(VOVworld) - The 2014 year-end Vietnam Business Forum opened in Hanoi on Tuesday.

Entitled “Entrepreneurship for new free trade agreements”, the forum is a dialogue between the government agencies and the business community in Vietnam to build a more favorable business environment, attract investment, and stimulate economic growth.

Foreign companies and investors attend the 2014 year-end Vietnam Business Forum. (Photo: VGP)

Vu Tien Loc, President of Vietnam Chamber of Commerce and Industry (VCCI), said that despite pending difficulties, businesses are regaining their trust, especially following a series of government’s measures to improve business environment. He said: “We have at least 5 institutional pillars to improve Vietnam’s business environment. They are legal and administrative reform, state-owned enterprise restructuring, public service reform by changing suppliers from state agencies to social organizations, and tightening legal institutions to ensure a favorable and safe business environment. A number of proposals have been made in previous meetings and they will be touched upon again in this forum.”

The year-end forum will report on progress of issues raised at the mid-term meeting and work out solutions for businesses to prepare for the Vietnam-EU Free Trade Agreement, the Trans-Pacific Strategic Economic Partnership Agreement, and the Regional Comprehensive Economic Partnership. Participants will focus on public debt, non-performing loans, the development of the private sector, employment, state-owned enterprises equitization, administrative reform, and challenges following future trade agreements.