Vietnam needs to complete economic market institutions while promoting administrative reforms and creating favourable conditions for foreign businesses to invest in the country to improve the business climate.

PhD Nguyen Dinh Cung, Director of the Central Institute for Economic Management (CIEM), made the statement at a conference held in Hanoi on July 30.

He underscored that the Government Resolution 19/2015 on main missions and solutions to improve the business environment defines three strategic breakthroughs and the acceleration of economic restructuring in state-owned enterprises, public investment, financial institutions and agriculture.

Laura McKechnie, Deputy Office Director and Economic Governance Officer from the Economic Growth Office of the United States Agency for International Development (USAID), highlighted that business climate improvement will make economic growth much more comprehensive.

Experts at the conference proposed a number of solutions to advance the business environment such as boosting public service socialisation, reshuffling public organisations, intensifying capitalisation and increasing the application of information technology in government management.

CIEM is collaborating with USAID to implement the Government Resolution 19/2015 to remove business environment barriers for enterprises.-VNA