Conference looks to raise VN's ease-of-doing-business ranking

Friday, Mar 13, 2015 07:40

Workers make leather shoes at Pou Yuen Viet Nam Ltd Co. Viet Nam is seeking to improve its business environment to raise the competitiveness of the economy. — VNA/VNS Photo Thanh Vu

HA NOI (Biz Hub) — Viet Nam is seeking to improve its business environment, which has also been recognised by the Government as a vital task for ensuring economic growth and competitiveness in the economy.

As part of the effort, the Central Institute for Economic Management (CIEM) and the United States Agency for International Development (USAID) jointly held a conference yesterday to discuss measures to implement the Government's Resolution and enhance the country's ease of doing business index, which is ranked by the World Bank.

The Resolution, issued in March 2014, aims to improve the business environment and competitiveness of Viet Nam by reducing costs, time and risks involved in doing business in the country.

At a Government meeting earlier this month, Prime Minister Nguyen Tan Dung expressed the Government's determination for improving the country's business climate, saying that it is critical for socio-economic development and has become an urgent task for Viet Nam amidst rapid global integration.

Dung said ministries must come up with detailed measures aimed at administrative reform, including tax, customs and power access, and create a breakthrough in the business climate within this year.

Nguyen Dinh Cung, head of CIEM, said the institute is working with the business community and associations to figure out solutions for challenges that will hit Viet Nam while improving the business environment and enhancing competitiveness. He said the framework of USAID's Government for Inclusive Growth project has offered opportunities to Vietnamese policy-makers for learning from international experiences in improving business climate.

During the six-day conference, discussions will be carried out about the 10 topics covered in the World Bank's "Doing Business" report.

These include getting electricity, trading across borders, enforcing contracts, registering property, getting credit, dealing with construction permits, resolving insolvency, protecting minority investors, starting a business and labour market regulation.

The World Bank's experts said Viet Nam needs to target a roadmap for reducing administrative procedures and cutting costs for businesses. The latest "Doing Business" report by the World Bank announced last October ranked Viet Nam 72nd among 189 countries in terms of ease of doing business.

The Government expects the ease of doing business index to reach the average level of the ASEAN-6 (Brunei, Indonesia, Malaysia, Philippines, Singapore and Thailand) by the end of this year and of the ASEAN-4 (Singapore, Malaysia, Thailand, Philippines) by 2016. — VNS

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