In the age of globalization and technological breakthroughs, businesses play an important role in economic growth, said PM Nguyen Xuan Phuc. 

PM Nguyen Xuan Phuc addresses at the conference with the business community,
Ha Noi, December 23, 2019 - Photo: VGP/Quang Hieu 

PM Phuc made the point at a conference with the business circle on December 23 in Ha Noi. 

According to the Government, in the age of globalization and technological breakthroughs, businesses play an important role in economic growth, generating added values and boosting scientific application to the economy.

The Government chief took the occasion to brief initial socio-economic development performance. Amidst the regional and global economic recession, Viet Nam is expected to witness a GDP growth rate of over 7%. The business environment was stable with low inflation rate. The country is supposed to run a trade surplus of over US$ 9 billion. Export turnover would for the first time touch US$ 500 billion. Foreign reserves would reach a new record high. Budget deficit and public debts dropped significantly. FDI attraction would reach over US$ 32 billion. FDI disbursement valued over US$ 17.7 billion, the highest level than ever. Poverty rate dropped to 1.45%. 

The PM treasured the great and comprehensive contributions of entrepreneurs to national development. 

He stressed that the Government would spare no effort to minimize risks and costs for businesses especially risks of regulations, policies, and administrative harassment. 

However, it is necessary to remove bottlenecks for enterprises to develop in a sustainable manner; grow in number and quality. 

PM Phuc suggested enterprises voice problems and difficulties in production, business, planning, land accession, site clearance, credit access, labor, market access, technology, administrative procedures, tariffs, water and power supply, and others. 

He called upon the business circle to raise up their challenges and difficulties in the context of global economic recession, trade dispute, economic integration into new-generation FTAs, impacts of the fourth industrial revolution; propose the Government’s support in order to help them to raise competitiveness. 

The Government recommended delegates give proposals to improve interaction and cooperation among ministries, sectors, and localities. 

PM Phuc also pledged to stand by and discuss frankly with the business community and help them remove difficulties in 2020 and the coming years. 

He highlighted the spirit of thinking big and taking bold actions to make their dreams come true. However, the PM warned enterprises of not violating laws.

The PM revealed that after the conference, the Government will release a resolution on orientations to remove difficulties for enterprises./.