Business boom after reforms: VCCI Chairman
Updated : Wednesday, February 14, 2018 10:45 AM (GMT+0700)

TheGovernment hopes to attract 135,000 new firms in 2018. Vu Tien Loc, Chairman ofthe Vietnam Chamber of Commerce and Industry (VCCI), said this was achievable,but would require quick reforms.

Vietnam plans to have 135,000 new firms in 2018 - Source:  VNA

“This is an important set infulfilling the Government’s plan of having one million efficient firms by2020”, Loc said in an interview with Vietnam News Agency. “Institutionalreforms must be sped up”, he said.

Loc said reform was stillslow and the Government’s determination for reform had not reached all localauthorities and agencies. “The most important thing is action and localauthorities and agencies must hasten reforms”.

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

Loc said the Governmentshould also promote the private sector by providing public services to helpthem develop.

“This year could be thestart of a period of reform”, Loc said, adding that businesses were puttingtrust in a constructive Government.

In a recent document toanswer queries from National Assembly deputy Nguyen Phi Thuong, Prime MinisterNguyen Xuan Phuc said that the Government would continue to focus on cuttingcosts for businesses.

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

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

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

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

Last year, Vietnam had561,000 operating firms, statistics showed.


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