Vietnam targets ASEAN-4 ranking in business environment

Update: 16:01 | 03/01/2019
Annual Resolution No.02, formerly known as resolution No.19, has been issued in early 2019 instead of in May as in previous years, sets high aim for Vietnam to improve its business environment.
TIN LIÊN QUAN
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Vietnam targets to climb 5 – 7 places in the World Bank’s ranking on business environment in 2019 and 15 – 20 places in the next three years, enabling it to become one of the top four business-friendly countries in ASEAN, according to the government’s Resolution No.02.

Resolution No.02, formerly known as Resolution No.19, was issued in early 2019 instead of in May as in previous years, sets high aim for Vietnam to improve its business environment. 

Additionally, the resolution also expected Vietnam’s rank in global innovation index of the World Intellectual Property Organization (WIPO) to increase 2 – 3 places in 2019, and 5 – 7 places by 2020. 

The government requested ministries and government agencies to continue removing and simplifying outdated business conditions and the number of goods subject to specialized control regulations, in a bid to smooth the business environment. 

vietnam targets asean 4 ranking in business environment
Illustrative photo. (Photo: Hanoi Times)

Resolution No.02 prohibits drafting new business conditions that violate laws and regulations. In addition, the current number of goods required for specialized inspection must be reduced by a half before June 2019. 

The Ministry of Planning and Investment (MPI) is responsible for drafting a report summarizing the impact of removing business conditions for the business community, and submitting to Prime Minister Nguyen Xuan Phuc in June 2019. 

Moreover, the State Bank of Vietnam is tasked to revise laws on non-cash payment transaction, while the Ministry of Information and Communications (MIC) must complete the framework for e-government for the 2018 – 2025 period in the first quarter of 2019. 

The government stressed the importance of supporting development of innovative start-ups, in which enterprises would be the center of an innovative start-up ecosystem. 

More importantly, the government would not interfere with the innovation process of enterprises, research centers and universities. 

The Ministry of Science and Technology must focus on measures to master the core technologies of the Fourth Industrial Revolution, especially the artificial intelligence. 

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(Source: Hanoi Times)