mtr-kdoanh

Vietnam strives to improve the business environment

  • Dec 08, 2017
The Hanoitimes – Vietnam`s business climate has increased 14 levels from 82 to 68, according to the latest World Bank`s report. This is the highest increase in the last decade of Vietnam. The business environment in Vietnam has improved but has not reached the average level of ASEAN 4.
Explanation for the business environment, the World Bank’s report showed that six indicators were rated the most positive impact on tax and social security indexes (respectively 14.78 points and 81 points), finishing at 86/190 (last year at 167); Access to electricity with a rank of 64/190 economy (up 32 levels); Access to credit increased three steps, reaching number 29/190; Building Permit Index ranked No. 20/190, improving 4 grades year-on-year (Rank 24); Investor Protection Index ranked 81/190, recorded a 6-step increase; The Contract Dispute Resolution Index increased three grades, from 69 to 66/190.

Director of the Central Economic Management Research Nguyen Dinh Cung remarked that it is only “good compared with us.” In order to reach the average goal of the ASEAN 4, Vietnam must be ranked No. 43. This is a huge gap.

According to the Chairman of the Chamber of Commerce and Industry of Vietnam (VCCI) Vu Tien Loc, the current reality shows that enterprises cannot connect with each other. These are the issues that arise when trying to promote business. As in the implementation of Resolution 19, in the three years of 2014 – 2016, up to 80% of tasks need inter-sectoral coordination, so it is necessary to clarify the tasks, responsibilities of each ministry, indicators on business, competitiveness.

Minister and Head of the Government Office, Mai Tien Dung said at the Government’s regular meeting, the Government is frankly acknowledging that production and business activities are still difficult. To further solve the difficulties for businesses, Minister Mai Tien Dung said that the Government instructed the MPI, the Ministry of Finance and the Administrative Reform Advisory Council to continue offering solutions to reduce the costs for businesses.

Source: http://hanoitimes.com.vn/economy/2017/12/81E0BC66/vietnam-strives-to-improve-the-business-environment/