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Vietnam business environment 2015 sees a better hope

Thu, 08 Jan 2015. Last updated Thu, 25 Jun 2015 08:58

Most businesses and industry associations presage about Vietnam business environment in 2015 better than that in 2014. Many fields as taxation, customs, banking, and government pond will see a new reform in time to come.

Most businesses and industry associations presage about Vietnam business environment in particular and in the world in general in 2015 better than that in 2014. Chairman of Vietnam Chamber of Commerce and Industry (VCCI) said that the concerted efforts of Vietnam government in stabilizing macroeconomic and curbing inflation, especially reforming institutions to contribute to the belief for Businesses in Vietnam.

According to the chairman, 2015 will see many laws related to business and investment environment in Vietnam. Reforms in investment and business will facilitate enterprises in Vietnam to reduce costs and improve competitiveness. To improve the business environment in Vietnam, enhance competitiveness, the government issued Resolution and Directing, synchronized solutions, especially in  reform of administrative procedures of taxation and customs, social insurance, building permits, land, establishment and dissolution of businesses, and investment procedures... After 9 months of implementation of Resolution No. 19 on missions and key solutions to improve the business environment and enhance national competitiveness, the number of hours of social insurance declaration and payment is 108 hours (fall 227 hours). Meanwhile, the electricity access decreased to 18 working days (42 days shorter than the existing regulations), and customs clearance time reduced from 21 days to 14 days and decreased from 10-20% cost for businesses.


Conference on Improving Business Environment


As a result, by 2015, Ministry of Finance will encourage functional units to boost administrative procedures in taxation and custom. For the field of taxation, the Ministry of Finance will continue to review the entire tax policy and tax administration to propose amendments to competent authorities for changing, adding tax as well as managing tax to streamline administrative procedures, while reducing the number of hours of tax payment in accordance with the target set by Vietnam government. It is necessary to continue researching, developing, and upgrading the application of information technology to serve the taxpayers and the tax administration. In addition, it is a need to coordinate with the commercial banks to rapidly deploy project on electronic tax payment, striving to finish at the end of 2015 cross the country.


Vietnam - Belarus Business Forum


Also, it is necessary to strengthen inspection, monitor and correct disciplines, strictly handle disciplinary cases, rectify style of conduct of officials, tax officials, and uplift service attitude of people and businesses. In terms of customs, institution of policy and reform will be established. Economic experts believe that despite having many positive site bring favorable conditions for production and business of enterprises, Vietnam enterprises still face weak competitiveness. State-owned enterprises and FDI enterprises are having positive recovery, while private enterprises, especially medium and small ones, coup with difficulty. Thus, there is a need of having support policies on creating conditions for enterprises.

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