The Government hopes to hear from enterprises and international organisations to better design policies and mechanisms for business activities and boost sustainable economic development, Prime Minister Nguyen Tan Dung said at the Vietnam Business Forum (VBF) that opened in Hanoi on December 2.

The PM said the participants’ straightforward and constructive opinions given at the forum will serve as the basis for the Government to adjust and complete its policies, making them more practical and effective in the spirit of backing the development of the business community.

He made clear the goals that the Government had set for 2015, including ensuring macro-economic stability, achieving a GDP growth of 6.2 percent, reducing inflation rate to 5 percent, and keeping bad debts at a safe level.

The Government also targeted an average 6.5-7 percent growth for the 2016-20 period, said the cabinet leader.

To this end, the Government will continue completing institutions of a market economy, prioritising the reform of institutions, legal system and administrative procedure whilst developing capital, currency, labour and real property markets, thus enabling businesses to enhance their competitiveness, he said.

The business environment will also be improved, along with stronger fight against smuggling, fake commodities and tax evasion, he pledged.

PM Nguyen Tan Dung stated that Vietnam is intensifying international integration by making full use of trade deals and speeding up negotiations for new ones.

He also underscored that corruption prevention and fight is one of the Government’s priorities, focusing on reforming administrative procedures and stepping up transparency in the management of public assets, finance and budget, minerals and State-owned enterprises.

In addition, the Government will also work harder to ensure social welfares in all fields, including employment, health care, education and poverty reduction.

Meanwhile, Virginia Foote, Co-chair of the forum, noted that since the previous forum in June, Vietnam has gained remarkable progress in a number of areas important to the business community.

She highlighted the National Assembly’s recent approval of the revised Laws on Investment and Enterprises and the implementation of the revised law taxation, which will help reduce tax declaration duration for enterprises and ease the conditions for granting work permit to foreigners. She added that the Government has also paid attention to the recognition and enforcement of decisions by foreign arbiters, while the ceiling on advertising spending will be abolished along a detailed roadmap.

The VBF was established as a project of the Vietnam Consultative Group at a meeting between the Vietnamese Government and its donor partners in Tokyo in 1997. It is an official dialogue between the Government and the business community for the building of a favourable business climate, attracting investment and encouraging economic growth.

This year, the forum was held in a context that a series of actions were taken by the Government to improve the investment environment, increasing the transparency and gaining confidence of investors.

High on the agenda of the forum this time are the issues related to bad debts, public debts, ways to boost private sector’s growth, labour, the equitisasion of State-owned enterprises, administrative procedure reform, and emerging matters in joining trade deals.-VNA