G2B conference aims to boost economic recovery


VIETNAM, Aug. 12 – HÀ NỘI — A government to business (G2B) conference opened on Thursday, providing a platform where the government can explore private sector views and proposals.

Chaired by Prime Minister Phạm Minh Chính, the hybrid event brought together cabinet members, representatives of Party and National Assembly committees, local governments, industry and business leaders.

It is also an opportunity for the two parties to discuss the impact of global uncertainties on the country’s socio-economic growth and identify ways to boost production for faster and more sustainable economic recovery and development.

Addressing the event, the Prime Minister said that through tireless efforts over the past two years, Việt Nam has managed to contain the COVID-19 pandemic, with a stable macro-economy, subdued inflation and positive economic growth.

The conference is organized for the government to know about the losses and challenges faced by private companies during the two years of the pandemic and to pay tribute to the business community for making contributions to the country in a difficult time, Chính said. .

Calling for the development of an independent, self-sufficient and globally integrated economy with a strong business community, the Prime Minister said participants were to come together to assess the performance of the private sector over two years and make recommendations for the business community to develop and mature healthily. , contributing to rapid and sustainable socio-economic growth.

The Prime Minister highlighted a number of important issues for the development of the economy and the business community.

These include continuing to maintain macroeconomic stability, controlling inflation, promoting growth and ensuring the major balances of the economy.

Companies must promote strong, safe, healthy, sustainable, open and transparent markets such as the real estate market, the capital market and the labor market.

He emphasized improving the business investment environment, administrative reform and building a digital economy, digital government, digital society and digital citizens.

The Prime Minister stressed the need to firmly safeguard independence, sovereignty and territorial integrity, maintain political stability, ensure social order, security and personal safety; stimulate production, business and create jobs for people.

He asked ministries, branches and localities to consider the difficulties and obstacles of all types of businesses, and at the same time have a plan to deal with them in a timely and effective manner.

The Prime Minister called for the disbursement of sources of public investment capital and the activation of all sources of capital in society, including corporate capital.

Finally, he emphasized understanding the situation, researching and forecasting strategies, and providing accurate and timely information to help companies grow, diversify market types, innovate in technology and digital transformation.

Accordingly, the Prime Minister has indicated specific short-term tasks to focus on. These include the urgent removal of long-standing, unresolved legal obstacles and barriers that impede production and business activities; continue to reduce taxes, gas costs, and raw material and input costs for production and business.

Others include implementing COVID-19 pandemic prevention and control, especially vaccinations; strengthen the link between labor supply and demand, while training and retraining workers to meet market demands.

It was also necessary to intensify planning and investment in the construction of socio-economic infrastructure in order to improve the capacity and competitiveness of the economy.

The final task is institutional reform, reduction and simplification of administrative and commercial conditions, improvement of the business environment, promotion of the implementation of online procedures, non-monetary payments and the fight against corruption.

Government’s economic policies are proving effective: Minister

The impressive economic growth in the first seven months of this year reflects the effectiveness of policies that have been implemented recently, Minister of Planning and Investment Nguyễn Chí Dũng said at the meeting.

The minister said international organizations have expressed optimism about Vietnam’s economy, calling the country’s long-term credit “stable” and “positive”.

Many economists have rated Vietnam’s economic resilience as relatively good, he added.

The official cited a recent survey as showing that in the second quarter of this year, 70-80% of total businesses rated highly the effectiveness of government support to businesses amid the COVID-19 pandemic, in particularly those relating to taxation.

At the end of July, the country had 871,000 businesses, up nearly 13% from 2019.

In July alone, more than 130,000 companies joined and re-entered the market, a 26.8% year-on-year increase, he said, adding that investments poured into the economy over the past seven first months exceeded 3.3 quadrillion VNĐ (141.11 billion dollars). ), an increase of 37% year-on-year.

The market for a number of sectors, especially the domestic market, has recovered by 75-85% compared to the pre-pandemic period.

During the January-July period, the country’s export earnings were estimated at $216.35 billion, a year-on-year increase of 16.1 percent, with 30 products having export earnings over a billion dollars.

Minister Dũng pointed out that investor and business confidence continue to strengthen, with nearly 92% of companies expecting stable and expanded operations in the third quarter, and 85% of manufacturing-processing companies expecting stable operations. and better during the same quarter. period of time.

However, the official highlighted a number of shortcomings of the Vietnamese business community, including the small size of the majority of companies (98%), limited science and technology capacity and their modest engagement in the global value chain.

He pointed to a number of reasons behind the situation, in particular those contained in legal documents and institutions, which have been continuously pointed out in previous meetings between the Prime Minister and the business community, but which do not have not yet received satisfactory solutions. —VNS

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