Annual Viet Nam Business Forum opens in Ha Noi

This year's forum is jointly held by the Ministry of Planning and Investment, World Bank, International Finance Corporation, and Viet Nam Business Forum Alliance under the theme "Restoring the economy and developing supply chain in the new normal".

Participants to the event include Minister of Planning and Investment Nguyen Chi Dung, Minister-Chairman of the Government Office Tran Van Son, World Bank Country Director Carolyn Turk, Acting IFC Country Manager for Laos, Cambodia, and Viet Nam Amy Luinstra, and representatives of several ministries and agencies.

Addressing the event, Prime Minister Pham Minh Chinh said that after 35 years of implementing its "Doi moi" (renewal) process, Viet Nam has obtained historical achievements.

He highlighted that in 2021, despite unprecedented challenges and difficulties, Viet Nam gained encouraging achievements with the solidarity and unanimity of the people and business community as well as support from international friends and partners.

Last year, the country's import-export revenue surged 22.6 percent year on year to a record of nearly 670 billion USD, bringing Viet Nam to the top 20 countries with largest trade scale in the world, he noted, adding that the country enjoyed a 9.2-percent rise in foreign direct investment attraction.

Viet Nam has become one of the six countries in the world with highest COVID-19 vaccination coverage, he said, adding the country has switched to safe, flexible adaptation to and effective control of the pandemic since October 2021.

The Party, State and Government of Viet Nam highly values the contributions of the business community and share the difficulties that they are facing, especially amid COVID-19, he stressed.

He underlined that with the motto of placing businesses in the center, the Vietnamese Government will continue to implement three strategic breakthroughs – completing institution, developing human resources, and building synchronized and modern infrastructure system.

Viet Nam is seeing an opportunity to rise strongly on the foundation of the national synergy, position and prestige after 35 years of Doi moi, he said, stressing that it is the time for the country to challenge the mettle, creativity and adaptation capacity of both the Government and business community in the spirit of mutual support, harmonious benefit and shared risk.

Along with effectively implementing the socio-economic recovery and development program in parallel with COVID-19 prevention and control, Viet Nam will continue to work to keep macro-economy stable, improving the business and investment environment, speeding up digital transformation, boosting the growth of digital economy, digital society, green economy and circular economy, and mitigating climate changes, he said.

The PM stated that Viet Nam will roll out measures to recover the supply chains as well as business and production activities, while speeding up administrative reform, and developing different factors serving production such as capital, land, resources and science-technology markets.

The Vietnamese Government will also work to create an equal environment for all economic sectors, he underscored, saying that the country encourages private and foreign investments in the fields of high technology, support industries, smart agriculture, environmental protection, renewable energy, infrastructure building and social welfare.

Viet Nam will make full use of advantages from free trade agreements, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), EU-Viet Nam Free Trade Agreement (EVFTA), and Regional Comprehensive Economic Partnership (RCEP) to expand markets and diversify business partnership, while strictly handling smuggling and trade fraud, he said.

At the event, PM Pham asked ministries, sectors and relevant agencies to collect ideas from the business community and respond to their feedback.

He expressed his hope that the business community will continue to join hands with the Vietnamese Government and people to effectively implement socio-economic targets for 2022.

VBF is an on-going policy dialogue channel between the Government of Viet Nam and business community towards a favorable business environment since 1997.