Businesses urged to modernise

The National Role Model Congress for the business sector took place on Thursday. Addressing the event, chairman of the Chamber of Commerce and Industry Vietnam Vũ Tiến Lộc highlighted the need for local enterprises to modernise themselves in a context of an increasingly competitive environment. Enterprises should also beware of declining government and prepare to be more autonomous. He also stressed that the ratio of people to businesses in Vietnam is now 200:1 while in many developed economies, there is a business per 15 to 20 citizens.