Illustrative image (Photo: tapchitaichinh.vn)

The 2023 Vietnam Business Forum (VBF) opened in Hanoi on March 17 under the theme of “Business Community in Partnership with Government of Vietnam in Fostering Green Growth”.

The annual forum, co-organised by the Vietnamese Ministry of Planning and Investment and the World Bank Group’s International Finance Corporation (IFC), serves as an uninterrupted and close dialogue mechanism between the Government and the domestic and foreign business communities in order to improve business conditions to promote the development of the domestic private sector and facilitate the investment environment, thus contributing to Vietnam's sustainable economic growth.

In her opening remarks, MPI Deputy Minister Nguyen Thi Bich Ngoc said throughout its 25-year history, VBF has always adhered to the goal and mission of acting as a bridge between the business community and Government agencies. Through the forum, the business community has provided feedback and recommendations to improve the business and investment environment and promote sustainable socio-economic development, while constantly renewing their vision and operation methods towards paying greater attention to social responsibility.

MPI Deputy Minister Nguyen Thi Bich Ngoc (C) speaks at the forum (Photo: VNA)

In 2022, the scale of Vietnam's economy exceeded the 400 billion USD mark for the first time with a growth rate of 8.02%, far higher than the set target and the highest growth rate in the past decade. Foreign direct investment almost reached 30 billion USD, while the import and export turnover amounted to 732.5 billion USD, putting Vietnam in the top 20 countries with the largest trade scales. Despite being in the post-COVID-19 recovery development phase, FDI disbursement increased by 13.5% year-on-year, once again affirming the attractiveness of Vietnam's investment environment on the regional and global investment maps.

During the forum’s technical session, research groups are expected to report on many topics related to preparations for the period of energy transition and circular economy; and sustainable development and competitiveness enhancement in the new context.

A high-level session of this year’s forum is scheduled to take place on March 19./.