Enhancing business environment reform

Updated: 16:13, 08/02/2021

As expected, Resolution No.02/NQ-CP on continuing to implement the major tasks and solution to improve the business environment and national competitiveness was issued by the Government in the first day of the year 2021.

However, this year’s resolution was condensed into three pages,instead of the 10 or 20 pages as in previous years.

Business environment should be reformed drastically.

The reason for this change was that the Resolution No.02 in 2019 built an annual roadmap for the whole 2019-2021 period.Therefore, the Resolution No.02 in 2021 only added four new focus groups of solution to promote the business environment reform. Firstly, it is essential to enhance the coordination and connection among agencies in State management and settlement of obstacles, shortcomings and legal barriers for business and investment. Secondly, the relevant agencies should focus on directing the implementation of tasks and solutions related to digital transformation and increasing the readiness to adapt to new production in the fourth industrial revolution. Thirdly, the implementation of the goals of sustainable development should be strengthened, focusing on environmental protection, combating climate change, and creating jobs for vulnerable groups. Lastly, the State agencies should pay strong attention to supporting people and enterprises to restore production and business and overcome the negative impacts of the Covid-19 epidemic.

The country's economic reform process has come a long way under the companionship of the Australia Supports Economic Reform in Vietnam (Aus4Reform) programme, with encouraging results from the implementation of the Resolution No.19 and, later, Resoltuion No.02 issued by the Government every year. The resolutions have received drastic leadership and direction from the party committees, authorities, and unions at all levels as well as the. response of the business community and the whole society. As a result, the socialist-oriented market economic institution has been progressed a further step and many obstacles and difficulties for the enterprises and people have been overcome. However, compared to the practical development requirements, the achieved results are not enough to spark creativity and resources in the society. Sometimes,business conditions are still "regenerated" or "transformed" in the form of certificates, industry standards and regulations. In addition, there are still many unnecessary, unreasonable, and unclear business conditions that may lead to the discretion of the state management agencies. In the context that the country needs to spend all resources on growth and improving the resilience of the economy while facing the Covid-19 pandemic, the reform of the business environment should be exploited.

In order to create a favourable business environment for the development of production and business, it is necessary to drastically implement measures to reduce barriers for market entry, protect the rights of people and businesses to freely do business. It is also crucial to innovate the law-making process towards transparency and professionalism as well as to protect property ownership and intellectual property rights and promote creative industry. An effective mechanism for resolving contractual disputes should be formed. In doing so, Vietnam can achieve the set target of entering the top 4 in ASEAN in terms of business environment.

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