Page 10 - Layout 1

COVER STORY

GREAT

T
G
A
E
R
E X P E C T A T I O N S
EXPECTATIONS
Myriad opinions were presented at the recent Vietnam Economic Scenario Forum as the
business community hopes the economic recovery package will benefit nearly all.

KIEU HANG & TRA MY Report

he socio-economic recovery pro- the XV NA and President of the Vietnam enhancement of business competitiveness,
gram costing nearly VND350 tril- International Arbitration Center, said the improvements to local infrastructure, and
Tlion ($15.5 billion) is a major policy economic stimulus program will be of digital transformation support for busi-
measure from the Communist Party of major assistance to Vietnam’s economy nesses. And the fifth is the strong continued
Vietnam, the National Assembly (NA), in general and the country’s businesses push to implement free trade agreements
and the government, and businesses are in particular. (FTAs). “The program offers the ‘beacon
looking forward to it providing a “beacon of hope’ we need,” he added.
of hope” that will help them recover and FIVE POINTS Representatives of businesses attending
overcome the Covid-19 crisis. With the According to Dr. Loc, the recovery pro- the forum agreed with Dr. Loc and expressed
National Assembly (NA) having passed gram features five points. The first is fiscal a hope that the socio-economic development
a resolution on monetary and fiscal support, which will financially support recovery support program will help busi-
policy at its recent extra-ordinary session, the business community, and the second nesses rebound from the pandemic.
it is expected that the government will is the acceleration of institutional reform. May 10, one of the enterprises repre-
soon issue a specific and detailed pro- The third is regarding specific mechanisms, senting the labor-intensive garment indus-
gram of solutions. shortening procedures and creating favor- try and with nine factories located in
At the annual Vietnam Economic Sce- able conditions for individuals and busi- cities and provinces around Vietnam, has
nario Forum, Dr. Vu Tien Loc, Deputy at nesses to operate. The fourth is the experienced a host of difficulties from

8 | VIETNAM ECONOMIC TIMES | FEBRUARY 2022 www.en.vneconomy.vn