VBF 2020: business community highlights key pain points for sustained growth

Enterprises had an opportunity to seek support from the government at VBF 2020

The Vietnam Chamber of Commerce and Industry (VCCI) made the suggestion at the annual Vietnam Business Forum (VBF) 2020 in order to support businesses to weather the aftermath of COVID-19 and continue to improve the business environment.

The even saw many proposals to reform policies, three of which were targeting human resources and infrastructure, as well as enhancing the products’ competitiveness.

Notably, the business community suggested that the governmentimplement activities, including the development and implementation of specialised training programmes for technical workers in supporting industries that are currently essential.

“The decision of the prime minister to make October 4 Vietnam Labour Skills Day is a very encouraging signal, showing strong support for this issue. However, we need to have industry-specific skills training programmes that are relevant to the supporting industries as part of the key value chains, and part of a specific strategy to attract shifting foreign direct investment (FDI),” Vu Tien Loc, chairman of VCCI said.

Besides, they require evidence-based and efficient research to forecast the job market in the next 5-10 years. The research should identify which industries will develop and require what work in the coming time. This will be crucial for the formulation of human resources strategies of enterprises and policymakers alike.

In terms of infrastructure, VCCI and the business community would propose the government to focus on the effective implementation of the Law on Public-Private Partnership (PPP) Investment and the Law on Public Investment with priority being given to the transport infrastructure sector and unfinished projects.

In addition, they expect the government to immediately conduct a study identifying necessary traffic routes (road, waterway, railway) connecting key production areas (agriculture, industry) to international border gates, thereby proposing an investment programme to develop and upgrade these infrastructure systems.

The government is expected to invest in or call for investment in the development and upgrading of the required logistics systems at key international border gates, especially for key border gates for specific goods (perishable goods or goods subject to special storage).

“In terms of enhancing the products’ competitiveness, although this is a task specific to each business, the business community would like to see the government establish a market and business matching portal, especially with the EU market and markets with which Vietnam has established FTAs, and implement trade promotion programmes for Vietnamese goods aboard,” Loc said.

Along with that, to facilitate business recovery and development in the coming time, the business community proposed the government to further improve the business environment and national competitiveness, with a focus on reforming administrative procedures, business conditions, and cutting costs for businesses.