Government issuing a resolution on enterprise support and development to 2020

By the year 2020, it is expected that Vietnamese enterprises shall be able to compete with global companies and reach a sustainable development. It is projected that there will be at least 1 million existing enterprises including large-scale ones with substantial resources. In order to create favorable economic environment for the development of enterprises, the following rules shall be followed: The State shall protect people’s legal ownership of property and the freedom in business;  Every enterprise has the right to freely participate in business lines that are not prohibited by laws; The State shall ensure the stability, consistency and the predictability of relevant policies, macroeconomic stabilization and improve the business environment to meet the criteria of convenience, safety and friendliness; The State shall introduce specific policies to assist small and medium enterprises, start-ups, innovative and potential enterprises, etc.

The resolution also sets out the responsibilities and measures for enterprise development, such as: Administrative reform and business facilitation; Requesting the Chairman of Provincial People’s Committees to hold public dialogues with enterprises and reporters at least twice per year to reflect and come to conclusion on enterprises’s difficulties and obstacles; Publishing a hotline and launch online inquiry windows on the province’s website to respond to enterprises’ complaints; Creating favorable business environment for startups and innovative enterprises; Ensuring the freedom in business and the equality right to access resources and business opportunities; Reduction of business costs; Protection of enterprises’ lawful rights and interests.

The Deputy Prime Minister – Head of Steering Committee of Enterprise Innovation and Development shall make general direction and other Deputy Prime Ministers shall direct the Ministries, Ministerial-level agencies, Government agencies and Provincial People’s Committees to execute this Resolution.