Nguyen Thi Minh Thao, leading the Business Environment and Competitiveness Research Department at the Central Institute for Economic Management (CIEM), underscored a critical need for comprehensive enhancements in Vietnam’s business landscape even as she emphasised that ministries, sectors, and localities must significantly bolster the business environment, streamlining reforms to amplify efficiency.

This is as per media reports, which added Thao stressed that augmenting the business environment should intertwine with the accountability of organisational leaders while the deputy minister of Planning and Investment, Tran Duy Dong, acknowledged the challenges faced by the businesses in the current year.

Recognising these challenges, the government had issued Resolution 02 on January 5, aiming to catalyse reform efforts, which mandates a concerted focus on rectifying legal inadequacies in investment project implementation, refining the list of conditional business investment industries, and enhancing the national single-window information portal.

Meanwhile, Nguyen Thi Minh Thao views this resolution as pivotal, energising the business community while pressuring governmental bodies to enact changes vital for socio-economic progress.

She advocated for active participation from business associations to identify challenges and devise appropriate solutions, a sentiment echoed by Dau Anh Tuan from the Vietnam  Chamber of Commerce and Industry (VCCI).

Resolution 02 prioritises bolstering the capacity and competitiveness of domestic private enterprises to foster growth and curb market exits even as it lays stress on proactive dialogues between businesses, VCCI, and relevant stakeholders to refine legal frameworks while experts believe the success nevertheless hinges on meticulous policy enforcement and continual institutional reform.

Authorities must not only trim business costs but also fortify infrastructure, human resources, and domestic industrial production, they held.

Fibre2Fashion News Desk (DR)

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