Annual Vietnam Business Forum aims to create stable business environment

Annual Vietnam Business Forum themed “Roles and responsibilities of foreign direct investment community in rapid and sustainable development” kicked off today in Hanoi with the aim to create a stable business environment.

Annual Vietnam Business Forum aims to create stable business environment

The Vietnam Business Forum is an on-going policy dialogue between the Government and business community aiming at a favorable business environment and a sustainable economic development in Vietnam.
Chairman of the Vietnam Chamber of Commerce and Industry Vu Tien Loc said at the forum that Vietnamese government has made considerable efforts into creating a stable business environment as well as encourage startup spirit.
According to VCCI’s survey in 2019, enterprises hailed the positive changes the Vietnamese government has made to create a stable business environment despite inequality in different sectors.
Good changes have been made in enterprise establishment and energy access while little changes have seen in business failure, investor protection and export paperwork.
The rate of rate of e-registration firm has been increasing from 12.5 percent to 17.4 percent; however, the percentage of enterprises about IT application reduced from 60 percent to 36 percent.
98.4 percent of firms paid tariff online. However, tariff inspection has not improved much because 30 percent of enterprises complained of unofficial fee.
in regard to construction permit and related document, enterprises still travel back and forth to submit their document. Moreover, there is no connection in paperwork of construction and fire. Up to 30 percent of firms moaned about difficulties when finishing document.
Noticeably, loan requirements and capital access is the biggest barriers.
According to enterprises, administrative paperwork in the field of land management has improved much in 2019; nevertheless, ambivalence of land information in public competent agencies has become big problem in the business community.
Chairman Loc said that the discrimination between local and international enterprises, between nonpublic and public enterprises has been less in all fields.
Meanwhile changes in policies directly have affected production and business activities especially tariff-related policies. Accordingly, tariff-related changes should be studied carefully and policy-makers should listen to opinions from experts and business community.

By Anh Phuong - Translated by Uyen Phuong

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