Major tasks and measures to improve business climate in 2018

Illustration photo

Accordingly, the resolution will focus on improving business-environment indicators to lift Viet Nam up from eight to 18 places in the World Bank’s rankings in 2018, especially those with low ratings. Specifically, Viet Nam’s “Starting a Business” indicator is expected to rise at least 40 places, while the indicators of “Enforcing Contracts” and “Resolving Insolvency” are hoped to move up ten places each in the WB’s rankings. 

The resolution also aims towards finalizing the abolition and simplification of 50% of investment and business conditions; reducing at least 50% of the list of goods subject to specialized inspection; strongly transforming state management from pre-inspection to post-inspection; substantially eliminating the status of a commodity item being put under management or specialized inspection of more than one agency; and reducing the proportion of imported goods subject to specialized inspection at the customs clearance period from 25-27% at present to less than 10%.

In addition, the resolution has set a target of accelerating the application of information technology in dealing with administrative procedures and implementing online public services. Accordingly, by the end of 2018, most of the popular public services related to the people and businesses will be provided online at the level 3 and 4.

After four years of the Government’s Resolution No. 19, Viet Nam’s business environment and competitiveness have constantly improved. In 2017, in general, ministries, sectors and localities have been more active and drastic in implementing solutions to improve the business climate and enhance competitiveness, with a number of positive results attained. The national competitiveness moved up five places compared to 2016 (from 60th to 55th); the business environment rose 14 places from 82nd to 68th among 190 economies; and the innovation indicator was up 12 notches to 47th among 127 economies. These are the highest rankings that Viet Nam has achieved so far.

By Vien Nhu