Minister of Planning and Investment Bui Quang Vinh, Ms. Victoria Kwakwa - World Bank’s Country Director for Vietnam and Mr. Simon Andrews – International Finance Corporation Regional Manager co-chaired the Forum. Attending the Forum, there were representatives of Ministries, branches, diplomatic agencies, international organizations, donors, domestic and foreign enterprises and press, media agencies. Besides, the Forum this year had the attendance of Myanmar Government’s delegation who wants to study and acquire experience in organizing dialogue.

Minister of Planning and Investment Bui Quang Vinh was speaking at the opening Forum. Photo: Duc Trung (MPI Portal)

Speaking at the Forum opening, Minister Bui Quang Vinh affirmed that VBF has been developing strongly, becoming regular and continuous policy dialogue channel of the Government and domestic and foreign business community, contributing to active improvement of business and investment environment in Vietnam. This Forum took place in the context of illegal installation of a Chinese oil rig in Vietnam’s exclusive economic zone and continental shelf, affecting the investment environment in Vietnam. Shortly after that, Vietnam Government steered drastically ministries, branches and localities to give the specific measures to regain confidence of the business community such as tax exemptions, simplifying customs procedures, supporting the businesses damaged by some extremists. Vietnam appreciated many foreign investors still accompanying and doing business in Vietnam, especially Taiwan investors.

Proposing recommendations to support the enterprises, Ms. Virginia Foote, Co-Chairwoman of VBF Consortium said that, in the coming time, Vietnam Government should focus on three solutions: First, solution for the Free Trade Agreements (FTA) under negotiation, particularly TPP and EVFTA to bring the most benefit to Vietnam’s enterprises and economy; second, accelerating implementation of the solutions and resolving, supporting  the damaged enterprises in some localities, affirming the confidence of foreign investors in Vietnamese investment environment; third, strong deployment of the main tasks and solutions to improve business environment, increasing capacity of national competitiveness, confirming the stability and attractiveness of Vietnam in the eyes of domestic and foreign investors.

The whole scene of Forum. Photo: Duc Trung (MPI Portal)

Mr. Marc Townsend, Chairman of American Chamber of Commerce in Vietnam (AmCham) said that in 2013, trade between Vietnam and the US increased about 20%, reached US$ 29.7 billion. Bilateral trade in the first 3 months of 2014 rose 14%. If this trend continues being maintained and TPP is signed, bilateral trade of goods could reach US$ 60.2 billion in 2020, and achieve US$ 70 billion in 2030. AmCham believed that TPP would bring a good development orientation for Vietnam economy, help Vietnam’s GDP in 2025 heighten 28.4% as compared to the level of GDP without support from TPP, and Vietnam’s export would be up 35.7%. TPP and other FTAs will bring new opportunities supporting Socio – economic Development Strategy of Vietnam towards industrialization, modernization and globalization. These FTAs could support the process of removing trade barriers in the fields of market access and government procurement. Simultaneously, this process also helps develop new standards in more strict regulation system, such as rights of labors, environmental protection and intellectual property rights.

Mr. Tomaso Andreatta, Vice Chairman of EuroCham said that Vietnam has been being in the process of FTAs negotiation with significant potential of promoting economy. FTA between European Union (EU) and Vietnam has got favorable progress. After signing the FTA between EU and Vietnam, Vietnam’s GDP could be estimated up 15%, real salary of high-skilled labor could rise 12%, real salary of unskilled labor could increase about 13% and export value could raise by nearly 35%. Therefore, it is necessary to remove the protectionist policies quickly in order that Vietnamese enterprises could be adapted to international standards on qualify, prices, brand, etc.

PM Nguyen Tan Dung was speaking at the Forum. Photo: Duc Trung (MPI Portal)

Acknowledging the comments of business associations, Prime Minister Nguyen Tan Dung said that Vietnam’s socio – economic situation in 2013 and the first months of 2014 continues having positive changes in right direction. Macroeconomy is more stable and steady; inflation is curbed; export in 3 years (2011-2013) increased over 20% in average; exchange rate is stable, foreign currency reserves of Vietnam have been raised, ensuring more than 12 weeks of import since 2013; overall balance of payment is in large surplus; interest rates fell sharply following the signal of inflation curbing, in accordance with market economy; NPLs of banking system is step by step controlled and settled. In addition to economic development, social advancement and justice continue being improved. Especially, in difficult conditions of the economy, Vietnam completed many Millennium Development Goals of United Nations (UN) before deadline. This was recorded and appreciated by UN and international community. Vietnamese political and social stability is being continued and ensured steadily on the basis of agreement of people with development policies of the State.

Sharing about happened regrettable things to some foreign enterprises, PM Nguyen Tan Dung affirmed that Vietnam had prevented timely, does not allow recurrence of this, and shared, cooperated, supported the damaged enterprises, most of them had resumed normal production and business.

PM confirmed that Vietnam is trustful friend and partner of the nations and international community. Simultaneously, Vietnam will continue developing the economy fast and sustainable; economic development is in parallel with social advancement and justice. In order to reach the above goals in the coming time, Vietnam will perform synchronically several solutions, policies, focusing on 5 main policies, solutions: First, Vietnam continues completing institutions of market economy more fully and effectively; initiatively accelerating the efficiency of deep integration process with the international community and world economy, such as implementing fully the rules of market economy and the solutions of economic regulation and orientation, improving investment and business environment to become more open and transparent, consistent with the international commitments.

Second, strengthening economic restructure to be more competitive and effective, Vietnam will create the most favorable condition to develop private enterprises, considered as an important force in socio – economic development. Simultaneously, Vietnam Government will create all condition to attract foreign investors to investment, production and business in Vietnam.

Third, Vietnam will implement mechanisms to encourage strongly both domestic and foreign economic components to invest in infrastructure development, including socio - economic infrastructure, particularly encourage the form of private – public partnership (PPP). Vietnam Government also devotes adequate resources to accelerate training human resources, especially high-quality human resources to meet the requirements of labor market and demand of the enterprises.

Forth, in the construction of a socialist law-governed state, Vietnam will ensure and promote direct democratic rights of people, as well as democratic rights of people through their voluntary and legal organizations and in improving the effectiveness and efficiency of law-governed state; simultaneously, attach special importance to completion of institutions, policies and administrative reforms, etc.

PM Nguyen Tan Dung affirmed that Vietnam continues ensuring and enhancing increasingly stable political security, social order and safety, protecting peaceful living environment of people; ensuring security and safety absolutely for the organizations, enterprises, foreigners working, studying and living in Vietnam.

At the Forum, the business community dialogued with Vietnam Government on investment environment, trade, tax and customs, labor and employment, banking and capital markets, infrastructure, agriculture, tourism./.