The Government hopes to attract 135,000 new firms in 2018. Vu Tien Loc, chairman of the Viet Nam Chamber of Commerce and Industry (VCCI), said this was achievable, but would require quick reforms. “ This is an important set in fulfilling the Government’s plan of having one million efficient firms by 2020,” Loc said in an interview with Viet Nam News Agency. “Institutional reforms must be sped up,” he said. Loc said reform was still slow and the Government’s determination for reform had not reached all local authorities and agencies. “The most important thing is action and local authorities and agencies must hasten reforms.” Besides, he said it was critical to improve the business climate and national competitiveness as well as simplifying checking procedures for imports and exports. Loc said the Government should also promote the private sector by providing public services to help them develop. “This year could be the start of a period of reform,” Loc said, adding that businesses were putting trust in a constructive Government. In a recent document to answer queries from National Assembly deputy Nguyen Phi Thuong, Prime Minister Nguyen Xuan Phuc said that the Government would coninue to focus on cutting costs for businesses. The Government said that administrative reform in land, tax, customs, agriculture, rural development, information technology and start-up would be enhanced. The Government also planned to create breakthroughs in business-climate indicators and economic competitiveness and listen to firms and their difficulties. Support would also be provided to promote start-ups, small… [Read full story]
Frog farmer jumping for joy as Mekong business booms (20-09-2008) Khoa holds a couple of two-year-old frogs that can fetch between VND25,000 ($1.5) and 30,000 ($1.8) per kilo in the local market. — VNS Photo Hoang Vu by Le Hoang Vu VINH LONG — Nguyen The Khoa has become the toast of the Cuu Long (Mekong) Delta province of Vinh Long by becoming the first farmer to earn huge profits from breeding frogs. The resident of Tan Quoi Hamlet in the province's Tan Hoa Commune records gains of over VND500 million (US$30,303) per year. The 54-year old millionaire is willing…... [read more]
The Hanoitimes - The Swiss delegation led by Swiss Minister of State for Economic Affairs Marie-Gabrielle Ineichen Fleisch visited Hanoi Department of Planning and Investment on October 11 during its working visit to Vietnam. Vice Chairman of the municipal People's Committee Nguyen Doan Toan received the Swiss delegation. Vice Chairman of the municipal People's Committee Nguyen Doan Toan receives the Swiss delegation led by Minister of State for Economic Affairs Marie-Gabrielle Ineichen Fleisch. At the meeting, Marie-Gabrielle Ineichen Fleisch highly appreciated the efforts made by the Vietnamese Government in general and Hanoi in particular in improving the business environment and…... [read more]
Talking Shop (25-12-2008) Business registration reform key for growth Viet Nam News reporter Thu Tra spoke to UNIDO Viet Nam representative Nilgun Tas about the project. A bureaucratic business registration process has long been a headache for enterprises in Viet Nam. How will the project help solve the problem? Viet Nam-UNIDO co-operation on business registration reform aims to improve the business climate for private sector development and to enhance the competitiveness of Vietnamese enterprises by lowering the cost of doing business. Business registration reform will drastically decrease the time and out-of-pocket costs of market entry. At the same time, reform…... [read more]
More than 80,800 enterprises entered into or returned to Vietnam’s business scene in the first seven months, with the sectors of real estate and healthcare seeing the most impressive increases in new companies. In July alone, the country has more than 9,600 startups and 1,800 enterprises getting back into business. The startups in the first seven months have total registered capital of VND497 trillion (US$22.2 billion), up 23.3% and 54.7% year-on-year, respectively. In comparison, this time last year the increases were 22.7% and 22.4%. Additional capital of existing companies was much higher than the combined registered capital of new businesses,…... [read more]
Norway and the United Nations Industrial Development Organization (UNIDO) will fund US$5.2 million to help Vietnam accelerate business administration reform, according to the Norwegian Embassy in Vietnam. Under an agreement signed Thursday, Norway will grant $4.2 million and UNIDO $1 million to the first stage of a technical assistance project. The $9 million project, to last until 2011, will help Vietnam develop a system of business registration-related information and train office personnel in 63 provinces and cities. The project is also expected to help reduce the time and cost of business registration procedures. In addition, a web-based information distribution system…... [read more]
