Businesses expect more Government support

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Nhân dân English - 30 month(s) ago 10 readings

Businesses expect more Government support

Nhan Dan – Representatives of the business community attending the Vietnam Business Forum on May 29 called on the Government to introduce more appropriate policies to help them overcome their current economic woes.

Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc stated that great challenges are facing enterprises such as high borrowing costs, shrinking markets, large inventories and other macroeconomic risks.

On May 10, the Government issued a resolution on a number of measures to support troubled enterprises and boost the local market.

However the business community expected the Government to expand the scope of tax reductions in order to deal with inventories and stimulate consumption.

Preben Hjortlund, Chairman of Eurocham Vietnam, said that he was concerned about Vietnam’s business climate and wanted the country to enhance transparency in order to attract more foreign investment.

Speaking at the forum, Deputy Prime Minister Vu Van Ninh said that Vietnam is facing stiff economic challenges and the Government’s top priorities in 2012 are still curbing inflation and stabilising the macroeconomy.

He added that the Government is focusing on boosting production and consumption without creating further macroeconomic instability.

In the long term, the Government will continue to push economic restructuring, particularly for public investment and State-owned enterprises, the Deputy PM said.

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