According to Deputy Foreign Minister Bui Thanh Son, the Vietnamese Government always defines the improvement of business environment and competitiveness as a key task in the country’s socio-economic development strategy.

Along with renovating the growth model and restructuring the economy, Vietnam has rolled out strong measures to better its business climate and competitiveness, he added. 

Thanks to its reform efforts, Vietnam has become a middle-income country with its dynamic economic development, making it an attractive investment destination in the region, he stated. 

WEF Managing Director Philipp Roesler said Vietnam’s largest advantage is a young workforce. Therefore, promoting the education and training development and equipping knowledge and skills in combination with market and business demands are the best ways to improve the competitiveness.

He also emphasised the need to better fiscal policy, invest more in infrastructure, connect rural areas and economic hubs, and develop information technology. 

Director of the Vietnam Chamber of Commerce and Industry Vu Tien Loc stated that competitiveness plays an important role in the current regional and international integration, especially when the country joins the ASEAN Community and signs free trade agreements with many countries and the Trans-Pacific Partnership (TPP) Agreement. 

Participants at the event also discussed factors affecting the competitiveness of enterprises and their contributions to the national competitiveness.