The two-day Vietnam Business Forum is held in the lead-up to the Mid-Term Consultative Group Meeting for Vietnam scheduled to take place in the central coastal province of Khanh Hoa on June 6-10.

Speaking at the forum, Deputy Prime Minister Pham Gia Khiem said the Vietnamese Government continues to embark on international economic integration by finalising legal and policy systems to meet the country’s requirements for development. He said the forum took place at a time when Vietnam has concluded bilateral WTO negotiations with 28 partners requiring negotiations, including the US, and is finalising procedures to join the world’s largest trade club very soon.

“The achievements showed the Vietnamese Government’s determination to build an equal business environment for local and foreign business circles,” said Mr Khiem.

Delegates will discuss issues relating to Vietnam’s investment environment, the capital market and banking services, which will top the agenda of the mid-term CG meeting in Nha Trang. They will also touch upon infrastructure development and opportunities for the private sector to be involved in activity, particularly in the post and telecommunications and electricity industries.

Other issues tabled at the forum included tax, production and distribution of commodities, the opening up of markets and several laws such as the Law on Technology Transfers, the Law on Securities, and the law on Real Estate Trading, which will be adopted at the current National Assembly session.  

Local and foreign delegates gave opinions on the issues and voiced strong support for Vietnam’s bid to join the WTO.

Preben Hjortlund, vice chairman of the European Chamber of Commerce (Eurocham) in Vietnam said the country should enhance the fight against corruption. He said many local and foreign businesses consider corruption a tough issue to deal with. However, he said, foreign businesses support the Government’s measures to fight corruption and hoped that these measures will be implemented effectively in sectors and at the grassroots level. In addition to signing the UN Convention on Anti-Corruption, Vietnam will receive further support from other countries on the front, he concluded.

Dang Duc Dzung, vice chairman of the Vietnam Entrepreneurs Association, proposed that Vietnam’s WTO negotiation process be made public for enterprises.

“In recent times, the Vietnamese Government has made every effort to conduct negotiations with WTO partners, including the US, to success,” said Mr Dzung. “However, many private businesses realised that they know almost nothing about the significance of joining the WTO. The private economic sector could be more vulnerable as it will have to face risks relating to WTO rules, including those concerning competition and intellectual property.”

He proposed that the Government make public the detailed roadmap on WTO accession and possible changes in the negotiation process for private enterprises to enable them understand and prepare their activities to be in line with WTO requirements.

Thomas O’Dore, chairman of the American Chamber of Commerce in Hanoi, expressed the American business community’s support for Vietnam’s entry to the WTO. He said the recently signed agreement between the US and Vietnam will pave the way for the latter to accede to the WTO.

According to him, in the coming time Vietnam should accelerate banking reforms and investment in infrastructure facilities with the participation of the private sector.