This year should be considered the Year of Enterprises, during which actions must be taken to further improve the business environment for the sake of enterprises, said Minister of Planning and Investment Bui Quang Vinh.
Minister Vinh made the statement in an interview with Tuoi Tre (Youth) newspaper on the occasion of the Tet (Lunar New Year) holiday that ended on Monday.
He stressed that only when the business climate is improved can authorities gain confidence in enterprises and thereby encourage them to invest their money into business.
The minister expressed his hope that the revised Enterprise Law and Investment Law, which were approved by the National Assembly late last year, will create new momentum to boost investment in Vietnam by both domestic and international investors.
Besides the two amended laws, the country's economic institutions should also be further renovated to better serve the business environment in Vietnam, he added.
"I think it is necessary to suggest the year 2015 be set as the Year of Enterprises so that we can do more for the sake of enterprises. If enterprises cannot develop, then the national economy will not be able to develop either," the minister said.
Support for private businesses
Regarding foreign direct investment (FDI) in Vietnam, Minister Vinh said FDI businesses accounted for 68 percent of the country's total export turnover in 2014.
"From the view of attraction of foreign investment, this figure reflects success in the field, but considering the national economy's health, it causes concern," the minister said.
Although it is possible that Samsung's products exported from Vietnam have "Made in Vietnam" labels, everybody thinks they are products of South Korea, he explained.
Therefore, domestic businesses should improve and become stronger so that they can apply foreign technologies to create products under Vietnamese brands, he said.
"In the long run, we should give more support to local businesses, especially those in the private sector. And private businesses must become the most important driving force of the national economy," the minister said.
As regards support for the private economic sector, Vinh said his ministry will draft a bill on small- and medium-sized enterprises later this year to offer assistance to the development of private businesses in Vietnam.
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