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Business boom after reforms: VCCI chairman

Update: February, 13/2018 - 09:00
Việt Nam plans to have 135,000 new firms in 2018. — VNA Photo
Viet Nam News

HÀ NỘI — The Government hopes to attract 135,000 new firms in 2018. Vũ Tiến Lộc, chairman of the Việt Nam Chamber of Commerce and Industry (VCCI), said this was achievable, but would require quick reforms.

“ This is an important set in fulfilling the Government’s plan of having one million efficient firms by 2020,” Lộc said in an interview with Việt Nam News Agency. “Institutional reforms must be sped up,” he said.

Lộc said reform was still slow and the Government’s determination for reform had not reached all local authorities and agencies. “The most important thing is action and local authorities and agencies must hasten reforms.”

Besides, he said it was critical to improve the business climate and national competitiveness as well as simplifying checking procedures for imports and exports.

Lộc said the Government should also promote the private sector by providing public services to help them develop.

“This year could be the start of a period of reform,” Lộc said, adding that businesses were putting trust in a constructive Government.

In a recent document to answer queries from National Assembly deputy Nguyễn Phi Thường, Prime Minister Nguyễn Xuân Phúc said that the Government would coninue to focus on cutting costs for businesses.

The Government said that administrative reform in land, tax, customs, agriculture, rural development, information technology and start-up would be enhanced.

The Government also planned to create breakthroughs in business-climate indicators and economic competitiveness and listen to firms and their difficulties.

Support would also be provided to promote start-ups, small and medium sized enterprises, co-operatives and business households as well as create a fair playing ground for all participants.

The number of new firms set record highs in the last two years. In 2017, more than 126,800 new firms opened, exceeding the record of 110,000 new firms in 2016.

Last year, Việt Nam had 561,000 operating firms, statistics showed. — VNS


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