According to the World Bank Group’s annual ease of doing business report, Vietnam ranked 82 out of 190 economies.
Such report named “Doing Business 2017: Equal Opportunity for All” was released on October 26. With a score of 63.83 on a scale of 100, Vietnam has increased by 9 ratings compared to 2016.
This year, for the first time, “Doing Business” includes a gender dimension in three of the 10 topics covered: Starting a Business, Registering Property and Enforcing Contracts.
The indicators have improved in Vietnam are: protecting the interests of minority investors (up 31 ratings to 87), paying taxes (up 11 ratings to 167), international trade (up 15 ratings to 93), access to power (up 5 ratings to 96) and handled the lost of solvency. Other indicators were stationary or downgrade.
The report found that, all the economies in the world have been reforming to make easier the doing business. Europe and Asia are the most improved regions. Two-third of the region’s 25 economies implemented 45 reforms in the past year to make it easier to do business, compared to 28 reforms the previous year.
Four economies in the East Asia and Pacific region rank among the top 10 economies globally in the Doing Business rankings. The top-ranked economies are New Zealand (at 1), followed by Singapore (2), Hong Kong SAR, China (4) and the Republic of Korea (5)
Notably, two economies from the region, Brunei Darussalam and Indonesia, are among this year’s top 10 improvers in the world.
Indonesia, which implemented seven reforms during the past year, made starting a business easier by, among other things, abolishing the minimum capital requirement for small and medium-sized enterprises and by encouraging the use of an online system to reserve company names. As a result, it now takes 22 days to start a business in Jakarta, compared with 46.5 days previously.
Brunei Darussalam, which implemented six reforms in the past year, increased the reliability of power supply by introducing an automatic energy management system for the monitoring of outages and the restoration of service.
Additionally, businesses can now get electricity faster due to the utility in Brunei Darussalam streamlining the processes of reviewing applications. As a result, a business can get connected to the grid in 35 days, compared to 56 days previously.S.Thuong