Ministry urges improved business climate

The Ministry of Planning and Investment has proposed the government to hasten efforts aimed at improving the business environment in 2018.
Ministry urges improved business climate ảnh 1The Ministry of Planning and Investment has proposed the government to hasten efforts aimed at improving the business environment in 2018 (Illustrative image. Source VNA)

Hanoi (VNA) -
The Ministry of Planning and Investment has proposed the government to hastenefforts aimed at improving the business environment in 2018.

The ministry said Vietnam’s ranking in doing business had improved considerablyin the past four years since the government implemented Resolution 19 onimproving the business climate and national competitiveness.

However, it lacked sustainability because there were indices with noimprovement at all or with results far below expectation, such asinfrastructure quality, ease of starting a business or insolvency proceedings,the ministry said.

It proposed Resolution 19 for 2018 to be issued with a focus on measures tolift those indices that ranked low as well as to add targets to improvecompetitiveness in the tourism and logistics sectors and to enhance labourproductivity.

Vietnam’s target is to rank 50-60 in the business climate in 2018.

Last year, the country moved up 14 places to rank 68th out of 190 countries,according to the World Bank’s Doing Business report.

The percentage of goods requiring specialised checks for customs clearance istargeted to be cut from 30-35 percent to 15 percent in the third quarter of2018.

Resolution 19 had stipulated this to be achieved by 2017, which did not materialise.

The ministry revealed in a recent report that the cost for specialised checksfor customs clearance was still a huge burden on businesses.

The ministry cited the case of a company importing wood products which mustbear cost worth dozens of billions of dong per year for storage as aresult of quarantine requirement.

The specialised checks were not based on a risk-based approach, did not allowthe use of the testing results on the same import product models of othercompanies and did not actively recognise quality of famous brands. “This causeshuge wastes,” the ministry said.

In addition to this, specialised checks proved to be time consuming, adding tothe risks of businesses, according to the ministry.

For example, for animal feed, the time for quality check at the Department ofAnimal Husbandry was 14 days and three weeks each at the Directorate ofFisheries and Directorate of Energy.

Statistics of the customs watchdog showed there were still some 430 documentson specialised checks.

Overlap in specialised checks between ministries, such as Industry and Trade,Agriculture and Rural Development and Health was another problem.

According to the Vietnam Chamber of Commerce and Industry (VCCI), businessesexpected more administrative reforms in tax, customs and land access as well asreduction in unnecessary and time-consuming specialised checks.

VCCI said businesses favoured an end to overlapping between ministries andsimplified procedures.

Firms also called for a fair access to resources and business opportunities andreduced business costs.-VNA 
VNA

See more

Industrial factories in Tan Uyen city, the southern province of Binh Duong (Photo: VNA)

Investors upbeat about Vietnam’s industrial property market

Investors are bullish on Vietnam's industrial property market growth on the back of the nation's strategic location, sound infrastructure, and increasing demand for industrial space, particularly industrial parks that meet green standards, according to market research.

Vietnamese Ambassador to Belgium and head of the Vietnamese Delegation to the EU Nguyen Van Thao addresses the forum (Photo: VNA)

Forum connects Vietnamese, Belgian busineses

The Vietnam-Belgian business forum took place in Brussels on October 23, offering a chance for enterprises of the two countries to introduce their products and explore new cooperation opportunities.

The expos cover over 6,000 sq.m, drawing over 210 exhibitors from 10 countries and territories. (Photo: VNA)

Hanoi hosts textile & garment, fabric garment accessories expos

The Vietnam Hanoi Textile & Garment Industry and Fabric Garment Accessories Expos 2024 (HanoiTex & HanoiFabric 2024) is taking place in Hanoi on October 23 – 25 as part of a series of international exhibitions on Vietnam's textile and garment industry.

Representatives from Vietnamese and Lao agencies, localities and businesses at the opening ceremony of the Vietnam-Laos trade fair 2024 in Xiengkhouang province. (Photo: VNA)

Vietnam, Laos step up trade, tourism promotion

A Vietnam-Laos trade fair was kicked off in Phonsavanh township in Xiengkhouang province of Laos on October 23 as part of activities to celebrate the 75th anniversary of the traditional day of Vietnamese volunteer soldiers and experts in Laos (October 30, 1949 – 2024).

Illustrative photo (Photo: chinhphu.vn)

Vietnamese goods enter US through global supply chain

The Saigon Co.op Distribution Company Limited (SCD) - a member of the Ho Chi Minh City Union of Trade Cooperatives (Saigon Co.op), and STC Natural Vina Company on October 23 held a hand-over ceremony for goods that will be exported to the US.

Vietnam’s lobsters have clawed their way back onto Chinese menus after a suspension. (Photo: VNA)

Vietnam’s lobsters claw back prominence in China

Vietnam’s lobster export to the Chinese market in January-September rose 33 folds year-on-year on the back of lower prices and stronger trade ties between the two nations, the South China Morning Post said on October 22.