Greater efforts to improve business climate, competitiveness

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Báo Dân Trí English - 1 month(s) ago 3 readings

Deputy Prime Minister Vu Duc Dam has called for joint efforts and responsibility of all Vietnamese enterprises to further improve the national business climate and competitiveness.

Deputy Prime Minister Vu Duc Dam has called for joint efforts and responsibility of all Vietnamese enterprises to further improve the national business climate and competitiveness.

In his remarks at a conference to launch the Government’s Resolution No.19 in Hanoi on March 10, the Deputy PM underscored the role of the Government in guiding the implementation, and called on the business community to have confidence and patience to improve the national business climate.

This is the fourth time in the four consecutive years the Government has issued a Resolution on tasks to improve the business climate and national competitiveness, showing the country’s strategic breakthrough effort in institution reform, with the focus on administrative procedures.

This has contributed to Vietnam’s improved business environment ranking done by the World Bank in 2016, now standing at 82nd from the 91st – the highest improvement level since 2008.

Dr. Nguyen Dinh Cung, Director of the Central Institute for Economic Management said, “Tougher actions, closer coordination, strict leadership of the Prime Minister and Deputy Prime Ministers, and proactive engagement of ministers are needed. Only can we be successful, if we work responsibly in the spirit of a facilitating, righteous, and acting government who serves the people.

Vietnam is targeting the level of ASEAN 4 countries (Singapore, Malaysia, Thailand and the Philippines) later this year in terms of business environment; become one of the top 70 and 80 countries in terms of start-ups and protection of minority investors, respectively; and among the top 30 countries listed by the World Bank in transparency and access to credit.

By 2020, the country also targets being among the top 40 countries ranked by the World Economic Forum in access to loans, achieving the average level of ASEAN 4 countries in competitiveness and that of ASEAN 5 (Malaysia, Vietnam, Indonesia, Thailand and the Philippines) in terms of the Global Innovation Index released by the World Intellectual Property Organisation.

On e-government, comprehensive reform will be conducted in telecommunications infrastructure, human capital and online service indexes, so that the country will be rated among the top 80 countries in the UN e-government ranking.

By the end of this year, most public services involving citizens and businesses will be launched at Level 3 and Level 4 which allows online payments and applications.

The government asked ministers and leaders of ministry-level agencies, government units, centrally-run municipal and provincial People’s Committees to devise action plans before February 28 to execute the resolution.

Municipal and provincial authorities were asked to launch one-stop shop models to simplify and shorten time for tax and fee procedures.

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