SMEs account for 97% of the country’s business circle, making up around 40% of the gross domestic product and 33% of the total industrial output. They have created jobs for 50% of the country’s workforce.
Based on the aforesaid facts, the resolution passed at the 12th National Party Congress states that businesses are the driving force of economic development.
In a bid to realize the Party’s guideline, the Government has focused on building a constructive Cabinet marked with integrity and drastic action to serve business development.
The Government also approved a number of resolutions to foster business startup and create favorable conditions for businesses to flourish. The interactions and service spirit have become the foundations of the relations between the Government and businesses, PM Phuc said.
The Government has identified institutional improvement as one of its key tasks and truly considered private sector as a key force for growth. From this perspective, it is necessary to shape an equal and transparent environment for businesses.
The Government chief also urged businessmen to say NO to corrupted acts and pursue the spirit of integrity in doing business.
Viet Nam has more than 600,000 enterprises, including 102,000 new ones freshly established in 2016. The Government planned to raise the total figure to one million by 2020.
However, according to a survey, only 21% of them have links with the global supply chain compared to 30% in Thailand and 46% in Malaysia.
Meanwhile, investments for technological innovations only account for less than 0.3% while the rate is 5% in India, 10% in the Republic of Korea and 50% in Japan, PM Phuc pointed out.
PM Phuc said that the shortest way for Vietnamese businesses to join the global supply chain is to shake hands with multinational corporations./.
By Hai Minh
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