12/12/2017 11:13 GMT+7 Email Print Like 0

Vietnam Business Forum looks to boost private sector growth

The year-end session of the Vietnam Business Forum (VBF) in 2017 is set to focus on measures to improve productivity and boost the development of the private sector.

At a recent press conference in Hanoi before the annual event, Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc said the VBF, which is held twice a year, is a dialogue mechanism between the Vietnamese Government and enterprises from both domestic and foreign-invested sectors.

In a report submitted to the Government, the VCCI acknowledged significant improvement made to the local business climate, particularly after the National Assembly passed the Law on Support for Small- and Medium-sized Enterprises (SMEs). The implementation of Resolution 19-2017/NQ-CP on enhancing business environment and national competitiveness, and of Resolution 35/NQ-CP on supporting growth of enterprises toward 2020 was also said to contribute to the outcome.

Hirohide Sagara, Co-Chairman of VBF Consortium's Management Board, said that along equitisation to promote private sector, other potential measures include maintaining a stable business climate, cutting cost, and investing in infrastructure.