Government resolution eyes business environment improvement

• Vietnam pledges to continue improving business environment
• Vietnam tries to create favorable business environment

The Vietnamese Government has issued a resolution on continuing with solutions and tasks to improve the business environment and increase national competitiveness in 2018 and beyond - Illustrative image (Source: VNA)

The resolution aims to improve indexes related to the business environment in order to jump 8-18 steps from the current 68th place the in World Bank’s Doing Business Rankings, with the focus on low-rated indexes.

Specifically, the country will try to move up at least 40 places in the index of Starting a Business, 10 places in Enforcing Contracts and 10 places in Resolving Insolvency.

Under the document, half of business and investment conditions will be eliminated or simplified, while the number of commodity types subject to specialised inspections will be reduced by at least 50 percent. 

State management will be shifted from pre-inspection to post-inspection. Additionally, products will be no longer be managed by more than one agency. The rate of import goods subject to specialized customs check will be reduced from the current 25-27 percent to under 10 percent. 

The resolution requires hastening the application of information technology in handling administrative procedures, including online public services.

The Government asked Ministers and Chairpersons of People’s Committees of provinces and centrally-run cities to build action plans on carrying out the resolution before May 31, and to direct the implementation of measures to improve the business climate and competitiveness.