Vietnam’s business environment and competitiveness have been improved significantly over the past three years thanks to a range of solutions, according to the Ministry of Planning and Investment (MoPI).
The country’s efforts have been reflected through the World Bank’s ease of doing business rankings in 2016, in which Vietnam climbed to the 82nd position from the 91st last year. This is the first time the country has made a big stride in the rankings since 2008.
Vietnam also claimed the 47th position among 127 economies surveyed in the 2017 global innovative index (GII) report, the highest ranking to date, up 12 places from last year’s report, according to the World Intellectual Property Organisation (WIPO).
The World Economic Forum (WEF)’s Global Competitiveness Report 2017-2018 released in September also ranked Vietnam 55th overall, up five places from 2016.
However, the MoPI said that the quality of regulations on business conditions remained low, showing a lack of a management system based on risk assessment.
Besides, the supervision system of regulations on business conditions has proven ineffective, the ministry said, pointing to inadequate acknowledgement of reforms of licences and business conditions.
The ministry, therefore, proposed abolishing about 3,000 unnecessary, irrational, ineffective business conditions and revamping State management over production and business activities on the basis of principles and practices set by the Organisation for Economic Cooperation and Development (OECD).
The ministry has called on the Prime Minister to request ministers and Chairpersons of municipal and provincial People’s Committees to closely supervise the implementation of Resolution No. 19 on tasks and solutions to improve the business environment and national competitiveness.
The ministries should promptly review and propose reducing investment and business conditions in the State management area and report to the PM before December 2017, the MoPI said.
At the same time, the MoPI will partner with the Government’s Office and relevant ministries to organise more dialogues with enterprises to clear up their concerns and petitions in a timely manner.