Workers label fish sauce bottles (Photo: VNA)
Hanoi (VNA) – Vietnam moved up nine notches in the World Bank’s Doing Business 2017 report. The country climbed to 82nd position from 91st position last year, in the list covering over 190 economies.
Doing Business 2017 is the 14th in a series of annual reports measuring the regulations that enhance business activity and those that constrain it. The report presents quantitative indicators on business regulations and the protection of property rights that can be compared across 190 economies over time.
In this year’s survey, which was released on October 25, the World Bank (WB) ranked economies based on ten criteria including starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
For Vietnam, sectors that saw improvement included protecting minority investors, paying taxes, trading across borders, getting electricity and resolving insolvency.
Of these, the country’s “protecting minority investors” criteria jumped 31 notches to 87th position this year. Meanwhile, the “starting a business” dropped 10 notches compared to that of last year.
In Southeast Asia, Vietnam’s position is in the middle, following Singapore (2), Malaysia (23) and Thailand (46).
This year, Singapore has lost its top position after leading for 10 consecutive years.
New Zealand ranked in first position this year, followed by Denmark, Hong Kong and the Republic of Korea. Emerging economies such as China or India both saw increases in their positions.-VNA
