Dau Anh Tuan, director general of the Legal Department of Vietnam Chamber of Commerce and Industry, talks to Customs newspaper about Vietnamese enterprises’ need for more Government support.

The land price spike has caused investors to reconsider their projects and postpone new business plans.

Chair of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc believes that attaching importance to developing the private economic sector is the way to make the country prosperous.

If Vietnam is not determined to reform, it will be a lower average income country forever, writes Vu Tien Loc, chair of the Vietnam Chamber of Commerce & Industry (VCCI) for ‘For a Powerful Vietnam’, a forum initiated by VietNamNet.

VietNamNet Bridge - While government officials believe that the goal of developing 1 million businesses by 2020 is within reach, economists disagree.

VietNamNet Bridge - Foreign investors receive significant investment incentives in Vietnam and have the same rights as Vietnamese investors.

The National Assembly’s economics committee warned that the target of developing 1 million businesses by 2020 may be unattainable, especially as barriers hindering businesses still exist and the number of dissolved businesses is on the rise.

At the Vietnam Economic Forum held some days ago, experts from the World Bank said that $60 billion hoarded by the public could be a huge capital resource for the country’s development.

VietNamNet Bridge - Foreign investors registered 527 projects from the beginning of the year to July 15, with total capital of $498 million, according to the HCMC Planning & Investment. 

Vietnam’s products overseas, especially in the US, have been facing more anti-dumping lawsuits in recent years. 

Domestic businesses should closely monitor the market situation, prepare to adjust their operations and redefine export markets to avoid negative impacts and capitalise on opportunities from the US-China trade war.

The Vietnam Chamber of Commerrce & Industry and experts have warned that minimum limits on petroleum imports to be allocated by the Ministry of Industry and Trade may kill small businesses.

VietNamNet Bridge - Though exports have been growing well, concern still exists because wooden furniture industry is in need of materials.

The General Statistics Office (GSO) has announced there was an excess of exports over imports of $2.8 billion in the first 11 months of the year. 

 VietNamNet Bridge – Prime Minister Nguyen Xuan Phuc hosted separate receptions in the central city of Da Nang on November 7 for corporate executives from the US, China and multinational corporations

VietNamNet Bridge - Vietnam’s business environment and competitiveness have continued to move up in international rankings.

On August 24, a new ‘Businessmen’s Café’ opened in the northern province of Quang Ninh. Such special cafes have opened in many cities and provinces throughout the country, acting as a rendezvous point for local authorities and businesspeople.

VietNamnet Bridge - Despite reform, thousands of sub-licenses still exist, affecting businesses’ performance.

VietNamNet Bridge - The US NAR (national association of realtors) reports that Vietnamese transferred $3 billion abroad last year to buy houses in the US. 

VietNamNet Bridge - The majority of young millionaires want to stay hidden for fear they may meet problems if they become famous.