Business environment improvement requires concrete targets

March 03, 2015 | 09:31

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Improving business environment and national competitiveness requires specific targets and solutions, stressed PM Nguyen Tan Dung at the Cabinet’s meeting held on Monday.

PM Nguyen Tan Dung chairs the Cabinet meeting on Monday - Photo: VGP

“We must figure out what to achieve in 2015 and where we are in 2016”, the Government chief said.

He tasked inferior levels to review their performance every month and compare outcomes with other countries to design next proper solutions.

In this spirit, the Cabinet members deliberated on a draft resolution on key tasks and solutions to improve business environment and national competitiveness in 2015, which will detail assignments of each ministry, agency and locality.

Specifically, the Government planned to reduce time required for tax payment down to 121.5 hours from the current 247 hours and the time required for social insurance premium payment to 49.5 hours from the current 235 hours.

By the end of 2015, the time required for carrying out customs procedures for exports and for business establishment is expected to be 13 days and six days, respectively. Businesses can access to electricity within 36 days instead of the current 70 days.

The Government also expects to improve the business environment index to the average level of ASEAN-4 countries (Singapore, Malaysia, Thailand, and the Philippines) in 2016 in terms of business start-up, electricity access, protection of investors, customs, tax and insurance payment, granting of construction certificates, credit access, trade dispute settlement among others.

Obtaining the above targets demands more drastic institutional, policy, administrative procedure reforms, according to the draft resolution.

Other solutions enshrined in the draft resolution include staff training and extensive application of information technology in State agencies.

VGP

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