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Government encourages startup innovation: Deputy PM

by VOV/VNA11 January 2020 Last updated at 12:00 PM

At the event (Photo: VNA)
At the event (Photo: VNA)

The Government will develop an innovative and business-centred ecosystem, Deputy Prime Minister Trinh Dinh Dung said at the Vietnam Business Forum 2019 in Hanoi on January 10.

The primary goal of the Government is to improve the quality of growth and ensuring macro-economic stability, especially monetary and financial policies, Deputy PM Dung said. Businesses play an important role in helping the Government realise this target, Therefore, the Government will always accompany the business community, the Deputy PM emphasised. In the coming time, the Government will improve the institutional system and not use administrative tools to interfere with enterprises’ innovation activities, he said.

Prime Minister Nguyen Xuan Phuc will set up a special working group on promoting reform and improving business environment with the aim of reducing 20 percent of unnecessary administrative documents and at least 20 percent of administrative costs each year in accordance with law on business activities.

Dung added that the Government will prioritise investment in developing infrastructure to create smart connectivity as well as improve businesses’ competitiveness.

Particularly, the Government encourages strong investment in education and science-technology, improvement of human resources quality, and support for the business community to promote innovation.

Specific plans and programmes will be carried out to develop businesses in the three sectors: agriculture, industry and service, Dung added. The annual Vietnam Business Forum 2019 opened in Hanoi on January 10 under the theme “Roles and responsibilities of FDI community and sustainable development.”

Co-organised by the Ministry of Planning and Investment in coordination with the World Bank and the International Financial Corporation, the event is an on-going policy dialogue between the Government and business community aiming at a favourable business environment and sustainable economic development in Vietnam.

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