Hanoi (VNA)🔯 - The Government has just promulgated Resolution No.35/NQ-CP on supporting and developing enterprises by 2020.
According to the document, Vietnam will boost economic restructuring and enhance the quality of economic growth, with a focus on improving private sector competitiveness.
Under the resolution, by 2020 there will be at least one million operational enterprises with competitive capacity and sustainable development.
The private sector will contribute 48-49 percent of the GDP and 49 percent of the social investment capital. The Total Factor Productivity (TFP) will make up 30-35 percent of the GDP. The social labour capacity will rise 5 percent per year. Every year, around 30-35 percent of Vietnamese enterprises will launch creative renovation activities.
The Resolution rolls out principles in order to build and complete an economic institution, creating a favourable business and investment environment for businesses to develop and become a driving force for the economy.
It is necessary to ensure that the State protects people and businesses’ legal property and business freedom as regulated. Businesses have the rights to do business in lines that are not prohibited by law.
The State guarantees the stability, consistency and easy-forecast of the policy, stabilises the macro-economy, and improves the business environment in a favourable, safe and friendly way.
The State ensures the fair treatment for all businesses regardless of their forms and economic sectors in getting access to resources such as capital, resources, land and investment. The State devises specialised policies to support small- and medium-sized enterprises, newly-established and creative ones.
To realise the objectives, the Resolution sets forth numerous measures, including enhancing administrative reform, facilitating operation and development of enterprises; making the administrative reform as part of the e-Government development, and creating a favourable condition for newly-established enterprises.
The Resolution also proposes reducing 50 percent of personal income tax in some fields, simplifying and reducing procedures on land, facilitating the commercialisation of businesses’ products, renewing the lending process, reviewing sector and product development plans, cutting business costs and not crimnalising economic relations.-VNA
PM Nguyen Xuan Phuc will chair a conference with businesses nationwide on April 29, expected to spread his message that enterprises serve as a momentum for national economic development.
The Government issued Resolution 19-2016/NQ-CP on measures to improve national business climate and competitiveness between now and 2017 with a vision to 2020 on April 28.
The State will protect legitimate rights and business right of enterprises, and the Government will create the most favourable condition for business development and start-up initiatives.
The process of restructuring commercial banks in Vietnam mostly focusses on mitigating negative effects and not on promoting positive factors, one of which is the increase in private ownership.
Prime Minister Nguyen Xuan Phuc urged ministries to hasten the process of drafting decrees providing guidelines for investment and business activities, under Dispatch 789/TTg-PL.
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.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
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.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
New decree facilitates enterprises. (Photo: VNA)
