Recent Hanoi conference heard that Vietnam’s top priority is to improve the business environment as it tries to recover its economy. Economists and policymakers shared their views at the conference. Nguyen Dinh Cung, former chief of the Central Institute for Economic Management, stated that the prolonged social and mobility restrictions to manage COVID-19 had greatly hampered efforts towards improving the business environment.
As reforms slowed down, there was resistance from government ministries and offices. According to a news source, he stated that he had witnessed the return to business requirements that were once removed and additional requirements being put in place.
Thao stated that too much commitments had been made by the government, but not enough had actually been implemented and reviewed. Nguyen minh Thao, head CIEM’s competition and business environment department, agreed.
Experts recently stated that Vietnam must improve its business environment in order to bring the economy back on track. Nguyen Dinh, former head of Central Institute for Economic Management, stated that the country’s inability to lift social and mobility restrictions to monitor COVID-19 has significantly hindered efforts to improve the business climate.
She was quoted as saying, “For example: While local governments and ministries reported an increase in the number of administrative procedures online in many cases, they have not been capable to effectively service businesses.”
This is reflected in Vietnam’s low-than-impressive Economic Freedom score. The country ranked 17th among 40 countries in the Asia–Pacific region, with 61.7 points—just 0.01 points above the world average.
Tran Duy Doong, the Deputy Minister of Planning and Investment, stated that the government is committed to long-term and sustainable improvements in the business environment. He considered it a driving force of economic recovery and national development.
He added that the January decree approved by the Prime Minister’s Office authorizing funding for a programme to speed up this process was also approved.
Fibre2Fashion News Desk – DS
