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Việt Nam aims to improve economic competitiveness

Update: December, 24/2019 - 10:00

 

Nguyễn Thị Minh Thảo, head of the Department of Business Environment and Competitiveness under the Việt Nam Central Institute for Economic Management. — Photo baodautu.vn

Nguyễn Thị Minh Thảo, head of the Department of Business Environment and Competitiveness under the Việt Nam Central Institute for Economic Management talks to Vietnam News Agency on Việt Nam's efforts to improve its economy

What are the key factors that have helped Việt Nam gain a high ranking position in the 2019 global competitiveness report?

This year was the first time Việt Nam gained 10 steps in the Global Competitiveness Report. Việt Nam has improved in eight out of the 12 main columns. This is an indication the country has done quite well in its efforts to become a futuristic and productive economy.  

Gaining high ranking in global competitiveness is an indication that economic reform has had big success.

What has driven Việt Nam's success in the last few years?

In the last few years, the task of improving the business environment has become a pivotal task of the Vietnamese Government. Việt Nam has scored some major breakthroughs in the reform of business conditions. By now, up to 50 per cent of business conditions have been either slashed or simplified. Pretty soon the Prime Minister will sign a few decrees to facilitate conditions for further business development, particularly on online public services.

Will you please give us some detail about Việt Nam’s ranking by the World Business Forum?

In the ranking of the World Business Forum, Việt Nam got eight indicators which have gained both in points and in rankings.  

However, the indicator for the life expectancy of the Vietnamese people has dropped three spots.

Regarding the indicator for the business environment in 2019, Việt Nam lost one point in the ranking. As a consequence, Việt Nam was placed behind Thailand, Indonesia and Brunei in the business reform.

Has the low ranking in the World Business Forum become a barrier for Việt Nam in its efforts to gain economic achievements?

I couldn't agree more! The low ranking does help Việt Nam recognise its strong and weak points and what it should do to overcome them.

If Việt Nam doesn’t create a favourable business environment, no doubt enterprises and investment activities will be affected. As a consequence, the growth of the national economy will be harmed.

Besides, market and infrastructure development have both directly affected national production and business operation. Last but not least, to help Việt Nam gain a high economic growth rate, it also depends very much on the competitiveness of the enterprises – from both Vietnamese and foreign enterprises.

What should the Government do to improve the business environment and raise national competitiveness?

The Government has adopted many measures to facilitate business development and to help enterprises improve their competitiveness. The first thing the Government should do is improve the business environment in the course of national reform.

One of the very important conditions for business development is the application of IT in all transactions between State management agencies and enterprises.

Last but not least is the improvement of the skills for working people - a very important element in the tough competitive environment in Việt Nam and internationally. — VNS

 

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