Government issues resolution to improve business climate and national competitiveness
The Government recently issued the Resolution No.19 on tasks to improve the business climate and national competitiveness in 2017 with orientations to 2020.
The Government issued Resolution No.19 on February 6 on tasks to improve the business climate and national competitiveness this year with a vision to 2020.
According to the Resolution No.19, Vietnam targets to reach the level of ASEAN 4 countries (Singapore, Malaysia, Thailand and the Philippines) later this year in terms of business environment; become one of the top 70 and 80 countries in terms of start-ups and protection of minority investors, respectively; and among the top 30 countries listed by the World Bank in transparency and access to credit.
By 2020, the country is also aiming to be among the top 40 countries ranked by the World Economic Forum in access to loans, achieving the average level of ASEAN 4 countries in competitiveness and that of ASEAN 5 (Malaysia, Vietnam, Indonesia, Thailand and the Philippines) in terms of the Global Innovation Index released by the World Intellectual Property Organisation.
In the field of e-government, comprehensive reform will be implemented in telecommunications infrastructure, human capital and online service indexes, so that the country will be rated among the top 80 countries in the UN e-government ranking.
By the end of 2017, most public services involving citizens and businesses will be launched at Level 3 and Level 4 which allows online payments and applications.
Ministers and leaders of ministry-level agencies, government units, centrally-run municipal and provincial People’s Committees were asked to devise action plans before February 28 to execute the resolution.
The Ministry of Planning and Investment was requested to work with the Ministries of Finance; Labour, Invalids and Social Affairs; and Vietnam Social Insurance to improve indexes on start-ups and investor protection, partly by cutting administrative procedures
The ministry must cooperate with with the Ministry of Justice and Government Office to build a decree on amendments and supplements to existing legal documents to address business obstacles.
Under the resolution, the Government asked the Finance Ministry to adopt technological advances to manage imports-exports, and improve the efficiency of inspection at border gates and electronic customs clearance.
Municipal and provincial authorities were directed to launch one-stop shop models to simplify and shorten time for administrative procedures involving taxes and fees.
The Government requuested the Vietnam Chamber of Commerce and Industry (VCCI), the Vietnam Lawyers’ Association, the Vietnam Bar Federation and business associations to conduct surveys on the implementation of administrative procedures and make relevant recommendations to the Government.
The VCCI will also work to improve the quality of the provincial competitiveness index (PCI) rating and collect feedback from the business community to report to the National Council on Sustainable Development and Competitiveness and the Government Office.
Vietnam has moved up in the world’s doing business rankings following the implementation of the government’s Resolution 19 on measures to improve business climate and national competitiveness for 2016-2017, with orientations to 2020.
In the World Bank’s rankings in 2016, the country ranked 24th in business licensing, 121st in business start-ups, 167th in taxation and insurance, and 125th in bankruptcy settlement.
Meanwhile, the World Economic Forum (WEF)’s Global Competitiveness Report has three pillars with 114 specific criteria, in which, Vietnam is placed 82nd.
Minister-Chairman of the Government Office Mai Tien Dung said at a recent press conference after the monthly cabinet meeting, the Government will continue efforts to complete institutions in 2017 to facilitate activities of citizens and businesses.
The Vietnamese Government has directed ministries, agencies and localities to reform administrative procedures; support small and medium-sized enterprises, start-ups and innovation; ensure fair access to business resources and opportunities; and protect legitimate rights and interests of businesses, according to minister Dung.
According to the Resolution No.19, Vietnam targets to reach the level of ASEAN 4 countries (Singapore, Malaysia, Thailand and the Philippines) later this year in terms of business environment; become one of the top 70 and 80 countries in terms of start-ups and protection of minority investors, respectively; and among the top 30 countries listed by the World Bank in transparency and access to credit.
By 2020, the country is also aiming to be among the top 40 countries ranked by the World Economic Forum in access to loans, achieving the average level of ASEAN 4 countries in competitiveness and that of ASEAN 5 (Malaysia, Vietnam, Indonesia, Thailand and the Philippines) in terms of the Global Innovation Index released by the World Intellectual Property Organisation.
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By the end of 2017, most public services involving citizens and businesses will be launched at Level 3 and Level 4 which allows online payments and applications.
Ministers and leaders of ministry-level agencies, government units, centrally-run municipal and provincial People’s Committees were asked to devise action plans before February 28 to execute the resolution.
The Ministry of Planning and Investment was requested to work with the Ministries of Finance; Labour, Invalids and Social Affairs; and Vietnam Social Insurance to improve indexes on start-ups and investor protection, partly by cutting administrative procedures
The ministry must cooperate with with the Ministry of Justice and Government Office to build a decree on amendments and supplements to existing legal documents to address business obstacles.
Under the resolution, the Government asked the Finance Ministry to adopt technological advances to manage imports-exports, and improve the efficiency of inspection at border gates and electronic customs clearance.
Municipal and provincial authorities were directed to launch one-stop shop models to simplify and shorten time for administrative procedures involving taxes and fees.
The Government requuested the Vietnam Chamber of Commerce and Industry (VCCI), the Vietnam Lawyers’ Association, the Vietnam Bar Federation and business associations to conduct surveys on the implementation of administrative procedures and make relevant recommendations to the Government.
The VCCI will also work to improve the quality of the provincial competitiveness index (PCI) rating and collect feedback from the business community to report to the National Council on Sustainable Development and Competitiveness and the Government Office.
Vietnam has moved up in the world’s doing business rankings following the implementation of the government’s Resolution 19 on measures to improve business climate and national competitiveness for 2016-2017, with orientations to 2020.
In the World Bank’s rankings in 2016, the country ranked 24th in business licensing, 121st in business start-ups, 167th in taxation and insurance, and 125th in bankruptcy settlement.
Meanwhile, the World Economic Forum (WEF)’s Global Competitiveness Report has three pillars with 114 specific criteria, in which, Vietnam is placed 82nd.
Minister-Chairman of the Government Office Mai Tien Dung said at a recent press conference after the monthly cabinet meeting, the Government will continue efforts to complete institutions in 2017 to facilitate activities of citizens and businesses.
The Vietnamese Government has directed ministries, agencies and localities to reform administrative procedures; support small and medium-sized enterprises, start-ups and innovation; ensure fair access to business resources and opportunities; and protect legitimate rights and interests of businesses, according to minister Dung.
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Vietnam news in brief - August 24
Read The Hanoi Times to stay up to date on developments in Vietnam.
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