Bùi Đức Thụ.  —Photo laodong.vn

PhD Doctor Bùi Đức Thụ, a member of the National Assembly’s Committee for Financial and Budgetary Affairs (the 13th legislature), talks to Lao động (Labour) newspaper on how to facilitate the development of Vietnamese enterprises.

What are the roles of Vietnamese enterprises in the course of international integration?

Vietnamese enterprises hold a very important role in the country’s course of socio-economic development. They have contributed the lion’s share to the State budget, particularly in the export sector.

Vietnamese State enterprises have also played a crucial role in the course of national socio-economic development. However, most of them are small and medium enterprises. This has presented them with many difficulties and challenges.

What are those difficulties and challenges Vietnamese enterprises face?

There are three main challenges that Vietnamese enterprises are facing.

Firstly, the majority of Vietnamese enterprises are small and medium sized. Their working capital mainly comes from credit. This is the biggest stumbling block in their day to day operations.

Secondly, the limited working capital has become another major stumbling block for the enterprises in applying advanced technology. As a result it has weakened their competitiveness in the course of international integration.

And finally, the Vietnamese labour market has not fully developed so as a result, Việt Nam has a larger shortage of skilled workers. This factor has become a difficulty for enterprises to develop.

Many enterprises have complained about the cumbersome administrative procedures and business conditions they have to confront. How do you respond to their complaints?

As of now, quite a lot of administrative procedures have been slashed. Yet, many things must still be done in the near future to facilitate conditions for the enterprises to develop.

It is indisputable that good development is a driving force for the national economy. To achieve this, we have to do quite many things together, particularly in the field of institution – enacting new laws and then putting them into practice.

We cannot negate a fact that contradictions in our current legal system have become a stumbling block in putting the laws into practice, particularly the enterprises’ performance.

What should we do to facilitate conditions for enterprises to develop?

First of all, the Government and the National Assembly should review all the current legal documents relating to the enterprises’ operation to make ensure they are in a synchronous legal system, particularly the Financial Law, Land Law, Bidding Law and others.

Regarding the labour force, we should focus on addressing the need of the national economy, particularly training skilled workers.

In the area of legality, we need to accelerate administrative reform to facilitate conditions for enterprises to achieve better performance.

It is projected that from next year, regional and world economies will face many difficulties and challenges. To ensure sound socio-economic development for the nation of some 100 million people, Việt Nam should focus on stabilising its macro-economy while improving conditions for enterprises to develop.

To achieve these objectives, sustainable development should be the most important task for Việt Nam in the future while putting inflation under the control and stabilising the macro economy. These are solid foundations for Vietnamese and foreign enterprises to surge ahead. — VNS