Vietnam looks to sharpen competitive edge

The government should help home enterprises enact a strategy on improving business climate and national competitive edge, first introduced in March, economic experts suggested at a workshop in Hanoi on June 4.
The government should help home enterprises enact a strategy on improving business climate and national competitive edge, first introduced in March, economic experts suggested at a workshop in Hanoi on June 4.

The event came as a mere one-third of localities nationwide have come up with plans to realise the strategy, known as Resolution 19, which lists a set of measures meant to enhance administrative reforms, helping firms save processing time and costs.

Director of the US Agency for International Development, Joakim Parker, said his agency is willing to assist Vietnam in implementing the strategy.

If successful, Vietnam will be able to strengthen its global trade commitments, including those made within ASEAN, the World Trade Organisation and the Trans-Asia Pacific deal, Parker said.

Under the strategy, the country sets the goal of meeting the standards of the ASEAN-6 group in terms of business licensing and insolvency, tax payment, customs formalities, access to electricity supply and credit, and investment protection by 2015.

The event was hosted by the Central Institute for Economic Management.-VNA

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