Vietnam - Increasing private sector’s role in Vietnam Business Forum

The International Finance Corporation (IFC) has transferred the role of the Vietnam Business Forum secretariat to the private sector as of February 8  2012.

Over the past ten years, IFC has supported periodical dialogue programmes with the Government to improve the business environment in Vietnam.

Established in 1998, the forum has contributed to ironing out snags and improving transparency in business operation and investment.

14 business associations, local and international chambers of commerce and industry have agreed to promote the forum’s activities.

Christopher Twomey, President of the American Chamber of Commerce and Industry in Vietnam said that the new move of the forum secretariat reflects an inevitable step of development in the chamber’s role as a representative for the business community to co-ordinate with the government to remove obstacles to business expansion and job creation in the private sector.

Minister of Planning and Planning Bui Quang Vinh emphasized that he highlighted the active participation of the business community at the forum, especially the role of the forum secretariat. He pledged to continue to support the forum in operating effectively to improve Vietnam’s business environment.

Together with the governments of Netherlands, Ireland, Holland, New Zealand and Switzerland, IFC said that it will continue to support the new Secretariat to fulfill its co-ordination role in the forum’s activities. In addition, the World Bank and IFC will resume its role as co-chair of the forum.

Simon Andrews, IFC Regional Director for Vietnam, Cambodia, Laos and Thailand highlighted the determination of the private sector and the government to improve the business environment and attract investment.

He added that with dialogue mechanism firmly put in place, the forum should promote co-ordinated efforts by the business community to ensure sustainability in the long-term.

The forum is also a model that has been applied to similar dialogue mechanism between the Government and the IFC-supported private sectors in Cambodia and Laos.

The new secretariat includes the American Chamber of Commerce and Industry in Vietnam, the European Chamber of Industry and Trade, the Vietnam Chamber of Industry and Trade, the Australian Chamber of Industry and Trade, the North European Chamber of Industry and Trade in HCM City, the Canada Chamber of Trade in Vietnam, the Korea Trade Investment Promotion Agency (KOTRA) in Vietnam, the Vietnam Footwear Association, Hanoi Young Entrepreneurs Association, the UK Business Association in Vietnam, the Hong Kong Business Association, the Japan Business Association in Vietnam, the Japan Business Association in HCM City and the Singapore Business Association.

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