A number of business conditions have been reduced or removed thanks to the Government’s efforts in improving the business environment and increasing national competitiveness.

Illustrative image (Source: VNA)

Particularly, the reduction of unnecessary business conditions in the fields of trade, investment and industrial production has been hailed by enterprises.

According to a periodical report of the Vietnam Chamber of Commerce and Industry (VCCI) on the implementation of the Government’s Resolution No.35/NQ-CP supporting the development of businesses, many ministries, departments and localities have actively addressed proposals of businesses in building laws and policies.

Bidding issues and procedures to set up businesses have been adjusted to save time and investment for enterprises.

Amanda Rasmussen, Chairwoman of the American Chamber of Commerce in Vietnam (AmCham), said recent progress in the fields of taxation and e-customs have shown the commitments of the Ministry of Finance and the General Department of Vietnam Taxation in saving time for businesses in the declaration stage.

Additionally, the establishment of the Government’s Advisory Council for Administrative Procedure Reform is an important step to reduce legal burdens for businesses, she said.

Tomaso Andreatta, Vice Chairman of the European Chamber of Commerce in Vietnam (EuroCham), said EuroCham highly appreciates the active support of the Vietnamese Government in improving the business environment and competitive edge.

The Government and specifically the Ministry of Planning and Investment have spared no efforts to facilitate investment activities, he said.

He added that European businesses hoped ambiguous and unnecessary business conditions will be removed or simplified in the third quarter of 2019 as stipulated in the Government’s Resolution No.2/NQ-CP on implementing key measures to improve the businesses environment and increase national competitiveness in 2019 and with orientations to 2020.

EuroCham pledged to work closely with the Vietnamese Government, ministries and departments to support the building of a national strategy to draw foreign direct investment (FDI), he affirmed.

VCCI Chairman Vu Tien Loc said the business community highly appreciates the efforts of the Government in recent time in creating a more favourbale business environment.

Many businesses expressed optimism about their prospects and planned to expand operations in the coming time, he said.

However, some bottlenecks still exist relating to land, taxation, social insurance, import-export and investment registration procedures, he added.

Loc suggested amending immediately overlapping and irrational legal regulations related to land, planning, investment, construction and environment.

Nobufumi Miura, Chairman of the Japan Business Association in Vietnam, recommended Vietnam apply measures to promote environmental protection.