He told the 2013 Vietnam Business Forum in Hanoi that the reform process was slow going recently due to the impact of the global economic recession and domestic difficulties, but assured them the Vietnamese government will go ahead with its commitment.

Hai asked relevant ministries and agencies to to step up administrative reforms in tax, customs, business establishment and dissolution, capital access, land and natural resource use, and regulatory formalities.

A complete system should be established to receive citizen petitions and take action against any officials abusing their position or found harassing or harming their constituents, he said.

The Deputy PM briefed domestic and foreign delegates on Vietnam’s efforts to implement its socio-economic development strategy with a vision towards 2020, saying the country is fine-tuning government institutions and the legal system, improving the quality of human resources, restructuring the economy, and renovating growth models to better drive sustainable development.

Hai said Vietnam’s growth targets for 2014 and beyond require effective fiscal and monetary policy management to control inflation and the price of services, support production and trading, and maintain macroeconomic stability.

Minister of Planning and Investment Bui Quang Vinh told the forum’s opening ceremony it serves as both a bridge linking the Government and existing domestic and foreign business partners, and a promotional confirmation of Vietnam’s healthy business environment.

Thanks to recommendations from consultants, investors, and the broader business community, Vinh said, the Government and its agencies have adjusted important policies to better reflect international economic principles and the socialist-oriented market economy.

He affirmed the forum will devise specific restructuring measures for State-owned enterprises.

Business and international institutional representatives agreed the Vietnamese Government has made significant improvements to the country’s investment environment. They are anticipating even more proactive reforms in the very near future.

European Chamber of Commerce President Preben Hjortlund said Vietnam’s economic sustainability ambitions demand higher volumes of quality foreign direct investment (FDI).

Themed “New Phase Of Economic Reform: From Agenda to Action” the forum discussed a range of issues related to capital markets, State-owned enterprise equitisation, infrastructure development, education and training, and customs and tax policy.

The 2013 Vietnam Business Forum was jointly held by the Ministry of Planning and Investment, International Finance Corporation (IFC) and World Bank (WB) ahead of the Vietnam Development Partnership Forum scheduled for December 5.