Annual report on Vietnamese businesses unveiled
(VOV) - The Vietnam Chamber of Commerce and Industry (VCCI) released 2012 edition of its annual report on Vietnamese businesses in Hanoi on April 18.
The report reviewed developments in economic growth, the import-export balance, the state of foreign investment, and the implications of world market events.
Addressing the conference, VCCI President Vu Tien Loc said the annual report includes an overview of Vietnamese business development from 2002 until 2011. Transitions, business capacity, and market accessibility are all discussed.
The report also made recommendations to improve Vietnam’s business environment and sharpen domestic businesses’ competitiveness.
World Bank Chief Economist Deepak Mishra said his institution has coordinated with the VCCI on sharing the visions of a favourable Vietnamese business environment and offered advice on appropriate policy responses to World Trade Organisation (WTO) membership.
Businesses cited in the report urged the government to accelerate the progress of administrative reforms, improve the investment environment, ensure transparency, monitor economic planning, and keep the market under control.
Businesses want local authorities to increase management capacity and extend more support.
The report states that as of April 1, 2012, Vietnam boasted more than 312,000 valid businesses. Vietnamese businesses follow a general trend of reducing labour force scale while increasing quantities of capital.