According to a draft report on the 2014-2016 implementation of the Resolution 19 of Deputy Prime Minister Vu Duc Dam, the business climate of Vietnam has been advanced 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. Since the implementation of the resolution in 2014, 8 out of 50 measures were taken and 17 others are ongoing.
Vietnam was ranked 24th in business licensing, 121st in business start-ups, 167th in taxation and insurance, and 125th in bankruptcy settlement, according to the World Bank’s rankings. Meanwhile, the World Economic Forum (WEF)’s Global Competitiveness Report has three pillars with 114 specific criteria, in which Vietnam is placed 82nd.
Deputy Prime Minister Vu Duc Dam also noted that Vietnam must leap to 56th and 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.
On concern that other countries have significantly moved up in business climate rankings, the Deputy Prime Minister stressed the importance of authorities’ responsibility for the process.
