Hanoi (VNA) - Vietnam was placed atthe 70th position out of 190 economies in the World Bank (WB)’s latest report on 2020 Ease of DoingBusiness ranking.
🉐 The rankingwas down one notch from last year, despite a higher score of 69.8points out of 100.
In the report, the WB marked and rankedeconomies in ten areas including starting a business, dealing with constructionpermits, getting electricity, registering property, getting credit, protectingminority investors, paying taxes, trading across borders, enforcing contracts,resolving insolvency, employing workers, and contracting with the government.The employing workers and contracting with the government indicator sets arenot included in this year’s ranking on the ease of doing business. Vietnam was said to have made significant improvementsin getting credit and paying taxes, resulting in increases of 5 and 6.1 pointsagainst last year’s results, respectively, while other areaswitnessed minor improvements or remained unchanged. Notably, the country’s score in resolving insolvency declined by0.1 points against 2019’s ranking. The ranking of other Southeast Asian countries are Singapore (2nd) Malaysia (12th), Thailand (21st), Indonesia (73rd), the Philippines (95th), Brunei (66th), Cambodia (144th) and Laos (154th). New Zealand came at the first place inthis year’s ranking, followed by Singapore, Hong Kong (China), Denmark and theRepublic of Korea. The US was at number six./.
The World Bank (WB) has said the Malaysian government needs to diversify and increase its revenue resources, including widening coverage of the sales and services tax (SST) to rebuild fiscal buffers.
Indonesia's economic growth was estimated to remain at a moderate level around 5 percent until 2021, mainly backed by consumption, a World Bank (WB) senior economist has said.
Cambodia's economy is projected to moderate to 7 percent in 2019 after experiencing a better-than-expected growth rate of 7.5 percent in 2018, the World Bank (WB) said in its new report released on October 10.
Ease of doing business in the Philippines improved over the past year, with the Southeast Asian country climbing 29 notches in World Bank’s “Doing Business 2020” report released on October 24.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
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.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
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.
Illustrative image (Source: VNA) 
