Hanoi (VNA) – The Vietnam Business Forum(VBF) 2018 will focus on measures to practically and effectively support enterprisestowards promoting economic development in a rapid and sustainable manner inconnection with environmental protection, according to Vu Tien Loc, co-chair ofthe forum.

Loc, who is Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), informedthe media of this news ahead of the event at a press conference in Hanoi onDecember 2.

VBF serves as a dialogue mechanism between the Government ofVietnam and the national and international business communities to improvebusiness conditions necessary to foster the development of private enterprises,facilitate investment environment, and contribute to Vietnam’s sustainableeconomic growth.

The forum will discuss and collect opinions of businesscommunities, review feedback from relevant agencies, as well as presentforecasts for the economy and enterprise operations in 2019.

According to Loc, Vietnam’s economy has recorded positive results, especiallyin terms of exports, foreign investment attraction, and business development.However, it is also concerned that enterprises need to be aware of preparingfor further integration into the international economy.

Vietnam's accession to the Comprehensive and ProgressiveAgreement for Trans Pacific Partnership (CPTPP) and the Vietnam-EUFree Trade Agreement not only brings opportunities and favoruable conditionsfor the local business community but also poses many challenges and pressurefrom market expansion and compliance with integration commitments.

The VCCI recommends that the Government step up reform, abolish unreasonablebusiness conditions, and accelerate the restructuring of state-ownedenterprises and encourage investment in the form of public-private cooperation,Loc said.

Vietnam needs to prepare well to position itself in the global value chain inconnection with a number of urgent requirements, such as improving the qualityof human resources, investing for technology, and reforming economicinstitutions.

Vice Chairman of the European Chamber of Commerce in Vietnam(EurcoCham) Tomaso Andreatta, who is also co-chair of the VBF, said that globaltrade is changing rapidly, requiring businesses to change to adapt to and promotedevelopment.

Vietnam should aim for a rapid yet sustainable growth inconnection with environmental protection with lower costs, he said.

Vietnamese businesses need to overcome restrictions toincrease competitiveness, promote creativity, and catch up on business trends inorder to survive and contribute more to the economy, he said. –VNA