorities are yet to be strict enough to properly deal with the problem. A number of businesses have taken recourse to police but the results remain below expectations.

Participants suggested that the State should take measures to increase the number of enterprises, thereby generating jobs for local workers, partly by building more business management schools.

The State leader urged businesses to be well-prepared amid current widespread economic integration.

As economic drivers of the country, Hanoi and Ho Chi Minh City must clear any arising business hindrances, he stated.

Earlier the same day, the President met constituents from Ho Chi Minh City’s district 4 and clarified their questions on security and public order, sustainable poverty reduction, climate change mitigation, island sovereignty and the crackdown on food hygiene violations.
VNA/VNP