Businesses hope the Government will be a support when their blood pressure drops

While affirming that the business community is not dependent on the government, BRG Chairwoman Nguyen Thi Nga said she hopes the government will be a source of support when they face difficulties.

The Standing Committee of the Government held a meeting with the business community on the afternoon of October 11th, two days before Vietnamese Entrepreneurs' Day. This was an opportunity for leaders of the Government, ministries, sectors, and localities to share and listen to businesses, especially in the context of this community striving to "weather the storm".

Since the emergence of Covid-19, Vietnamese businesses have continuously faced numerous challenges. Over the past nine months, despite some signs of economic recovery, business remains difficult due to decreased domestic and international consumer demand and rising input costs. According to Thaco Chairman Tran Ba Duong, these challenges will persist until 2024.

Speaking at the meeting, businesses highly appreciated the government's efforts to remove obstacles and create a favorable business environment. BRG Chairwoman Nguyen Thi Nga said that the government had found ways to help real estate businesses and the bond market overcome fluctuations and instability. Without these solutions, which, according to Ms. Nga, included tolerance, "hundreds of businesses and thousands of people would have been in trouble."

In addition, businesses also mentioned solutions such as reducing taxes and fees, and streamlining business conditions.

"We hope the government will always be a source of support when businesses experience setbacks or difficulties. We will return to normalcy and strive for development; we will not rely on the government but will work together and cooperate with it," Ms. Nga said.

Business leaders attend a meeting with the Government Standing Committee on the afternoon of October 11. Photo: VGP — Business leaders attend a meeting with the Government Standing Committee on the afternoon of October 11. Photo: *VGP*

Concurring, FPT Chairman Truong Gia Binh expressed his hope that the government would "show even more love to businesses, remove more obstacles, and lower taxes and fees even further." With such support, he believes, businesses will be like birds spreading their wings in the sky, propelling Vietnam to the position of a powerful nation.

In fact, despite the many challenges ahead, businesses remain determined to contribute to raising Vietnam's standing on the international stage.

Chairman of Phu Thai Group, Pham Dinh Doan, assessed that Vietnamese entrepreneurs are in no way inferior when compared to those around the world. After 30 years of development, this community has matured with many talented individuals.

He said that entrepreneurs now want to contribute more and more, on a larger scale, to the country. Many also want to cooperate to form large economic corporations, conduct business systematically, and create many large, highly effective projects.

"We will continue to bring innovative products bearing the Vietnamese brand to serve the Vietnamese people and to the world. At the same time, we will continue to bring the world to Vietnam," added Ms. Nguyen Thi Phuong Thao, Chairwoman of Sovico Group.

Prime Minister Pham Minh Chinh held discussions with businesses on the afternoon of October 11. Photo: VGP — Prime Minister Pham Minh Chinh held discussions with businesses on the afternoon of October 11. Photo: *VGP*

Following these remarks, Prime Minister Pham Minh Chinh affirmed that the Party, the State, and the people always stand as a pillar of support and trust for the business community . He stated that this force plays a crucial role in building and developing the country.

Vietnam has nearly 900,000 active businesses, approximately 14,400 cooperatives, and over 5 million business households; the business sector contributes more than 60% of GDP. Among these, many businesses have made a significant impact, establishing their value and brands globally, helping to enhance Vietnam's standing.

Given the anticipated continued challenges, the Prime Minister stated that the government will accelerate the implementation of Resolution 41, which has just been issued, in order to support businesses.

Accordingly, the Government will continue to stabilize the macroeconomic situation, control inflation, and promote growth. Vietnam will continue to promote improvements in investment and business, remove unnecessary barriers, and address credit bottlenecks. Difficulties faced by businesses will be reviewed and addressed promptly. Capital, real estate, and labor markets will be developed in a healthy and transparent manner, meeting the requirements of a shift towards quality-oriented, innovation-based markets.

The Prime Minister also stated that the disbursement of public investment will continue to be prioritized, and public investment will lead to private investment, especially promoting investment by state-owned economic groups, corporations, and medium and large private enterprises.

Regarding businesses, the Prime Minister urged them to continue improving their capabilities to reach regional and international levels. He also emphasized that associations need to effectively fulfill their roles in supporting businesses, providing advice, and offering feedback on relevant policies.

Duc Minh

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