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NA wants SME law issued soon

The Government should create a private-business enabling environment by swiftly presenting a draft law on support for small and medium enterprises (SMEs) and establishing a national business development council.

A deputy speaks at a review of economic development in 2015 and 2011-2015 at the National Assembly last week - PHOTO: TTXVN


Pham Trong Nhan, a National Assembly (NA) deputy of Binh Duong Province, made the proposal last Friday at the ongoing sitting of the NA. He said he is concerned about the corporate sector’s ability to adapt to the country’s fast international economic integration.

According to Nhan, the local private sector has contributed 48% of GDP while the respective shares of foreign direct investment (FDI) and state sectors are 20% and 32%.

“With a competitive edge in terms of capital, technology, markets and governance, the FDI sector will be definitely able to make the most of opportunities from the nation’s global integration and leave other sectors far behind,” Nhan said.

The 12th National Party Congress resolution acknowledges the role of the private sector and regards it as an important driving force for the country’s development. A Government report says the Government will create favorable conditions for Vietnamese enterprises, particularly those in the private sector, to boost their competitiveness, according to Nhan.

Regarding the proposed setting up of the national business development council headed by a Deputy PM and represented by the Vietnam Chamber of Commerce and Industry and industry associations, Nhan said the council would be in charge of handling issues relating to enterprises and the business environment.

“We should create a favorable, healthy and safe business environment for enterprises, particularly those in the private sector. This will help achieve the ‘rich people’ and ‘strong country’ goal,” Nhan said.

Van Ly

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