Vietnam up in world’s business climate rankings hinh anh 1Illustrative image (Photo: VNA)

Hanoi (VNA) – Vietnam has moved up in the world’s doing business rankings following the implementation of the government’s Resolution 19 on measures to improve business climate and national competitiveness for 2016-2017, with orientations to 2020.

Deputy Prime Minister Vu Duc Dam delivered a draft report on the 2014-2016 implementation of the Resolution 19 during a teleconference between the government and localities in Hanoi on December 28.

In the World Bank’s rankings, Vietnam ranked 24th in business licensing, 121st in business start-ups, 167th in taxation and insurance, and 125th in bankruptcy settlement.

Meanwhile, the World Economic Forum (WEF)’s Global Competitiveness Report has three pillars with 114 specific criteria, in which, Vietnam is placed 82nd.

The country must leap to 56thand 43rd to reach the ASEAN-6 (Brunei, Indonesia, Malaysia, the Philippines, Singapore, and Thailand) and ASEAN-4 (Singapore, Malaysia, Thailand and the Philippines) average level, respectively, Dam said.

In 2014 when the resolution began to take effect, 8 out of 50 measures were taken and 17 others are ongoing.

On concern that other countries have significantly moved up in business climate rankings, Dam underscored the importance of authorities’ responsibility for the process.-VNA