Business community tables proposals for PM

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The business environment is positively transforming to become more accommodating for enterprises. The tremors of these changes echoed through the country’s socioeconomic development in 2016 and the first four months of 2017.

Prime Minister Nguyen Xuan Phuc's dialogue with the private sector on May 17 is the second one since he was elected

However, thee are still debilitating weaknesses in the business environment, which are reflected in the recently released Provincial Competitiveness Index and the Public Administration Performance Index 2016 (PAPI).

At present, it is important to realize the policies mentioned in the Resolution of the Fifth Central Meeting of the 12th Plenum of the Communist Party of Vietnam. These include the policies on land, finance, credit, labour and salary and policies on education, science, and technology, as well as policies on trade promotion.

It is necessary to eliminate regulations that go against the mission of encouraging the private sector’s development, such as the regulations that restrict the right to do business and the ones that increase firms’ input costs.

Especially, the state governance should catch up with the Fourth Industrial Revolution. The government cannot say that because it cannot control it has to restrict or forbid activities related to application of knowledge and high-tech to create an economy with rapid development and high competitiveness.

With these changes, enterprises will be able to compete in the Fourth Industrial Revolution, as speed and creativity are the keys to success. Besides, the government should see to the challenges in improving the quality of human resources and IT security.