Innovation, creativity needed to promote national economy: Deputy PM

Hanoi (VNA) – Deputy Prime Minister Vuong Dinh Hue has urged businesses nationwide to promote innovation and creativity and enhance links, contributing to promoting the country’s economic development.

Speaking at a meeting in Hanoi on June 3 with the 100 outstanding young entrepreneurs in 2016, Hue asserted the Party and State’s consistent policy of supporting businesses, adding that both Party and State always consider businesses as the vanguard in national economic development.

He stressed that the Government will devise measures to support enterprises in developing production and business, and in start-up activities, noting that private enterprises are vital to promote the nation’s economy.

The Government is going to submit a draft law on supporting small - and medium - sized enterprises to the National Assembly for approval, towards assisting all economic sectors in sustainable development, and boosting links among domestic firms and foreign-invested enterprises.

The Party and State encourage equal competition among economic sectors, and respect the business freedom of all individuals and enterprises, he remarked.

While hailing young entrepreneurs for their start-up efforts, Hue affirmed that the Government will outline policies to support start-up work through setting up start-up and venture capital funds, thus creating a legal framework for promoting start-ups .

The country aims to form 1 million start-up enterprises by 2020, Hue said.
The Deputy PM added that the Government will do their best to foster administrative reform, aiming to facilitate businesses’ operation.

Hue asked enterprises to further bolster their connection, and remind them to pay attention to improving living conditions for employees, maintaining stability and promoting advancement.-VNA