13:27 | 10/06/2017 Economy- Society
(VEN) - At his recent annual meeting with business representatives in Hanoi, Prime Minister Nguyen Xuan Phuc affirmed Vietnam’s determination to build an active, constructive government willing to support business development.
|Prime Minister Nguyen Xuan Phuc meets business representatives in Hanoi|
At the meeting, Minister of Planning and Investment Nguyen Chi Dung and Minister Mai Tien Dung, Head of the Government Office, said since April 2016, the prime minister had provided guidance for relevant authorities to put in place suitable regulations and policies to support business development.
The government has promulgated 115 decrees and 18 decisions pertaining to the investment and business environment, and 50 decrees facilitating business access to credit loans and land resources, providing them with support in worker training, prioritizing businesses in the fields of high-tech agriculture, tourism, pharmaceuticals, seafood, clean energy, food safety and fertilizers.
The government has also accelerated administrative reforms to renovate management along with efforts to build an e-government to support business development. It has provided guidance for establishing and developing interaction channels between state officials and businesses and people.
According to the Vietnam Chamber of Commerce and Industry (VCCI), the business community and international organizations welcome implementation of Governmental Resolution 35/NQ-CP dated May 16, 2016. Specifically, 75 percent of surveyed businesses recognized positive effects of measures proposed in the resolution. The VCCI says many administrative procedures and licenses have been abolished. An open business environment has been created, facilitating startups and innovations, ensuring equal access to resources and opportunities for all businesses. Access to loans has been facilitated. Transportation costs, land rent and additional taxes imposed on imports and exports have been reduced helping enhance business efficiency.
Ensuring business environment’s health
Last year, the government issued more than 50 decrees to improve the business environment, facilitate startups and untie difficulties for businesses. Some 4,500 administrative procedures have been amended or abolished, and 77.5 percent of business petitions dealt with.
PM Phuc affirmed that the government had identified problems facing businesses and investors. These include contradictions between sub-law documents, high taxes and limited access to credit. Businesses also complained about the way in which they were inspected.
The government will concentrate on building a fair and friendly environment where all businesses are law-abiding and willing to enhance their competitiveness and strive to achieve optimal technological achievements to adapt themselves to Industry 4.0.
In 2016, 110,100 new businesses were established in Vietnam, and the number of companies resuming operations grew 24.1
percent compared with 2015. In the first four months of this year, 39,580 new businesses were established with total
registered capital of more than VND369.63 trillion.