(VOVworld) – Both domestic and foreign businesses have expressed their trust in Vietnam’s business environment and voiced their support for Vietnam in meeting the challenges of new trade agreements. They voiced their opinions at the 2014 Vietnam Business Forum that opened in Hanoi on Tuesday, saying Vietnam’s economy has shown positive signs, especially following the government’s moves to improve the national investment environment.

Prime Minister Nguyen Tan Dung (at the center) attends the Vietnam Business Forum 2014

They agreed that the National Assembly’s recent approval of several new Laws including the Law on Enterprises and the Law on Investment, has created more favorable conditions and increased investors’ trust in the national business environment.  Gaurav Gupta, Chairman of AmCham Hanoi, told the forum that US businesses are optimistic about business prospects in Vietnam. He added that Amcham hopes the Vietnamese government will enhance its efforts to build a more competitive business environment for Vietnam with streamlined administrative procedures. Vu Tien Loc, Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), said: "The government has never before attached as much importance to the private sector’s role as it is doing now. Together with upgrading the domestic market economic mechanism and developing the private sector, encouraging the development of the private sector economy has become increasingly important to devising and implementing policies. We welcome the government’s efforts in administrative reform to minimize barriers to private sector growth."