PM gives green light to establishment of private economic group

Prime Minister Nguyen Tan Dung has agreed in principle to the establishment of a private economic group proposed by the Vietnam Young Entrepreneurs Organization. 

The PM has asked the Planning and Investment Ministry to cooperate with relevant ministries and agencies, and the organization to study and propose a model of private economic group, including a form of assistance by the Government.
 
PM Dung has affirmed that the Government will create favorable conditions in terms of business environment, law and administrative procedures so that more and more such businesses will be established, develop stability, and build competitive brand names on the global market.
 
With regard to the organization’s other proposals, he has ordered the Finance Ministry to work with relative ministries and agencies to draft a Law on Export- Credit Insurance.
 
The National Assembly Standing Committee has ordered the People’s Supreme Court to prepare a Bill on Amendment and supplement some articles in the Law on Bankruptcy.
 
PM Dung has also asked the Industry and Trade Ministry to cooperate with relevant ministries and agencies, and the organization to have policies to assist businesses to build global-level brand names and promote Vietnamese enterprises on the international market. 
 
The organization, founded in 1993, now boasts a network of about 8,000 members in 56 provinces and cities nationwide.

By L.Nguyen – Translated by Hoang Thi

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