Illustrative image (Source: VNA)
Hanoi (VNA) - Vietnam was placed atthe 70th position out of 190 economies in the World Bank (WB)’s latest report on 2020 Ease of DoingBusiness ranking.
The rankingwas down one notch from last year, despite a higher score of 69.8points out of 100.
In the report, the WB marked and rankedeconomies in ten areas including starting a business, dealing with constructionpermits, getting electricity, registering property, getting credit, protectingminority investors, paying taxes, trading across borders, enforcing contracts,resolving insolvency, employing workers, and contracting with the government.The employing workers and contracting with the government indicator sets arenot included in this year’s ranking on the ease of doing business.
Vietnam was said to have made significant improvementsin getting credit and paying taxes, resulting in increases of 5 and 6.1 pointsagainst last year’s results, respectively, while other areaswitnessed minor improvements or remained unchanged.
Notably, the country’s score in resolving insolvency declined by0.1 points against 2019’s ranking.
The ranking of other Southeast Asian countries are Singapore (2nd) Malaysia (12th), Thailand (21st), Indonesia (73rd), the Philippines (95th), Brunei (66th), Cambodia (144th) and Laos (154th).
New Zealand came at the first place inthis year’s ranking, followed by Singapore, Hong Kong (China), Denmark and theRepublic of Korea. The US was at number six./.
