While forum participants welcome the government's recent efforts in stabilizing the macro economy, they also stressed the need to look beyond short-term solutions to shift policies from administrative measures to market driven ones that promote market efficiency. The government should use the current economic environment as a stimulus for tough structural reform that will make the economy more competitive, market-oriented and efficient. The government's strong commitment to controlling inflation and reforming state-owned enterprises will help restore investor and business confidence and continue the necessary flow of foreign investment. Business believe that Vietnam's ability to remain competitive and maintain sustainable economic growth over the long-term depends on the country's ability to maximize capital outlays, accelerate meaningful economic and regulatory reforms, and demonstrate a clear vision for the future. Success on these fronts will require significant structural change. … [Read more...] about Government and business community formulate a practical strategy for Vietnam to become a leading Asian economy
Business strategies for growth
Vietnam Business Council for Sustainable Development Needed for Economic Growth
With the strong progress of the Vietnam business community, which plays an important role in Vietnam's socio-economic development strategy, and less attention of enterprises in environmental protection in recent years, businesses are considered key suppliers of solutions and contributions to the country's sustainable development (SD). To catch up with this trend, an initiative to establish the Vietnam Business Council for Sustainable Development (VBCSD) is being started by the International Union for Conservation of Nature (IUCN), Vietnam Chamber of Commerce and Industry (VCCI) and SNV Netherlands Development Organization. The World Business Council for Sustainable Development (WBCSD) has branches in over 60 countries and would like to expand that network to Vietnam. The initiative aims to set up and maintain VBCSD with a large network of members and partners, to expand the inclusive business (IB) based on engaging low-income communities to the core business of enterprises, and to … [Read more...] about Vietnam Business Council for Sustainable Development Needed for Economic Growth
Business Council for Sustainable Development: Business Orientation and Business leadership
Deputy Prime Minister Nguyen Thien Nhan has recently approved the project to establish Business Council for Sustainable Development sponsored by Vietnam Chamber of Commerce and Industry (VCCI) to assist businesses in implementing orientation and strategy of sustainable development in Vietnam from now to 2020. On this occasion, Vietnam Business Forum's reporter Nam Pham discussed the issue with Dr. Vu Tien Loc, VCCI President. Please tell us the reason to establish Business Council for Sustainable Development? The concept of "sustainable development" started in 1970s. So far, 191 countries in the world have developed sustainable development programmes (also called Agenda 21) nationwide and over 6,500 Agenda 21 of sector and local scales. On August 17, 2004, Vietnam government has approved Strategic Orientation for Sustainable Development in Vietnam. The orientation is a frame strategy including main orientation serving as legal foundation for related ministries, sectors, localities, … [Read more...] about Business Council for Sustainable Development: Business Orientation and Business leadership
Sustainable Development Oriented Business: Investment for the Future
Mr Nguyen Quang Vinh, Director of Business Office for Sustainable Development of the Vietnam Chamber of Commerce and Industry (VCCI) and Secretary General of the Vietnam Business Council for Sustainable Development (VBCSD), said that sustainable development is to meet current needs and inflict no damage on the ability to meet the demand of future generations. Therefore, most countries in the world have placed sustainable development agendas in their economic, social and environmental development plans. Do you think it is a descent if economic growth is achieved only at the expense of unimproved environment and society? That is certainly correct. Nowadays, green growth and green economy are frequently mentioned and the world is in a green race. For example, the European Union (EU) has up to 45 percent of solutions to green technology development; Japan has many green technical solutions; China and India are also pointing toward green technology. The green race has started. This is a … [Read more...] about Sustainable Development Oriented Business: Investment for the Future
Business recovery seen as major driver for growth
Business recovery seen as major driver for growth Quoc Hung and Binh Nguyen By Quoc Hung and Binh Nguyen - The Saigon Times Daily HCMC – The Minister of Planning and Investment said on Wednesday the Government would do everything to help companies recover their operations and attract more foreign direct investment (FDI), as these are regarded as a curable medicine to the country’s economic growth restoration in 2013 and the years to come. Bui Quang Vinh underscored the key message at the Vietnam-Singapore Business Forum, which began on Wednesday and attracted more than 300 representatives of foreign and domestic enterprises. This three-day event comprises of discussions and field trips surrounding investment policies and opportunities for the two nations, economic and trade cooperation, real estate, healthcare services, tourism, manufacturing and logistics. “The Government and the Ministry of Planning and Investment (MPI) will do their best to support investment … [Read more...] about Business recovery seen as major driver for growth