Vietnam has climbed in the ranking of the best destinations in which to invest this year, surpassing other Southeast Asian nations such as Malaysia, Singapore and Indonesia.
Vietnam recorded a continuous increase in the number of newly established enterprises in the first 11 months, demonstrating the efficiency of improving the business investment environment.
The Vietnam – Japan Policy Research Forum, themed “Engendering Japan-Vietnam Industrial Cooperation through Promoting Technology Transfer”, took place in Hanoi on November 22.
State-owned-enterprises (SoEs) are largely unprepared for the demands of the digital age despite pressing demand for change in the sector, a researcher has said.
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’.
The private sector was the main driver of growth for Vietnam in the first nine months this year, a conference held by the Central Institute for Economic Management (CIEM) heard in Hanoi on October 30.
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.
Vietnam needs to issue special policies for the automobile industry to catch up with other countries in the ASEAN region, said experts at a conference held in Hanoi on October 22.
Economist Le Dang Doanh, former head of Vietnam’s Central Institute for Economic Management, presented the Southeast Asian country’s reform policies and achievements over the past three decades at a recent high-level dialogue that focused on development measures for Tanzania.
Vietnam must identify, implement and build management models for sharing economy applications in the country’s major sectors such as banking and transport to ensure a fair business playground and protect all involved parties, said economics experts at a conference on the sharing economy in Hanoi on October 10.
The rate of the investment from the non-state sector is on a constant rising trend, from 38.5% in 2001 to over 43% in 2018, marking a nearly 5 percentage point in the total social investment.
The market capitalisation has grown rapidly since 2016, by nearly 70 percent in 2016, 90 percent in 2017 and 28 percent in 2018, about 62.7 percent each year on average during the 2016 – 2018 period.
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.
The Prime Minister's working group said on August 22 that ministries had drastically cut business conditions and administrative procedures in order to facilitate businesses’ activities, but more still needs to be done.
Business
XIII National Congress of Communist Party of Vietnam
