Expectations for concrete action

There are still many obstacles preventing the operation and growth of the private business sector from meeting expectations. Therefore, supporting and motivating the Vietnamese business community requires more specific and fundamental solutions, both in the short and long term.

That was the key message emphasized at the online seminar "Improving the Investment Environment: Empowering Vietnamese Businesses" organized by the Industry and Trade Newspaper on September 19th in Hanoi .

Speakers participating in the seminar "Improving the Investment Environment: Empowering Vietnamese Businesses" - Photo: Can Dung

"Support" from mechanisms and policies

Recognizing the crucial role of Vietnamese businesses in national development and construction, the Party, Government, and the entire political apparatus have, over the years, issued numerous specific policies and directives to support this core force in the country's economic development. Most recently, Resolution No. 41-NQ/TW dated October 10, 2023, of the Politburo on building and promoting the role of Vietnamese entrepreneurs in the new era can be seen as a guiding principle and a consistent direction of the Party for a vital segment of human resources and potential in the development and construction of a strong and prosperous Vietnam.

To realize Resolution 41 of the Politburo, the Government issued Resolution No. 66/NQ-CP promulgating the Government's action program on building and promoting the role of Vietnamese entrepreneurs with specific goals. Accordingly, from now until 2030, there will be at least 2 million businesses; by 2030, at least 10 Vietnamese entrepreneurs will be included in the list of the world's USD billionaires, and 5 of the most powerful entrepreneurs in Asia as selected by prestigious international organizations. The goal is to form and develop a Vietnamese entrepreneur workforce with the scale, capacity, and qualifications to meet national development goals, achieve high incomes, and possess prestige and influence in the region and internationally.

The direction is clear, the strategy is specific, and in reality, the Government and ministries and localities have implemented mechanisms and policies to improve the investment environment, remove difficulties, and support the business community.

With approximately 800,000 active businesses, the private sector contributes nearly 45% to the country's GDP, one-third of state budget revenue, over 40% of total social investment, and creates jobs for 85% of the country's workforce.

Furthermore, the private sector plays a crucial role in Vietnam's international trade, accounting for 35% of total imports and 25% of total exports. Capital from the private sector has made a significant contribution to socio-economic development, increasing from 51.3% in 2016 to 59.5% in 2021.

We must avoid a situation where the top is enthusiastic but the bottom is indifferent.

At the seminar, experts also stated that the growth of Vietnam's private economy in recent years is due to the efforts to improve the investment and business environment from the Government to ministries, departments, and localities.

Mr. Hoang Dinh Kien - General Director of Hoa Phat Logistics Joint Stock Company - Photo: Can Dung

From a business perspective, Mr. Hoang Dinh Kien, General Director of Hoa Phat Logistics Joint Stock Company, stated that the business environment has improved significantly in recent years. Hoa Phat Logistics Joint Stock Company is one of many entities that have directly benefited from policies dành for the private business sector. Specifically, regarding the investment environment, the company has boldly invested in warehouses in various localities, serving industrial parks and FDI enterprises.

At the same time, the company also invested in expanding its fleet, which now numbers nearly 400 vehicles. Asset investment has grown by approximately 15 times, and revenue has increased correspondingly.

However, according to experts, alongside the achievements, recent surveys of the business community on Vietnam's business environment have also revealed some concerns among businesses. For example, obstacles in accessing land, an unequal business environment, market volatility, and policy changes.

Lawyer Le Anh Van - Member of the Standing Committee of the Vietnam Association of Small and Medium Enterprises - Photo: Can Dung

Sharing specific insights on this issue, Lawyer Le Anh Van - Member of the Standing Committee of the Vietnam Association of Small and Medium Enterprises - stated that businesses still face several challenges. One of the main obstacles is the overlapping and conflicting nature of legal regulations, making it difficult for businesses to implement projects, especially in accessing land and planning.

The Prime Minister established a Steering Committee to review legal documents to address these shortcomings, aiming to create a more transparent and consistent legal environment for businesses. However, implementation at the grassroots level remains inconsistent, leading to a situation where directives from higher levels are not fully implemented at lower levels.

Sharing the same view, Mr. Phan Duc Hieu, Standing Member of the National Assembly's Economic Committee, stated that there are several areas that need improvement. First and foremost is ensuring fair competition for businesses. Currently, there is a phenomenon where the same procedures are slower in some places than others, creating unfairness among businesses. Similarly, with the same import procedures, some ports release goods faster than others, potentially harming businesses whose goods are shipped out earlier and have an advantage over later shipments.

Mr. Phan Duc Hieu - Standing Member of the National Assembly's Economic Committee - Photo: Can Dung

Notably, Mr. Hieu argued that, during implementation, state agencies may not be wrong about the law; specifically, regulations may allow for issuance within 5-10 days, but for businesses, early issuance of 1-3 days could be a business opportunity, while delayed issuance of 1-3 days could be a loss.

"Clearly, this situation can be improved. I see many things that can be improved if we do our best, always prioritizing the interests of businesses. From a business perspective, we hope for better policy implementation, not just compliance with the law. In international experience, there's a saying, 'beyond compliance' – meaning that even though the law stipulates certain things, people always expect those involved to do better, even when the law doesn't require it," Mr. Hieu commented.

Source: https://congthuong.vn/cai-thien-moi-truong-dau-tu-ky-vong-hanh-dong-thuc-chat-347852.html