Vietnam Business Forum 2014 opened

On December 2nd morning, Vietnam Business Forum 2014 was officially launched. The forum gave many concerning issues in current situation of Vietnam economy and the world’s one. Vietnam businesses are facing difficulties and advantages.

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On December 2nd morning, Vietnam Business Forum 2014 - VBF 2014 was officially launched. At the beginning of the opening ceremony, Minister of Planning and Investment, Bui Quang Vinh said that the efforts of Vietnam government as well as the business community (including State-owned businesses, FDI businesses, and private businesses) make Vietnam business environment significantly improved. "The growth target of 5.8% this year will probably exceed, the level of difficulty of Vietnam business is being restored slowly, especially in manufacturing industry which has been in good progress with low inflation. 2014 will be a nice ending year of Vietnam economy. This will be a goof condition for Vietnam to develop more in 2015, according to the Vietnamese Minister.

Vietnam Business Forum 2014 takes place annually in the context of the economy has many positive signs. Especially, after a series of moves by the Government in improving the business and investment environment in Vietnam, Resolution No. 19 of Vietnam government on missions and key solutions to improve the business environment, enhancing national competitiveness; Resolution No.15 of the government on reforms of state enterprises; Circular No.119 on reforming, simplifying the tax procedures take into effect. Especially, the Congress has recently passed a new law, including Enterprise Law and Investment Law which were amended. This creates transparency, convenience and confidence in the business environment for domestic and foreign companies. Vietnam Business Forum 2014 is expected to raise the process of handling concerning problems, and proposing solutions and strategies in the new situation as the issues of Vietnam - EU Free Trade Agreement, Trans-Pacific Partnership Agreement, Regional Comprehensive Economic Cooperation Agreement, ASEAN Economic Community, tax incentives and policies on supporting auxiliary industries in Vietnam...

Representative of the World Bank - Mrs. Victoria Kwa Kwa appreciated the Vietnam government's efforts in improving the business environment in recent years. This was proved by credit ratings of Vietnam increased in the international arena. "The theme of this year's forum is Vietnam enterprises orienting towards free trade agreements. That how Vietnam will gain the opportunity of this integration to make the pedal to the development in the coming time is a current question. Co-Chairman of the Vietnam Business Forum 2014, Mrs. Annual Virginia Foote said, "Through this VBF 2014, we especially hope to cooperate with the Vietnam government in concerning issues of the government and local and international business community". Six main contents will be discussed at the Vietnam Business Forum including: issues of public debt, bad debt in the financial sector; measures to promote the development of private sector (small and medium enterprises, domestic enterprises); labor issues; accelerating the equitization of state-owned enterprises; reform of administrative procedures; problems in participating in trade agreements.

According to Mrs. Virginia Foote, Vietnam is a relatively small economy compared to other countries participating in trade agreements. These agreements will bring many great opportunities, along with many challenges if Vietnam does not have good preparation process.