VBF underscores a range of development challenges

May 27, 2011 | 17:02

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The Vietnam Business Forum (VBF) was held today prior to the Consultative Group (CG) meeting to be held in the central province of Ha Tinh on June 9.

The event was held by the World Bank Group, International Finance Corporation (IFC) in coordination with the Vietnamese Ministry of Planning and Investment (MPI).

The VBF provided an opportunity for a structured dialogue between the government, local and foreign businesses, and the donor community to improve the business environment in Vietnam.

It was the 28th VBF meeting and the discussions focused on banking and capital markets, infrastructure and education, manufacturing and distribution, mining and tourism.

MPI Minister Vo Hong Phuc said in the first five months of this year, Vietnam faced many challenges with unstable macro-economic conditions, a consumer price index of more than 12 per cent from last year, an increasing trade deficit and banking system.

"However, after three months of implementation of Resolution 11 to control inflation and stabilise the macro-economy, some first positive results have been seen as well as some matters on ensuring socio-economic development in 2011 have been also given," said Phuc.

"Therefore, in the up-coming CG meeting, the government expects businesses to discuss on economic and fiscal policies to ensure social security and stabilise the economy steadily," he added.

By Nguyen Trang

vir.com.vn

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