European business leaders in Vietnam are more optimistic about the country’s business environment following the ending of lockdowns and the ‘new normal’ of post-pandemic trade and investment.
With 70.36 out of 100 points in the provincial competitiveness index, Quang Ninh shows the best business environment in Vietnam, followed by Dong Thap, Long An and Ben Tre.
Joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership offered Vietnam enormous challenges, which called for the determination and effort of the entire society to overcome and make full use of the benefits it brought about, according to high profile banking expert, PhD. Nguyen Tri Hieu.
Vu Tien Loc affirmed that over the past years, the reform of Vietnam business environment and the implementation of free trade agreements have created breakthroughs but the spillover of foreign direct investment (FDI) is still very low.
According to Dr. Nguyen Duc Thanh, the current draft law on Special Administrative-Economic Units has failed to do the single most important thing which is to create breakthroughs in the business environment and administrative institutions.
The Australian $6.5 million program is expected to assist Vietnam’s government in achieving business environment and bringing Vietnam closer to the market economy.
Promoting the intellectual property rights enforcement is not making more money for large companies but improving the business environment in Vietnam, according to an AmCham executive.
Vietnam addressing obstacles related to legal issues and business environment will be the positive signs in the preparation and implementation of the EU-Vietnam Free Trade Agreement (EVFTA).
Prime Minister (PM) Nguyen Xuan Phuc hosted the representatives of foreign enterprises, including Zuellig Pharma Ltd. on July 9th, listened to their reflections and collected their ideas for a healthier business environment in Vietnam.
The business law system of Vietnam has recently made positive changes, creating a favorable business environment for enterprises. However, besides these positive moves, the legal system still exists many "barriers" that make the realization of "business freedom" meet many challenges.
Notable improvements have been made to tax and admin procedures a year since the PM's first official meeting with local businesses.
