The Hanoitimes - Hanoi People`s Committee made a plan on key tasks for its economic development in 2016. Accordingly, Hanoi will continue to improve the investment and business environment in order to increase investment and focus on developing sectors of services, industries and information technology. Thu Minh … [Read more...] about Hanoi to improve business environment to attract more investors
(VOVOworld) - Vietnam takes the 90th position amongst the 189 countries in terms of business environment, according to the World Bank’s “Doing Business 2016” report. In last year's report, Vietnam stood at 78 in the ranking of 189 countries. However, the World Bank changed its survey methodology for the reports of 2015 and 2016. Under the new methodology, Vietnam's position last year is 93, three places lower than this year. According to the 2016 report, Vietnam made improvements in starting a business, getting electricity and credit, and paying tax. However, there are several indexes of this year to decrease compared with last year’s ranking. Vietnam also has many other indexes which do not change, such as indexes building permits, protection of property rights, contract performance. In this year’s ranking, the World Bank has added a number of new criteria including the quality of construction regulations, reliability in power supply, and the quality … [Read more...] about Vietnam moves up 3 grades in business environment rating
The International Business Colloquium entitled International business environment in Vietnam: opportunities, challenges and how to move forward at RMIT Vietnam’s Hanoi campus “Which country based on the human resource would be more successful (such as Japan and South Korea) than the one only relied on natural resources for development,” Dr Tran Du Lich, the main speaker said at an event organized at RMIT Vietnam’s Saigon South campus last month. RMIT Vietnam’s Discipline Lead for the International Business program Dr Nguyen Quang Trung Dr Nguyen Quang Trung, RMIT Vietnam’s Discipline Lead for the International Business program, speaker and organiser of the event said that there is a need from the strong collaboration of the education and training system to develop the human resources.“In order to create a strong economy by its own human resources, local and international universities … [Read more...] about What is the solution for an open business environment in Vietnam?
This year, the government adopted new incentives, simplified administrative procedures relating to credit, tax, land, construction, and imports-exports, and reduced business conditions. A wide range of meetings and forums between the government and entrepreneurs were held, while innovations and start-ups were encouraged. Impressive figuresImportant decisions for the development of the private economy were made, including the Law on Supporting Small and Medium-sized Enterprises and dozens of decrees on slashing business conditions. 80% of the total 1,100 proposals from the business community were dealt with. All this resulted in more than 120,000 new enterprises, the most in the 17 years since the Law on Enterprises was adopted. More than 25,000 enterprises resumed operation and 17.5 billion USD Foreign Direct Investment was disbursed, a 10-year high. Vu Tien Loc, President of the Vietnam Chamber of Commerce and Industry, said: “At the beginning of its term, the government … [Read more...] about Government makes progress in improving business environment
Further improving the business environment and facilitating the private sector’s development were part of the focus at the Vietnam Business Forum. In his speech at the forum, Prime Minister Nguyen Xuan Phuc said the Government will prioritise investment in infrastructure towards smart and efficient connectivity to improve transparency, and help businesses cut cost and boost competitiveness, while encouraging capital flow into education and technology.David John Whitehead, Chairman of Mavin Group told the reporter that the Government's effort to facilitate is remarkable, and that he had faith on the Prime Minister's words for the sake of foreign businesses in Vietnam. Investors and experts called for closer and more effective coordination between the private and state sectors. They said in the context of limited capital, it is necessary for Vietnam to set up an obvious legal framework for public private partnership.They said the country also needs a financial market … [Read more...] about Forum calls for improvement of business environment