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INVESTMENTOPPORTUNITIES

PM urges local firms to reach global standards

Updated at Thursday, 13 Oct 2016, 15:37
The Hanoitimes - The Government is aggressively restructuring the national economy and innovation growth model and the local firms needs to be active in grasping opportunities to make breakthrough amid rapid international integration, Prime Minister Nguyen Xuan Phuc affirmed at a ceremony held in Hanoi on the occasion of Vietnam Entrepreneurs’ Day (October 13).
Prime Minister (PM) Nguyen Xuan Phuc on October 11 attended the launching ceremony of a patriotic emulation movement themed, “Vietnamese business towards integration and development“ held in Hanoi on the occasion of Vietnam Entrepreneurs’ Day (October 13). 
 
Prime Minister Nguyen Xuan Phuc speaks at the ceremony.
Prime Minister Nguyen Xuan Phuc speaks at the ceremony.
Speaking at the ceremony, the PM affirmed the Government’s determination in improving the business environment. He also urged local businesses to be active in grasping opportunities to make breakthrough amid rapid international integration. 
At present, Vietnam has nearly 600,000 operating businesses, recorded more than 91,000 newly-established firms during nine months of this year. The figures clearly reflect the Government's policy of improving business and investment environment, encouraging of innovation and business development has come to life and created trust for business community, the PM noted.
"We must strive to reach by 2020 over one million businesses and not only rising in quantity, but their operations must be improved drastically," he said.
PM Phuc said that entering a new phase, Vietnam's economy requires a fundamental shift in terms of quality, efficiency and competitiveness for successful integration and sustainable development.
At the conference, the Government leader awarded Thanh Giong Cup, a symbol of the strength and aspirations of the Vietnamese business community, to 100 prominent entrepreneurs of 2016. 

 
The PM  presented Thanh Giong Cup, a symbol of the strength and aspirations of the Vietnamese business community, to the prominent entrepreneurs of 2016.
The PM presented Thanh Giong Cup, a symbol of the strength and aspirations of the Vietnamese business community, to the prominent entrepreneurs of 2016.
Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc said that 2016 would be the first year to have a historic 100,000 newly-established firms.
VCCI Chairman said at the Vietnam Businesspeople Forum 2016 held on October 11 that the global technology revolution coupled with the Government’s hastened efforts in improving the business climate are enabling Vietnamese firms to reach global standards. 
Loc said the role of businesspersons in the socio-economic development had a new dimension, which was different from traditional concepts.
 “Advantages are no longer in the hands of the traditionally strong, but with those who own innovation, technology and digital resources”, he said. 
The technology revolution is  a chance for Vietnamese businessmen to make breakthroughs, Loc said, stressing that reaching global standards is critical to keep up with the world’s development trends and build a community of one million efficient businesses by 2020. 
In the next phase, the picture of the business community will be painted by strong entrepreneurship and innovation, as traditional disadvantages such as cheap labour and resources would be gradually getting exhausted. 
VCCI Chairman Loc said that the government is striving to improve the country’s competitiveness within ASEAN and other economies around the globe.  
 “Vietnamese entrepreneurs need an ecosystem in which their innovations are promoted,” Loc said, adding that this would require the government making efforts to hasten improvement of the business climate. 
The Government of Vietnam has hastened efforts to overhaul the business environment and building an upright government. 
“Opportunities are there for businesses, but greater efforts are needed to build a development-friendly government and promote a business community with high competitiveness.”, “Knowledge will be the core, innovation will be the engine to drive business,” VCCI Chairman said.
Addressing the forum, Ray Sanket, CEO of Coca-Cola Vietnam, said the secret for the success of the global beverage company, serving its products to billions of consumers in more than 200 countries every day, was innovation. 
Do Thi Kim Lien, Chairwoman of the Board of Directors of Song Duong Company emphasized that the businesses must boost their level of knowledge in this area to become more competitive globally.
Thu Minh
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