New Measure for Business Environment

11:25:19 AM | 11/2/2020

The Government’s Resolution No. 02/NQ-CP2020 on improving the business environment and enhancing national competitiveness regulates many new provisions, demonstrating the Government's determination to make Vietnam’s business environment catch up with the top four countries in ASEAN.

Specifically, this year's Resolution specifies seven main tasks and solutions to improve the business environment and national competitiveness. In which, the Government supplemented solutions in the areas that have seen the least improvement over many years, towards reducing costs and time for enterprises, particularly cutting business conditions and expenses for specialised inspection of goods.

For the first time, the Resolution requires ministries and ministerial-level agencies to update and publish administrative procedures related to the issuance of certificates of business conditions that have been simplified in 2018 and 2019.

Ministries are also asked to publicize the comparison table of business conditions before and after being simplified in the first quarter of 2020 and continue to study and propose amendments to relevant laws on the abolishment and simplification of business conditions.

The Resolution also assigns chairmen of provincial People's Committees to direct the proper and complete implementation of the regulations on the simplification of business conditions and not to set more business conditions in any form while strictly punishing officials and civil servants who fail to comply with the new regulations on business conditions.

Through the aforementioned provisions, Resolution 02 has created pressure for ministries and sectors to actually carry out reforms so that the business community as a whole will reap the full benefits from reforms. The Resolution has taken the satisfaction of the business community as a criterion for all measures of reform of the business environment and improvement to national competitiveness.

Therefore, experts expect that in the second consecutive year of promulgating Resolution 02 and the seventh year of reform, the Government will create a new measure of improvement to the business environment and national competitiveness, contributing to successfully completing the socio-economic development targets.

Vietnam has deeply integrated into the world economy and the economic openness of the country is increasing (Vietnam’s total import and export revenue in 2019 is equal to 210% of GDP). However, Vietnamese enterprises have to face competition both in the international market and be aware of domestic institutional risks to survive.

We have achieved many results in reducing business conditions, improving the investment environment, and enhancing national competitiveness but the pace is considered still slow compared to the world. Thus, we have to make more drastic and substantive reforms so that investment will flow into business projects in the fastest and most profitable manner.

Creating a good business environment is the most practical action to facilitate enterprises. When the gap between the convenience of Vietnamese business environment and the world is narrowed, Vietnamese enterprises will have more chances to grow and develop. Therefore, ministries, sectors and localities should actively and drastically implement the tasks set out in Resolution No.02 with the great importance attached to the leading role of the leaders.

Source: NDO