In the agricultural sector, the board raised several issues which should be addressed, such as the inefficient and impractical strategies to attract investment, resulting in limited access to credit capital and incentives for many businesses. Moreover, the administrative procedures accompanying incentive policies for high-tech farming in Vietnam are causing inconvenience for agricultural enterprises.

Agricultural products trading platforms have not fulfilled their objectives of controlling product quality and quantity—with priority on origin tracing and food safety—while at the same time facilitating the development of e-commerce among agricultural enterprises

Despite the growing volume of agricultural products exports in recent years, the low added value of Vietnamese agricultural export products has led to low economic returns.

There are also concerns over the inefficiency in promoting public private partnerships in the agricultural sector. The lack of focus on priority markets has led to the inefficient allocation of resources.

In 2017, the Vietnamese tourism sector has experienced significant improvements, thanks to a series of mechanisms and policies. However, the current achievements are insufficient to lay a solid pathway toward sustainable development. 

One of the main reasons is the focus on numbers instead of quality, as well as low capabilities in the organization and management of destinations, and the lack of specialized tourism products. 

Specifically, the budget for the national tourism promotion program does not match the country’s development objectives or its tourism potential. The visa policy for foreign tourists is proving to be the main obstacle for tourism development. 

As such, the 15-day visa exemption is shorter than what is offered by neighboring countries. Additionally, the Vietnamese government only announces countries with visa exemption 1-3 months before the effective starting date, making it difficult for tourists to plan in advance.

There remain challenges in the process of building the digital economy and developing smart cities in Vietnam, as well as in encouraging startup innovation. The lack of a national digital development strategy is causing inconsistencies among policies and regulations. 

Additionally, there are no incentive policies to encourage investment in information technology (IT) companies. There is also a lack of a complete legal framework for startups, especially on the process of commercializing startup products.

Existing policies and legal framework have not been much of a support for enterprises in expanding business activities. There is also a lack of funds in developing smart cities and no incentives to mobilize resources from the private sector. 

According to the board, it is important to speed up efforts in the equitization process on the basis of a clear roadmap. At present, the average share volumes offered in Initial Public Offerings (IPOs) of state-owned enterprises (SOEs) is in the range of 5-15%. However, the chances for successful SOE equitization increase if there is a clear roadmap in reducing state ownership in the next 3-5 years.

There should also be a fair playground with clear regulations in dealing with violations, the board stressed.