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Official Gazette

Friday, August 19, 2022

Vietnam looks to further better business climate

Updated: 14:00’ - 28/05/2018
There remain many difficulties in the implementation of different versions of Resolution 19 on improving the business environment and national competitiveness over the past four years, particularly unequal participation of different ministries, sectors and localities and delay in the implementation of tasks and solutions.

A view of CIEM's conference on May 24, which was supported by the Department of Foreign Affairs and Trade of Australia and the US Agency for International Development__Photo: VGP

Such was mentioned by head of the Central Institute for Economic Management (CIEM) Nguyen Dinh Cung at a conference to implement Government Resolution 19 dated May 15 on improving the business environment and increasing national competitiveness.

Cung spoke highly of encouraging outcomes Vietnam has gained in improving the business environment and increasing national competitiveness in recent years thanks to the strong determination of the Government as well as the active participation of ministries, sectors and localities and close collaboration from the private sector.

Vietnam was ranked 55th among 137 economies in terms of competitiveness in 2017, up five places against 2016, and 68th among 190 economies in terms of business environment, up 14 steps. Last year, Vietnam also jumped 12 places to rank 47th among 127 economies in terms of innovation

However, Cung called on sectors and localities to keep a close watch on the implementation of Resolution 19 to improve the business environment and national competitiveness, contributing to increasing growth quality and speed. He also highlighted the need to improve the legal environment.

Regarding this, head of the Legal Department under the Vietnam Chamber of Commerce and Industry Dau Anh Tuan said it is necessary to push up the supervision of removal of business conditions to evaluate the effectiveness of the cut-down programs and come out with enforcement solutions.

Under this year’s Resolution 19, the quality of business environment in Vietnam is expected to reach the equal level of ASEAN-4 nations by 2020, including Singapore, Malaysia, Thailand and the Philippines.- (VLLF)


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