Illustrative image (Photo: VNA)

HCM City (VNA) –
The Investment and Trade Promotion Forum 2016 themed “TPP Agreement: Business support solutions," was held in Ho Chi Minh City on April 27.

At the event, which was organised by the HCM City Union of Business Associations (HUBA), participants discussed solutions to help small and medium-sized enterprises enter into the markets which have free trade agreements (FTA) with Vietnam.

HUBA’s president Huynh Van Minh said Vietnam considers the private sector an important driving force of development and the country has actively taken measures to boost the equitisation of state owned enterprises (SOEs).

The Government has implemented policy to help enterprises improve competitiveness, he said, adding that ministries and relevant agencies are focusing on administrative reforms with the aim of creating favourable conditions for businesses.

According to Minh, the Government should further encourage enterprises operating in supporting industries through low interest rate loans, and development of national-level science and technology research institutes.

In accordance with the principle of the Trans-Pacific Partnership (TPP) agreement, import tariffs will be reduced to zero and Vietnamese businesses have a chance to participate in the TPP’s new supply chain, said La Thi Lan, general director of Tien Loc Co.,Ltd.

She said enterprises should boost cooperate in order to raise their competitiveness due to the fact that weak businesses will face difficulties in competition and market expansion.

Experts suggested top priority be given on products’ quality, meeting FTA’s requirements.-VNA