Tuesday, January 21, 2020 3:05:27 PM - Markets open
VN-INDEX 986.37 +7.74/+0.79%
HNX-INDEX 105.59 +0.95/+0.91%
UPCOM-INDEX 55.98 +0.50/+0.89%
VN to evaluate business reform results
https://vietnamnews.vn - 1/1/2020 10:00:00 AM
 (0 ratings. You must sign in to rate.)
For the first time, Việt Nam plans to announce differences between business rules before and after removals or simplifications to evaluate the efficiency of reform efforts.
 
The idea was proposed in a draft for a Government resolution on improving the business climate and national competitiveness which the Ministry of Planning and Investment recently published for comment.
 
The draft said comparisons between business prerequisites before and after alterations as of the end of 2019 must be made public within the first quarter of  2020.
 
According to Nguyễn Minh Thảo from the Central Institute of Economic Management, who was in charge of compiling the resolution, many ministries reported they had been aided by the removal and simplification of business rules.
 
However, Thảo said several removals and simplifications did not make things better.
 
For example, Thảo pointed out that in labour safety evaluation, before reforms, licences were granted by the Ministry of Labour, Invalids and Social Affairs, but now involved by ten ministries.
 
“If we don’t have comparisons – a comprehensive look, we could hardly evaluate whether the reforms are good or not,” Thảo said.
 
Despite significant efforts and improvements in recent years, Việt Nam’s business climate and competitiveness remains relatively low at fifth in ASEAN.
 
In ASEAN, Việt Nam comes after Singapore (which ranks second in the world), Malaysia (12th), Thailand (21st) and Brunei (66th).
 
The draft targets Việt Nam jumping by five to seven spots in the ranking of the World Bank about ease of doing business next year from the current 70th position.
 
Thảo said this would be not easy because no any economies stand still.
 
In the 2019 ranking, Việt Nam earned higher scores but lost one spot because other economies moved faster.
 
Thảo said the draft would raise a number of detailed measures to improve the business climate, focusing on improving the country’s rankings of indicators like starting a business, paying taxes, dealing with construction permits, getting credit and protecting minority investors.
 
Focus will be placed on completing the draft Law on Enterprise, promoting online public services and cashless payments.
 
Thảo said the success of the resolution would be evaluated by enterprises and investors.
 
Prime Minister Nguyễn Xuân Phúc said at a meeting with enterprises early this week that the resolution would be issued soon. - VNS
 
Read original article here
Newer News
19/01 Computer viruses causes $902 million in damage to Vietnamese users
19/01 Computer viruses causes $902 million in damage to Vietnamese users
17/01 Việt Nam increases coal, ore and mineral imports from Australia
12/01 PM orders faster disbursement of public funds
08/01 Vietnam’s GDP to ease slightly in 2020: Fitch Solutions
04/01 Pork prices put pressure on CPI in 2020: experts
04/01 Origin fraud hurt Vietnamese steel in the long run
04/01 Domestic cybersecurity products on the rise
Older News
30/12 Economic milestones of Vietnam in 2019
29/12 Investment in agricultural sector remains modest
28/12 Tây Ninh promotes safe agricultural products, foodstuff in HCM City
26/12 FDI inflow makes new 10-year record in 2019
25/12 Trade promotion to focus on key markets
22/12 HCM City wants its businesses to create global brands
16/12 Vietnam’s November PMI up from last month
14/12 Việt Nam’s fruit and vegetable export value falls in 11 months
12/12 Vietnam facilitates trade with Russian firms: Deputy PM
06/12 Tra fish exports to Russia slump
 
Newsletter Signup
Top Stories
Reference exchange rate up 1 VND on January 17
Reference exchange rate up 1 VND on January 15
Reference exchange rate up 8 VND on January 9
Vietnam’s GDP to ease slightly in 2020: Fitch Solutions
Reference exchange rate down at week’s beginning
Market Update
Last updated at 3:05:02 PM
VN-INDEX 986.37 +7.74/+0.79%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.