03:29 (GMT +7) - Monday 24/10/2016


VCCI to link enterprises with government

Released at: 16:41, 04/05/2016

VCCI to link enterprises with government

VCCI assigned task of compiling matters of importance from enterprises for submission to government.

by Hung Nguyen

The Vietnam Chamber of Commerce and Industry (VCCI) will be responsible for collecting and summarizing information on business performance, difficulties and feedback on policies from enterprises, which it will then forward to the government for discussion at its regular meetings.

VCCI was assigned the responsibility during a meeting between the Prime Minister and enterprises held on April 29.

It was agreed at the meeting that a target of 1 million enterprises by 2020 would be set, according VCCI Chairman Vu Tien Loc.

By 2020 the private sector will contribute about 48-49 per cent of GDP while private investment will account for 49 per cent of total national investment. Total Factor Productivity (TFP) by that time will contribute 30-35 per cent to economic growth. Every year some 30-35 per cent of Vietnamese enterprises will adopt innovation in their business activities.

At the meeting with the PM Mr. Loc flagged improving the efficiency of State-owned enterprises (SOEs) as being an important issue, with ministries, local departments or authorities adopting a hands-off approach, which would help create a fairer competitive environment among SOEs and private enterprises.  

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