The 2014 Midterm Vietnam Business Forum (VBF) took place when the political and economic situation of Vietnam had major changes – the Government and local authorities are striving to deal with issues related to China’s illegal placement of its Haiyang Shiyou 981 oil rig on the continental shelf and in the exclusive economic zone of Vietnam.
According to experts, Vietnam is facing growing reform pressures to cope with emerging challenges. However, this is a great opportunity for Vietnam’s Government to gain confidence from investors since it has effectively responded to unforeseen events.
The rapid and decisive response of the Government and local authorities to worker riots in some localities in mid-May has built up a confidence and consensus of the business community with the Government.
Timely support measures have helped damaged businesses to quickly resume stable operations. Up to 98-99 percent of affected businesses have returned to normal operations – the affirmation of the Government’s effective measures. Even, the worst-damaged companies are also rebuilding their factories to continue their operations in Vietnam.
Although China is one of the most important partners of Vietnamese economy, recent events have required Vietnam to have plans to cope with new problems and maintain stable economic and commercial relations with the neighbouring nation. It also needs to reduce dependence on this market by diversifying markets and enhancing national competitiveness. Positively speaking, this is also an opportunity for Vietnamese businesses and economy to reposition themselves.
VBF Co-chair Virginia Foote said all the events have both positive and negative sides. But looking at practical actions that the Government of Vietnam has taken in the past time, the Vietnamese economy in general and the business community in particular are seeing more opportunities being opened up.
Dr Vu Tien Loc said Vietnam entered the year 2014 with restored macroeconomic stability and gradual economy recovery. Vietnam is in a place that gathers sufficient conditions to create development breakthroughs. The New Year Message delivered by the Prime Minister stated groundbreaking requirements for institutional reform to create momentums for the new stage of development. Resolution 15/NQ-CP of the Government demanded a two-year programme to equitise 432 State-owned enterprises (SOEs). This is the biggest-ever equitisation programme.
Then, the Government’s Resolution 19/NQ-CP on major tasks and solutions to business environment improvement and national competitive capacity building and the Prime Minister’s Directive 11/CT-TTg on solutions to difficulties facing businesses and measures to business development of enterprises at the back of the Prime Minister’s meeting with the business community in late April required a quicker public administration reform and enhanced capacity building of governmental organs. The Government and the Prime Minister also placed reform pressures on its organs and local governments to in order to gain the trust of the people and businesses through confidence votes and independent sociological surveys.
In addition, Vietnam is likely to conclude many important free trade agreements (FTAs). Notably, Trans-Pacific Partnership Agreement (TPP) is going to the last grounds and the EU – Vietnam Free Trade Agreement (EVFTA) is expected to be concluded in October 2014. The enforcement of these agreements will open up market opportunities for the economy on the one hand but posse pressures to institutional reforms towards economic equality and transparency as required by global economic rules on the other hand.
Mr Marc Townsend, Chairman of AmCham, expressed, AmCham upholds its commitments to government counterparts to prepare for Vietnam to become a member of new trade agreements and create a stable, transparent and attractive business environment. AmCham supports Resolution 19′s guidelines and the New Year Message delivered by the Prime Minister and appreciates the interaction between State agencies with enterprises and the people.
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Đăng ký: VietNam News