Panorama of conference to declare the report: Private businesses - driving force behind economic reforms in Vietnam. (Photo: dangcongsan.vn)

(VOVworld) – Private businesses are the driving force behind economic reforms at the provincial level in Vietnam. According to a report jointly released by the Vietnam Chamber of Commerce and Industry and the UK Institute of Development Studies in Hanoi yesterday, a dynamic government always recognises the role businesses play, while the private sector always looks for support from local authorities. The report says domestic and foreign-invested enterprises form the core of economic reforms, but smaller enterprises have less influence. Economist Lê Đăng Doanh says ‘In order to attract more investment in the future, our provinces should speed up institutional reforms and create an open and transparent business environment that provides optional conditions for investors to operate. Provinces should be more aware of changes in the business environment and current conditions affecting investment attraction’.

The report was based on an analysis of 120 interviews with businesses from every economic sector in Bac Ninh, Hung Yen, Dong Thap, and Ca Mau province and Hanoi, as well as a quantitative analysis of 63 cities and provinces nationwide.