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| Overview of the Business Development Forum: "Removing difficulties, creating new development space for businesses". (Source: Business Forum Magazine) |
In 2023, the Vietnamese economy and the business community will face many difficulties and challenges due to the adverse impact of the world economy, causing economic growth to slow down. In order to contribute to reflecting the picture of the current situation of the world economy and Vietnam in the first 6 months of 2023, identifying challenges and opportunities for economic growth in the remaining months of 2023 and 2024, under the direction of the Vietnam Federation of Commerce and Industry (VCCI), Business Forum Magazine organizes the Business Development Forum: "Removing difficulties, creating new development space for businesses".
Opening the event, Mr. Hoang Quang Phong, Vice President of VCCI said that recently, due to complicated fluctuations in world geopolitics and major markets of Vietnam, the economy as well as indicators of production and business activities of enterprises are being greatly affected.
In the first 6 months of the year, GDP increased by only 3.72%. This is a low growth rate compared to the same period in the past 10 years, only higher than the growth rate of 1.74% in the same period in 2020 - the period most heavily affected by the Covid-19 pandemic.
According to Mr. Hoang Quang Phong, the production and business situation in the coming time is expected to continue to face many difficulties: the impact of the Covid-19 epidemic is still present; the problem of climate change, droughts, and floods is occurring abnormally; strategic competition between major powers; the Russia-Ukraine conflict has not ended; inflation in many countries; prices of gasoline, fuel, and raw materials are still high; the slow recovery and difficulties of major trading partners... In addition, the shift in value chains, requirements of partners, and markets towards sustainable production and consumption, the trend of green economy, digital economy, and the Industrial Revolution 4.0 are taking place strongly...
“That is requiring Vietnamese businesses to innovate to keep up with new trends, otherwise they will lose their competitiveness and lose the opportunity to move deeper into the global value chain,” Mr. Phong said.
Also at the forum, VCCI proposed a number of major solutions that need to be implemented, such as focusing on perfecting the legal framework for business investment, continuing to have solutions to reduce costs for businesses, and increasing access to resources from state support packages.
At the same time, timely solutions are needed to support some industries that are recovering strongly, such as tourism and services, which are currently facing difficulties in human resource shortages, and to build and perfect a legal framework to facilitate the emergence and development of business models based on innovation and creativity. Finally, it is necessary to promote the program of improving the business environment and enhancing national competitiveness.
Mr. Nguyen Hong Long, Deputy Head of the Steering Committee for Enterprise Innovation and Development, said that Vietnam is currently affected not only by internal difficulties but also by common difficulties of the whole world. Major economies in the world are showing signs of slowing down, even recession.
Due to practical difficulties, the Party, State and Government have focused on economic recovery, especially issuing many fiscal and credit policies. However, the problem is that the policy mechanisms are appropriate for the time but may not be practical for some industries and subjects.
In addition, the internal access of the beneficiary enterprises and their absorptive capacity. In 2023, the Government had many meetings with private enterprises, foreign direct investment (FDI) enterprises, a number of state-owned enterprises and representatives of small and medium-sized enterprise associations to grasp the actual situation, record recommendations and proposals to promptly adjust policies, helping to gradually remove difficulties and obstacles for enterprises.
According to Mr. Long, with the viewpoint that the Government continues to accompany and provide maximum support to businesses, considering removing barriers and difficulties for businesses as the top political task; ensuring stability, consistency, clarity, transparency, improving the open investment environment, supporting businesses with a focus on key areas.
In the immediate future, with the aim of further promoting employment and other factors, businesses need to urgently remove legal difficulties, unblock resources, and investment procedures, and implement public investment projects. In addition, a number of other measures have also been introduced to support businesses at the present time, such as continuing to improve the investment environment, simplifying investment and business procedures; supporting labor restructuring and improving the quality of human resources.
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