Premier calls for efforts to improve Vietnam’s business environment in 2015

The new resolution, which will be based on the Government’s Resolution 19/NQ-CP in the field, will clarify tasks to be done by ministries, sectors and localities to improve the business climate in 2015, the PM said at a monthly cabinet meeting in Hanoi on Tuesday.

All the agencies must consider improving the business environment one of the key tasks that will help create positive changes to the economy in 2015, he said.

The cabinet leader also requested that the ongoing administrative reform be accelerated to contribute to effectively implement strategies on growth model change and economic restructuring.

“All the ministries and local authorities must consider boosting administrative reforms, improving the business environment and enhancing the economic competitiveness as the key tasks in 2015,” he said.

Minister of Planning and Investment Bui Quang Vinh told the meeting that many good achievements have been recorded after nine months of implementing Resolution 19.

The number of procedure steps to start a business has been reduced to five at present from 10 previously, Minister Vinh said.

As a result, it now takes only 16 days to complete all the procedures to start a business, instead of 34 days as before, he said.

In addition, the duration for business registration has been reduced to five days, a day less than the time limit set out by the resolution, the minister said.

He also reported that the total time for carrying out tax-related administrative procedures has been reduced by 370 hours per year to 167 hours per year now, Vinh said. 

With the good performances having been achieved in 2014, the rank of Vietnam’s business environment in the report of the World Bank may increase from the 78th among the 189 economies in October 2014 to the 56th in 2015, he added.