Vietnam Business Forum

Event Details

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This week’s Vietnam Business Forum (VBF) focused on the need for state-owned enterprise (SOE) reforms, financial sector reforms, administrative procedures reforms, anti-corruption activities, and the development of the workforce. AmCham Chair Gaurav Gupta spoke about our perception of the business environment in Vietnam. Gaurav stressed the point that despite business optimism and growth, we too-often see initial interest from potential foreign investors that doesn’t materialize due to continued challenges dealing with corruption, human resource constraints, and an over-complicated, restricted, and unclear licensing and regulatory environment. He told the government that AmCham members wish to see initiatives that provide further encouragement of private enterprise, and that enable and facilitate rather than restrict business opportunities. We believe that the business climate can best be helped by actions that increase productivity and reduce the costs and risks of doing business in Vietnam. Gaurav urged the government to focus efforts on improving the ease of doing business here and addressing areas where inconsistencies, inefficiencies, and unfair practices persist. He added that it is important to work in partnership with AmCham to help resolve challenges and prevent problems because our members experience too many unintended consequences from well-meaning legislation that hinders business activities and that inconsistent regulatory interpretation, irregular enforcement, and unclear laws remain significant challenges for many AmCham members. Gaurav reiterated that the uncertainty caused by corruption continues to be a top business challenge faced by our members, and that delays in implementing regulations on important Laws and Decrees, delays in moving forward key infrastructure projects, and delays in streamlining administrative procedures continue to frustrate many companies. The VBF is run by a consortium of business organizations led by AmCham, EuroCham, KorCham and VCCI. The VBF is co-chaired by AmCham governor Virginia Foote and provides an opportunity for a structured dialogue between the government, local and foreign businesses, and the donor community to improve the business environment here. Click HERE to read AmCham’s VBF statement in English-language and click HERE to read the statement in Vietnamese-language.

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