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For more open business climate in VN

VGP – Though being optimistic about Việt Nam’s economic prospects, the business circle are proposing the Government to untie "knots" in order to create a more open investment environment and promote sustainable growth.

December 01, 2009 4:22 PM GMT+7

The Việt Nam Business Forum is held in Hà Nội, December 1, 2009 – Photo: VGP
At the Việt Nam Business Forum held in Hà Nội on Tuesday as part of the Consultative Group Meeting, the business community highly praised the Government’s successful efforts in curbing inflation and navigating the national economy through the recent global financial crisis.

According to a survey jointly conducted by the Ministry of Planning and Investment and the World Bank in 291 domestic and FDI enterprises in Việt Nam, over 83% informed that they would expand operations within three years.

President Alain Cany of EuroCham Việt Nam stated that consistent policies adopted by the Government of Việt Nam, particularly fruitful stimulus packages and administrative procedures simplification, have brought about optimism for the business circle.

Meanwhile, Mrs. Victoria Kwakwa, WB Country Director in Việt Nam, highly spoke of the Government’s renovation efforts to ensure economic recovery.

Troublesome administrative procedures, poor infrastructure and unskilled human resource are challenges to many enterprises now.

So, many delegates suggested the Government perfect the legal mechanisms and offer more chances for private investors to engage in upgrading infrastructure.

Minister of Planning and Investment Võ Hồng Phúc reiterated that the Government will review such fields as education, investment cooperation and infrastructure.

"We resolve to untie "knots” to create more open and favorable business environment, so as to boost sustainable economic growth," said Minister Phúc.

By Xuân Hồng