How to accelerate economic reforms to facilitate business operations was a major theme of the Vietnam Business Forum that opened in Hanoi on June 3. Deputy Prime Minister Vu Van Ninh attended the event.

As the largest business dialogue venue in the country, the forum is the mid-term event of the Consultative Group Meeting of Donors for Vietnam under the auspices of the World Bank’s International Finance Corporation and the Ministry of Planning and Investment.

It is the second year that the Associations of Local and Foreign Businesses have chaired the event and recommended policies to the Government.

The event started with a general assessment of the domestic investment environment.

Ten reports on banking, capital market, education, infrastructure, investment and trade were also delivered.

According to Vu Tien Loc, Chairman of the Vietnam Chamber of Commerce & Industry, delegates discussed the new draft Constitution, which is vital to the development of businesses. Secondly, they shared the view that corporate income tax should be cut to 20 percent, especially for large companies, to drive the local economy, he said.

As many as 500 delegates from the Government, ministries, departments, domestic and foreign enterprises attended the event.

The forum offers a chance to forge a continuous and close dialogue mechanism between the Governments and businesses at home and abroad. It aims to improve business and investment conditions to boost the development of the non-state sector, contributing to Vietnam ’s sustainable economic growth.-VNA