Survey: Vietnam business environment improves

Vietnam’s businesses environment has been remarkably improved, said the Vietnam Chamber of Commerce and Industry (VCCI) in its Vietnam Business Annual Report 2010 released in Hanoi on March 28.

Last year, Vietnam jumped 10 places to rank 78^thamong 183 countries worldwide in term of favourable business environment and ranked fourth in the list of 10 countries credited with the most successful reforms in the business climate, the report said.

The country maintained its economic growth rate at 6.78 percent with its export revenue increasing by 25.5 percent over 2009.

The improvement was due to the government’s great efforts, including those made during the implementation of Project 30 on administrative reform, said VCCI Chairman Vu Tien Loc.

The overhaul of the legal environment with major changes in market accession and business administration, especially in business registration, has contributed to improving the country’s environment, Loc said.

By the end of 2010, the number of newly registered enterprises rose to 544,394 above the government’s target, Loc noted.

The report, however, pointed out a number of negative impacts on business performance in 2010, including high bank interest rates, consumer price index (CPI) and inflation, inadequate infrastructure, traffic systems and water and waste treatment system facilities, and power shortages.

Tags: Vietnam business environment