Vietnam’s business environment sees remarkable improvement
(VOVWORLD) - More than 41,000 businesses with total investment of nearly 17.8 billion USD were established during the first 4 months of this year, heard the 2018 Vietnam Business Development Forum in Hanoi on Tuesday.
The event was hosted by the Economy and Forecast Review and the Ministry of Planning and Investment. Ms Tran Thi Hong Minh, Director of the Department of Business Registration Management Department of the Ministry of Planning and Investment said that the number of newly-established enterprises has increased dramatically in the last three years thanks to the enforcement of the Law on Enterprises and the Investment Law.
“Vietnam’s legislation on opening the market has improved. The Laws on Enterprises and Investment enable enterprises to join the market more easily with lower costs and shorter time. IT application in administrative procedures has contributed to the growing number of enterprises,” she noted.
Forum participants praised the improvement of Vietnam’s business environment and the increase of Vietnam’s business rankings. Vietnam jumped 14 places in the Doing Business 2018 ranking and 5 places in the WEF National Competitiveness Ranking.