To facilitate enterprise competitiveness

At recent Vietnam Business Forum 2015 on enhancing enterprise competitiveness for global integration co-held by World Bank and Ministry of Planning and Investment, Minister of Planning and Investment Bui Quang Thanh informed that Vietnam has signed some free trade agreements (FTAs). On joining FTAs, domestic enterprises, aside from opportunities, have to face up challenges and drawbacks of competitiveness. Vietnam is determined to open up and call for foreign investments while promoting institution reforms and fulfillment of legal framework and constant improvement of investment and business quality. For the time to come, the government, ministries, and localities will facilitate corporate engagement in private and public partnership (PPP) economic development.

Delegates at the forum asserted that anti-corruption, anti-wastefulness and preparation for enterprises to integrate into the world economy have been troubling. Meantime, despite refined business institutions, the implementation has been weakly made. Besides, the competitiveness of the economy is still limited.

According to President of Vietnam Chamber of Commerce and Industry Vu Tien Loc, the recent survey of administrative reforms of tax and customs administration showed that the bigger the private enterprises are, the larger their administrative expenses would be. The larger and more successful the enterprises are, the more inspection they would face. Nonetheless, newly incorporated enterprises tend to shrink in size comparing to the past.

Reported by K.T – Translated by Vi Bao