Improving business environment is vital to increase competitiveness for enterprises, especially in the light of international integration, heard a workshop in the Mekong Delta city of Can Tho on August 25.
Director of the Central Institute for Economic Management (CIEM) Nguyen Dinh Cung pointed to shortcomings in the business climate at both national and local levels, saying that more than half of the legal documents in the field of economy are no longer suitable with the reality, significantly hindering business activities.
He noted that Vietnam lies at the end of the World Bank list of business climate indicators such as business start-up, social insurance and tax payment, construction licences, electricity and credit access, and contract disputes settlement.
Besides complicated and overlapping administrative procedures, the time to deal with paper work is too long. Specifically, it takes 34 days to get a start-up licence in Vietnam, while it takes only one day in New Zealand; the customs clearance duration in Vietnam is 21 days, but only 6 days in Singapore.
Deputy Head of the CIEM’s Business Environment Department Nguyen Minh Thao mentioned another problem, which is unofficial “fees” besides tax and fees. Therefore, it is important to create a transparent business environment and increase professional ethics among State employees.
At the same time, it is necessary to push ahead with the application of information technology in administrative reform, she suggested.
It is reported that over 90 percent of State-run administrative agencies have applied information technology. But in reality, many places have failed to establish a database and links between departments, she noted.-VNA
Vietnam needs to complete economic market institutions while promoting administrative reforms and creating favourable conditions for foreign businesses to invest in the country.
Concrete steps to better the joint inspection of improvements to the business environment and tax and customs competitiveness was outlined at a recent meeting in Hanoi.
The implementation of Government Resolution 19/NQ-CP on improving business environment and national competitiveness between 2015 and 2016 has shown encouraging outcomes in the first half of this year, said Minister of Planning and Investment Bui Quang Vinh at the regular cabinet meeting held in Hanoi on June 29.
Representatives from ministries, business associations and experts gathered at a conference in Hanoi on June 18 to review the implementation of a Government resolution on improving the business environment and national competitiveness, also known as Resolution 19.
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.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
Illustrative image (Source: VNA)
