Improvements to business climate slowing: VCCI report
Efforts to improve Vietnam’s business climate have continued despite COVID-19 but progress appears to have slowed down compared to previous years and differs between fields, according to the latest report from the Vietnam Chamber of Commerce and Industry (VCCI).
Hanoi(VNA) - Efforts to improve Vietnam’s business climate have continued despiteCOVID-19 but progress appears to have slowed down compared to previous years anddiffers between fields, according to the latest report from the Vietnam Chamberof Commerce and Industry (VCCI).
VCCI Chairman VuTien Loc said the business climate features many restrictions that need to beaddressed in the next five years.
Although legal regulations,administrative procedures, and business investment conditions have become moretransparent, the public disclosure of State plans and reports for enterpriseshave been noted by many as remaining too general and not overly useful.
Conditions to joina number of sectors have been cut to facilitate small and medium-sizedenterprises (SMEs) to enter the market, but policy fluctuations for sectorsrequiring large investments and with long capital return periods have hinderedcompanies from putting down their money.
While manyadministrative procedures can now be done online, they still exhibit shortcomingsand are not user-friendly, Loc said.
Tran Thi Hong Minh,Director of the Aus4Reform Programme, said the implementation of the Australian-fundedprogramme in support of economic reform in Vietnam have so far posted significantachievements, contributing to helping the country lift its internationalrankings.
Also Director ofthe Ministry of Planning and Investment’s Central Institute for EconomicManagement (CIEM), Minh pointed to a series of bottlenecks facing businesses,like overlapping and unnecessary business conditions and an ineffectivesingle-window mechanism.
VCCI Chairman Loc alsonoted that further improvements towards sustainable development require aconcerted effort from both businesses and State agencies./.
There is still significant room for stronger reforms to create a more favourable business environment and make Vietnam among countries with the best business environment in ASEAN, according to the Vietnam Chamber of Commerce and Industry (VCCI).
After two years of implementing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the use of the deal to generate benefits for the economy and businesses has remained modest, according to insiders.
Measures to improve Vietnam’s business environment continued showing effectiveness despite the COVID-19 pandemic, but the speed of improvement slowed compared to previous years.
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A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
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The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
VCCI Chairman Vu Tien Loc (Photo: VNA) 
