Over the last six years, the 2014 Enterprise Law and its implementing Decrees have had positive impacts on creating a favourable and equal business environment, promoting the establishment, development and expansion of business of enterprise.
The elimination of business conditions has helped ease burden on enterprises, but much work needs to be done to boost the effectiveness, heard a workshop in Hanoi on February 27.
The number of women-owned businesses increased from 21 percent in 2011 to 24 percent in 2018, according the Vietnam Chamber of Commerce and Industry (VCCI).
Most of Vietnamese economic groups have still been driven by the exploitation of natural resources like oil and gas, coal, minerals and forests, which is labour intensive.
The non-State sector is playing a greater role in the economy with its proportion in the society’s total investment rising fastest among all economic sectors’.
After over five years of implementing the Government’s Resolution 19 on improving business environment from 2014 to 2018, Vietnam’s competitiveness has been significantly improved.
Despite Vietnam’s rise in the global competitiveness index, further reforms are needed to achieve economic targets set by the Government, speakers said at a workshop in Ho Chi Minh City on October 24.
In the 2016-2020, Vietnam’s economic growth has improved and gradually recovered compared to the 2000-2010 period but still has yet to reach the strategic target.
Vietnam’s economic restructuring and growth model reform in 2016-2020 have been benefiting from positive changes in policies and achievements in the 2011-2015 period, according to economist Nguyen Dinh Cung.
Experts have forecast that 'GDP may reach 6.82% for the whole year, with an estimated export turnover growth of 8.02%, a trade surplus of 0.8 billion USD and average inflation of 3.38%.
"By the end of the 21st century, 40 percent of the Mekong River Delta area flooded, 11 percent of the Red River Delta area and 3 percent of other coastal localities are forecast to be submerged."
Vietnam has experienced a year of socio-economic achievements. For example, economic growth continues at a high level; the macroeconomic environment remains stable; inflation is under control; the trade surplus is at record levels; and the State budget deficit is stable.
The Central Institute for Economic Management (CIEM) has forecast Vietnam’s economy growth for 2018 may be at 6.88 thanks to positive socio-economic results in the first nine months of this year.
Vietnam should establish specific regulations to enhance the efficiency of monitoring mechanism of the agency representing the owner at State-owned enterprises (SOEs) during the shake-up process of the businesses.
The Central Institute for Economic Management (CIEM) and the Australia-Vietnam Economic Reform (Aus4Reform) Programme held a scientific seminar in Hanoi on July 6 on reforming State monopoly in network industries.
Findings from the 2017 Provincial Governance and Public Administration Performance Index (PAPI) Report, which was released in Hanoi on April 4, showed a significant turnaround in citizens’ perceptions and experiences in corruption in the public sector.
The Australian Government and the Vietnamese MIP jointly launched Aus4Reform – a four-year long programme to boost the productivity and competitiveness of Vietnam’s economy, in Hanoi on December 13.
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