Postponement and the miss

- On the date of Circular 02 errors, Alain hopes "the banks have just enough capacity to implement voluntary implementation of the provisions of Circular 02". The initiative is finishing his good ways to assert their competitiveness, to increase the confidence of customers and partners with the banking system in the current context.

Instead of receiving the promise of solutions to improve the competitiveness of Vietnam,investors want to see concrete action.

 
Confidence remains weak

Mr. Alain Cany, co-chairman of Union Vietnam Business Forum after expressing regret about the decision back to the period of application of Circular 02 on loan classification and provisioning have to mention the risk to reiterate that, it's personal opinion. "I used to work in the banking industry should understand that, if done in accordance with the contents of Circular 02 is too good for the strong and weak banks are exposed. Perhaps it is because of this that the State Bank decided to step back one year to the banks time to prepare, "said Alain Cany expressed the opinion that the exchange of content Vietnam Business Forum ( VBF) between the mentioned period in 2013. "This is bad news for efforts to improve the business environment in Vietnam," he said and predicted, the reason of this decision is higher bad debt figures were announced.

Maybe he was too cautious Alain Cany when separating personal opinion from the chairman position Alliance Vietnam Business Forum, because at this forum, the banking group also mentioned concerns about the difficulty quickly resolve bad debt when implementing this circular delayed.

To reiterate his appreciation Le Minh Hung, Deputy Governor of the State Bank of Vietnam to discuss this issue in the 2013 midterm VBF, such as Circular 02 is a major step in ensuring transparency of the banking system, given Vietnam's banking system closer proximity to the international standards of risk management, more accurately reflects the credit quality, bad debt situation ... for the process of restructuring structure of credit institutions.

Obviously, the decision is not made positive solutions is a job were standing there, as well as to create favorable conditions for enterprises to access bank loans, credit support to boost economy , created by the interest rate and solve difficulties for business. Mr Hung also mentioned the reason for the credit institutions to prepare the conditions for the full application of Circular 02.

However, doubts about the accuracy of his figures bad debt and regret Alain Cany of the bank groups showed quite the opposite effect of the decision to back the implementation of Circular 02 of the State Bank water. It is the belief in the world of business is relatively low capital investment continues to wobble reason.

Just a few days before the midterm VBF place, the European Chamber of Commerce (EuroCham) in Vietnam has also announced the results of the survey on the business climate index (BCI) is done every quarter with an increase of 2 points, from 48 to 50 points of the quarter for the quarter I/2013 II/2013. However, the increase is too small and the new index in the average BCI. Compared with the highest level of the BCI (implemented since the end of 2010) is 79 points in first quarter of 2011 can be found, the business confidence of the business community is shaking Europe. Still, 57% of enterprises feedback see business prospects in Vietnam is their average or negative.Competition in the real value

Quite a lot of foreign investors mentioned new opportunities will come from the Economic Partnership Agreement Trans-Pacific strategy (TPP) free trade agreement Vietnam - EU ... after talks end and the conclusion is made. Even, Mark Gillin, president of the Association of Commerce (AmCham) in Vietnam said, studies have shown that, Vietnam will benefit the country most of the countries TPP negotiations. "Private sector companies will market access easier, promote competition and attract more inflows of foreign direct investment (FDI) ...," said Mark Gillin said.

However, it is not easy to take advantage of this opportunity as his own or Mark Gillin also be emphasized, if not solve the problem of the competitiveness of the economy, the concern about missing " train "of Vietnam is present, especially when the time of execution of this agreement is expected to be around 2015.

Survival efforts of the Vietnamese business now is not enough to compete, especially in the playing field of international rules


"Some people believe that the challenges of Vietnam problematic and peculiar situation in Vietnam does not allow the implementation of feasible solutions. Vietnam is not the only country having problems with bank loans. It is not the first country to face the difficult decision to dissolve state-owned enterprises operate inefficiently ... We can learn a lot from the experience of other countries in the implementation of reform way, "said Mark Gillin analysis and recommendations, arrived at the decision to be made more quickly, the procedure is simplified, enforced laws more fair and competitive business together its real value.

That's not to mention the weak state of health of the business community in Vietnam. Mr Simon Andrew, Regional Director of the International Finance Corporation (IFC) also said that recently, the Vietnam now only attempt to ensure survival. "That effort is not enough to compete, especially in the playground of international rules," he stressed.


Back to the concerns of Alain Cany, a very knowledgeable Vietnam, on the date of Circular 02 errors, Alain hopes "the banks have done just enough capacity to voluntarily implement the provisions of Circular 02 ". The initiative is finishing his good ways to assert their competitiveness, to increase the confidence of customers and partners with the banking system in the current context.