Prime Minister Nguyen Xuan Phuc has recently approved a project to build a set of criteria to evaluate the corporate development of the country and of each province and city separately.

According to Decision 1255/QD-TTg, the corporate development assessment criteria would be introduced from 2018 to evaluate the health of businesses.

The criteria would cover development in the number of firms, labourers, investment finance attraction level, science and technology investment and development, business strategy, market development, brand building, environmental protection and engagement level in State-supported programmes as well as operational efficiency in revenue, employee income, added value, profits, and contributions to the State budget.

The Ministry of Planning and Investment, the Viet Nam Chamber of Commerce and Industry and the Steering Committee for Enterprise Innovation and Development would be in charge of building the corporate development assessment criteria.

The Prime Minister asked the ministry to learn from the experiences of international organisations and other countries about measuring corporate development to ensure objectivity, accuracy and feasibility.

At the Government’s meeting on Monday, Prime Minister Phuc questioned why the number of new firms remained low, the number of firms halting operations increased significantly and operation efficiency of private companies was not as high as expected.

Updates from the General Statistics Office (GSO) showed that more than 73,000 firms halted operations in January - September, up by 48.1 per cent over the same period last year.

The number of new firms rose by just 2.8 per cent in the period to 96,600 firms.

Phuc said that this was a problem as the Government was determined to improve the business climate, urging the whole political system to hasten the process efficiently. — VNS