VCCI Chairman Vu Tien Loc (Photo: VNA)VCCI Chairman VuTien Loc said the business climate features many restrictions that need to beaddressed in the next five years.
Although legal regulations,administrative procedures, and business investment conditions have become moretransparent, the public disclosure of State plans and reports for enterpriseshave been noted by many as remaining too general and not overly useful.
Conditions to joina number of sectors have been cut to facilitate small and medium-sizedenterprises (SMEs) to enter the market, but policy fluctuations for sectorsrequiring large investments and with long capital return periods have hinderedcompanies from putting down their money.
While manyadministrative procedures can now be done online, they still exhibit shortcomingsand are not user-friendly, Loc said.
Tran Thi Hong Minh,Director of the Aus4Reform Programme, said the implementation of the Australian-fundedprogramme in support of economic reform in Vietnam have so far posted significantachievements, contributing to helping the country lift its internationalrankings.
Also Director ofthe Ministry of Planning and Investment’s Central Institute for EconomicManagement (CIEM), Minh pointed to a series of bottlenecks facing businesses,like overlapping and unnecessary business conditions and an ineffectivesingle-window mechanism.
VCCI Chairman Loc alsonoted that further improvements towards sustainable development require aconcerted effort from both businesses and State agencies./.
VNA
