Business plays key role in reforms

Mar 20th at 13:32
20-03-2015 13:32:39+07:00

Business plays key role in reforms

The business community plays an important role in driving regulatory reforms in Viet Nam which are critical to fostering stronger and more inclusive growth in the country, heard a conference in Ha Noi yesterday.

 

The workshop on partnering with businesses on regulatory reforms to enhance competitiveness is the first to implement a recently-issued Resolution on improving the business environment and national competitiveness during the 2015-16 period.

Most participants at the workshop agreed with the need to establish public private partnerships to help strengthen the participation of Viet Nam's business community in regulatory reforms.

Vu Tien Loc, Chairman of the Viet Nam Chamber of Commerce and Industry (VCCI) and Deputy Chairman of the Consultative Council for Administrative Procedure Reform, said businesses would play a key role in that process.

The improvement of national competitiveness depended on many factors but it was particularly important to build a transparent regulation to create a favourable business environment and to build a strong business community in which businesses could play a key role in the economy.

In order to promote the participation of businesses in regulatory reforms, it was essential to develop and to implement programmes aimed at improving the capacity of business associations which would then help to improve capacity, particularly among small-and medium-d businesses, he said.

He stressed that businesses should regularly propose and respond to information from the Government via different channels such as associations and the VCCI.

Challenges and shortcomings in business activities they reported would be very important to help accelerate regulatory reforms, thus creating a more favourable business environment, he said.

Associations played a key role in these issues, so Viet Nam would increase support for them to help them assist the business community, he added.

Participants also said the VCCI and hundreds of business associations needed to improve their operation capacity, and increase studies and surveys to assess quality of the implementation of administrative procedures in order to give recommendations to the Government.

The VCCI should also work with relevant agencies to collect opinions from businesses on new policies, they said.

The United States Agency of International Development (USAID)'s Assistant Administrator for Asia Jonathan Stivers said while new laws and regulations, trade agreement commitments and commitment to reform by Governments were all essential ingredients of effective efforts to improve the business environment, but only when they were complemented with partnerships with the private sector could they be successfully transformed into effective institutional arrangements that enhanced competitiveness.

Representing the business community, Secretary General of the Viet Nam Textile and Apparel Association Dang Phuong Dung said: "We really want to improve the business environment because we have to compete with domestic businesses and also those from around the region and the world at large."

Vice Chairman of the National Assembly's Law Committee Le Minh Thong said regulatory reforms should not only focus on building and issuing legal documents, but also on how they were implemented.

He stressed that the business community determined the destiny of regulations issued by the State.

On this occasion, the VCCI and the General Department of Customs launched the 2015 Customs and Tax Satisfaction Survey, an initiative to raise the voice of businesses in regulatory reforms for trade facilitation.

bizhub



NEWS SAME CATEGORY

Travel firms upbeat about April holiday

Viet Nam's tourism industry expects to earn significant profits during the upcoming six-day holiday at the end of April.

Where there’s a will, there’s a way: Vietnam masters advanced oil rig building technology

By starting with foreign experts involved in oil rig construction projects, two Vietnamese companies have spared no effort to master the technology, and ended up...

Vingroup may become strategic investor in VEFAC

Property developer Vingroup may acquire an 80 per cent stake in Vietnam Exhibition Fair Centre Co. Ltd. (VEFAC) and become a strategic investor in the firm.

Egypt and Siemens to massively increase power generation capacity

Siemens, a global technology powerhouse, and the Egyptian government have recently reached firm agreements to build a 4.4 GW combined-cycle power plant and install...

PM approves EVN's capital increase

Prime Minister Nguyen Tan Dung has approved a plan to raise Electricity of Viet Nam's (EVN's) charter capital to VND160 trillion (US$7.62 billion) by the end of...

PM approves EVN's capital increase

Prime Minister Nguyen Tan Dung has approved a plan to raise Electricity of Viet Nam's (EVN's) charter capital to VND160 trillion (US$7.62 billion) by the end of...

PM approves EVN's capital increase

Prime Minister Nguyen Tan Dung has approved a plan to raise Electricity of Viet Nam's (EVN's) charter capital to VND160 trillion (US$7.62 billion) by the end of...

Construction begins at pharmaceutical plant

The Medochemie Far East Company under the Cypriot Medochemie Group broke ground for a new pharmaceutical plant in the Viet Nam-Singapore Industrial Park II A (VSIP)...

Italian firms from Lazio explore local market

A number of businesses from the Lazio region in Italy, considered a major centre of diplomatic and commercial activity, have shown interest in the young, dynamic...

VN, Myanmar need co-operation body

Viet Nam and Myanmar need to establish a State committee on economic cooperation and sign a double-taxation avoidance agreement to boost trade.


MOST READ


Back To Top