Hanoi – February 21, Prime Minister Pham Minh Chinh attended the High-level Session of the Annual Vietnam Business Forum (Annual VBF) held in Lotte Hanoi.
In the opening remark, Mr. Funayama Tetsu, VBF Co-Chair gave the summary of the outcome of the Technical Session held on 18th February, in which highlighted three main points for further discussion:
1) Some shortcomings and limitations in the implementation of administrative policies which seems sometimes rigid and inconsistent in working levels in both central and rural governments for foreign enterprises to face difficulties;
2) Some overlapping and conflicting laws and regulations especially in terms of newly emerging domains such as Digital Economy and Environment, where legal framework may become more flexible to let foreign enterprise to vigorously launch;
3) Some new initiatives in implementing administrative works, where new challenges under COVID-19 emerges to both domestic and foreign enterprises and expected an urgent measure is strongly expected.
Speaking at the event, Prime Minister Chinh emphasized major directions and orientations to the year 2022, detailing:
- Continue to perform tasks in the context of the “new normal” and implement a program of socio-economic recovery and development with a scale of VND 350,000 billion (about over 4% of GDP), along with a pandemic prevention and control program based on accumulated experience in the last 3 years.
- Focus on solutions to restore the supply chain, ensure the circulation of goods, stabilize the source of fuel; ensure safe and smooth production and business activities. The focus is on prioritizing measures to ensure disease safety, simplify administrative procedures, and remove obstacles of mechanisms and policies in tax, credit, human resources, infrastructure, and logistics. Especially, developing a more oriented, competitive, efficient, and sustainable market in the following fields: Capital, land, resource, science and technology, and intelligence.
- Create an equal environment among all economic sectors; encourage private and foreign investment; investment in high technology, supporting industries, smart agriculture, environmental protection, renewable energy; construct infrastructure and projects serving social security.
- Give more priority to science and technology investment, improve research and development capacity
- Take advantage of the opportunities from new-generation FTAs such as the CPTPP, EVFTA, RCEP, etc. to expand Vietnam’s market, diversify investment and business relations, and harmoniously balance with domestic market development; take strong and effective measures to prevent smuggling, trade fraud, the origin of goods, etc.
- Consider internal resources (including people, natural resources, historical and cultural traditions) as basic and long-term strategies; and external resources (support in institutions, finance, technology, governance, and human resource) as important and breakthrough factors, Vietnam is focusing on three strategic breakthroughs in terms of institutions, infrastructure, and human resources.
- Regarding institutions, Vietnam will focus on amending and supplementing the legal system, especially new arisen issues that need to be adjusted to remove obstacles in terms of mechanisms and policies, creating favorable conditions for social-economic development.
- Regarding infrastructure, Vietnam will focus on strategic infrastructure, especially traffic infrastructure, digital infrastructure, infrastructure adaptation to climate change, etc.
- Regarding human resource training, Vietnam has strongly shifted from only equipping knowledge to comprehensively developing learners’ capabilities and qualities.
- Besides, Vietnam will continue to build and develop an advanced culture with national identity
- Regarding digital transformation, the Prime Minister emphasized that Vietnam is accelerating a comprehensively digital transformation (digital infrastructure, digital government, digital citizenship, digital economy)
- Regarding green transformation, in the spirit of not sacrificing the environment and towards sustainable development, the Prime Minister hoped to receive more support and help from the international community on institutional improvement, diversification of capital sources, green technology, clean technology, governance, and human resources.
In conclusion of the event, the Prime Minister highly appreciated the VBF’s efforts in providing useful recommendations to the Vietnamese Government in the Covid-19 pandemic periods. In response, business communities are strongly committed to continue accompanying with the Government in restoring the economy and developing supply chain in the new normal.
The full report of High-level Session, Annual VBF can be downloaded at