The Vietnamese government is working on an economic development plan,targeting a faster and more sustainable economy between 2016 and 2020,Deputy Prime Minister Vu Duc Dam told 400 business executives at thefirst Forbes Vietnam business forum in Ho Chi Minh City on July 3.
It will be done in tandem with addressing social and environmentalconcerns and bringing out sweeping overhaul in education and healthcare, he said.
The ambitious plan also requires the developmentof the farming sector and rural areas to ensure that all walks of lifeacross the nation enjoy its fruits.
Challenges, however, are still ahead in the next 20 years, he acknowledged.
“Vietnam is able to keep up with regional countries only when itrecords an annual economic growth of 8-9 percent,” he stressed.
According to his announcement, the Vietnamese government will strive toreduce tax filing duration from 870 hours to 170 hours per year betweennow and 2015, as part of efforts to improve the business climate.
Rich Karlgaard, Forbes’s publisher, in his speech, underscoredthe importance of creativity that will help businesses beat theirrivals.
Attendees showed their interests in how to fostereconomic growth, rise to the top, and access capital for businessexpansion and innovation investment.-VNA