The Hanoitimes – Investors attending the 2014 Vietnam Business Forum (VBF) asked the host country to continuously speed up institutional and administrative procedure reforms.
They also suggested Vietnam improve the investment environment and human resources training so as to fully support the national economy when joining new free trade agreements.
According to Director of the Vietnam Chamber for Commerce and Industry (VCCI) Vu Tien Loc, poor access to the government’s plans and local administrations’ regulations failed businesses’ efforts to be fully prepared for changes stemming from the legal system.
He stressed the urgent need to drastically push for stronger administrative and institutional reforms, especially the administrative apparatus, which was echoed by an American Chamber of Commerce (AmCham) representative at the event.
At the forum, which took place in Hanoi on December 2, participants seek ways to encourage the development of private enterprises.
A report by the VBF Investment and Trade Working Group revealed the private sector still meets with difficulties accessing capital sources, land and energy as well as dealing with weak administrative system, workforce, and support industry.
Meanwhile, taxation, customs, transportation, land management and trade agencies are yet to play their roles as providers of support for the sector, the report found.
According to Head of the VBF Investment and Trade Working Group Fred Burke, to make the private sector the backbone of the business activity in Vietnam requires the creation of a fair playing ground for all players.
The VCCI leader, meanwhile, pointed out that in the coming time, businesses’ growth will be determined by capacity and governance skills rather than their investments.
By Bach Nhat
Đăng ký: VietNam News