Vietnam has cut thousands of business regulations and special inspection procedures, saving 4 trillion VND (172 million USD) in 2017 and 6.3 trillion VND (270.9 million USD) in 2018, according to the World Bank (WB).
Administrative procedures streamlining offers benefits not only to residents but also civil servants as it saves time and helps them build capacity in handling paperwork.
Vietnam’s Ministry of Transport and Laos’s Ministry of Public Works and Transport are set to take the next steps to soon implement the project on building a Hanoi-Vientiane expressway in 2017.
Lao Prime Minister Thongloun Sisoulith said his country wants more Vietnamese investment in consumer goods production and timber processing to diversify the trading portfolio between the two sides.
Business
