Tuesday, August 21 2018

VietNamNews

Business community voices suggestions to improve business climate

Update: January, 08/2018 - 15:25
Prime Minister Nguyễn Xuân Phúc (right) meets with business representatives at the 2017 twin dialogue between the Prime Minister and the business community in Hà Nội. – Photo thanhnien.vn
Viet Nam News

HÀ NỘI — The Vietnam Chamber of Commerce and Industry (VCCI) reported that it had passed 1,152 petitions from the business community to relevant State agencies as of the end of November 2017.

Of these, 954 had received replies. The information was released in VCCI’s latest document on last year’s outcome of the implementation of the government’s Resolution 35/NQ-CP on business assistance and development by 2020. 

The report said the businesses’ concerns mostly revolved around administrative reform, including tax and customs procedures, and environmental inspection. Firms also complained that a number of inspections were not needed or were unnecessarily prolonged, causing a waste of time and money for enterprises. Many regulations were complicated and overlapped among different ministries and sectors. 

They asked the State to improve the performance of funds for the development of science-technology, and small- and medium-sized enterprises. They also called for a frequent review of conditional business sectors, in line with the Investment Law. 

The business community voiced its hope for equal access to resources and business opportunities, and asked for the serious consultation of experts and target subjects during the process of drafting and implementing laws and policies. 

The community proposed measures to reduce business costs, including a suitable interest rate, reduction of land leasing prices, fees at some BOT (build-operate- transfer) projects, and logistic costs. 

A number of comments asked for the protection of businesses’ rights during bankruptcy procedures and at civil courts, while calling for higher fines to crack down on unhealthy competition, patent violations and illegal inspections. 

VCCI Chairman Vũ Tiến Lộc said authorities at different levels handled concerns from the business community faster than they did in 2016, particularly after the issuance of a Prime Minister’s direction on pushing the implementation of Resolution 35. 

According to the report, the State Bank, the ministries of Finance, Construction, Transport, Planning and Investment and Industry and Trade, and the people’s committees of Hà Nội and Thừa Thiên – Huế were among the agencies that provided the most prompt and effective feedback to firms’ requests. — VNS

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