PM affirms importance of business associations in reform process

PM Nguyen Xuan Phuc attaches importance to businesses' voices in the process of building a convenient investment climate. Photo: VGP

The Government chief made the statement at meeting with leaders of business associations on the occasion of the Viet Nam Entrepreneurs’ Day (October 13).

Over 5,000 administrative procedures have been abolished, especially those hindering the advancement of investment environment after having had consultations with business associations, PM Phuc said, adding that the reform efforts have also been hailed by the World Economic Forum and the World Bank.

The Government sets the target to increase the number of businesses to one million by 2020 and considers private economic sector as a key driving force of the economy.

Last year, the Government issued an action plan to accelerate the development of private economy which accounts for around 40% of the GDP and 85% of the total work force.

Last June, the Party Central Committee also adopted a Resolution on developing private sector an important driving force of the socialist-oriented market economy.

According to Vu Tien Loc, Chairman of the Viet Nam Chamber of Commerce and Industry (VCCI), there are some 500 businesses associations across Viet Nam and most of them are VCCI members.

The business associations have actively engaged in trade promotion activities, policy-making process, and poverty reduction, Loc said.

 By Thuy Dung