Kim Han-yong (chair of the Korea Chamber of Commerce Vietnam) spoke Monday at the 2022 Vietnam Business Forum in Hanoi. The forum was attended by South Korean, European, and American business executives.
He said that the Regional Comprehensive Economic Partnership (RCEP) was set to make the country the Southeast Asia’s trade center.
However, the implementation of RCEP pledges related to trade origins certificates and taxes still needs to be streamlined. This is necessary so that businesses can benefit from the trade pact.
Alain Cany (chair of the European Chamber of Commerce in Vietnam) said that the country’s rapid reopening has been helped by the speed of vaccination. This has increased the confidence of European businesses in Vietnam, as shown in the Business Climate Indexs increase from 42 to 61 in January.
However, the government should use technology in administration to streamline procedures, lower costs, and stimulate innovation, he stated.
He said that Vietnamese companies should also take advantage of digital services for international trade.
John Rockhold (chairman of AmCham Vietnam) expressed confidence in American businesses in Vietnam.
The pandemic highlighted the importance transportation and energy infrastructures in maintaining growth. Vietnam has focused investment in this area by building roads, ports, and bridges, he stated.
Rockhold called on the government to make immigration procedures more flexible and streamline customs.
Prime Minister Pham Minh Chinh stated that the VND350 trillion economic stimulus package, which is more than 4 percent of Vietnam’s GDP, would be used to combat the pandemic, create jobs, and invest in key projects.
He stated that the agenda includes improving the business environment as well as administrative procedures.
Vietnam Business Forum is an annual summit that brings together government officials and businesses from both domestic and abroad. It was hosted this year by the Ministry of Planning and Investment and World Bank.