Chairman of the Vietnam Chamber of Commerce and Industry and a NA deputy of Thai Binh province Vu Tien Loc speaks at the session (Source: VNA)

Hanoi (VNA) – Many National Assembly deputies shared the view that the Government should take more drastic measures so as to achieve the goal of 1 million enterprises by 2020, noting the under-expectation results of Resolution 35/2016/NQ-CP on developing enterprises to 2020.

Vu Tien Loc, Chairman of the Vietnam Chamber of Commerce and Industry and a NA deputy of Thai Binh province, said it will be a challenge to fulfill the target.

At present, the country registers 600,000 firms, which means in the next two years, each year should see the establishment of at least 200,000 more enterprises in order to reach the desired number, Loc said.

He added that it will be an impossible mission, considering the current slowdown in the number of new firms, while more than 5 million household businesses, which contribute 30 percent of GDP, do not want to upgrade into official companies.

The NA deputy explained that there have not yet any suitable accounting and taxation regimes for small enterprises to ensure fair treatment to them and household businesses. He called on the Government to study adjustments to the laws on accounting and tax to encourage small enterprises.

Deputy Nguyen Van Than, also of Thai Binh province, shared Loc’s view, stressing that many household businesses do not want to upgrade because they enjoy more preferential treatments than small enterprises do.

Deputy Luu Binh Nhuong of Ben Tre province joined in calling for revising regulations on household businesses in order to achieve the goal of 1 million firms in 2020.-VNA