Vietnam makes bold step to improve business climate: VCCI report

Vietnam’s business and investment climate is showing marked improvements following sustained reform efforts, with enhanced access to business-related information and regulations, reduced unofficial costs, and effective administrative reforms, according to the latest survey by the Vietnam Chamber of Commerce and Industry (VCCI).

0321-web-header-1200x628p-cna-nnu-25-0.png
Photo: Illustration

So far this year, the business community has witnessed positive policy shifts from regulatory bodies, with the government actively addressing outdated regulations and streamlining administrative procedures. However, enterprises have higher expectations on the reforms and resolve to handle the bottlenecks of the regulations.

One major concern remains fire safety regulations, including specifications for fire-resistant paint, fire resistance ratings, fire separation distances, and water supply system having creating significant obstacles for businesses. Many completed buildings remain unused due to the requirements, resulting in substantial losses for firms and society.

Dialogues have been held between state management agencies and associations and businesses to revise the law on fire prevention and fighting to remove roadblocks for them.The transit cargo regulations have challenged the logistics sector as well. According to Chairman of the Vietnam Logistics Business Association Dao Trong Khoa, Vietnamese transport companies have faced penalties for violations of transit cargo regulations although they are not allowed to verify the contents of the cargoes while the goods’ information in the customs declaration is provided by their partners.Environmental protection fees for emissions present another obstacle, with potential overlaps with the environmental protection law.

VCCI Deputy Secretary General and head of the chamber’s Legal Department Dau Anh Tuan said that while economic tools are crucial for environmental protection, businesses already face multiple environmental obligations, including solid waste, wastewater, and hazardous waste fees. Vietnam has enacted the environmental protection tax law, which levies taxes on petroleum and coal, the primary fuels responsible for emissions.

Current environmental protection laws stipulate the issuance of environmental permits, which include provisions regarding the quantity and quality of emissions as well as automatic and periodic monitoring measures.Most businesses have complied with these obligations, enabling government agencies to gather sufficient data to impose taxes on emissions rather than taxing input fuels, he said.

Tuan added that although competent ministries and sectors have reviewed and built measures to reduce and simplify various business – related requirements over the recent three years, they have not met businesses’ expectations. He expressed his hope for continued reform efforts to address investment barriers and business constraints.

Economy

Binh Dinh seeks German investment in offshore wind power project
Economy

Binh Dinh seeks German investment in offshore wind power project

The central province of Binh Dinh always create favourable conditions for investor to explore opportunities and invest in the locality, the provincial Party Secretary Ho Quoc Dung said during a working session with Helga Margarete Barth, German Ambassador to Vietnam, and representatives from the German Chamber of Commerce and Industry in Vietnam (AHK Vietnam), and PNE Group on October 30.

Vietnam, Laos step up trade, tourism promotion
Economy

Vietnam, Laos step up trade, tourism promotion

A Vietnam-Laos trade fair was kicked off in Phonsavanh township in Xiengkhouang province of Laos on October 23 as part of activities to celebrate the 75th anniversary of the traditional day of Vietnamese volunteer soldiers and experts in Laos (October 30, 1949 – 2024).

Bamboo Airways to resume int'l flights from November
Economy

Bamboo Airways to resume int'l flights from November

Bamboo Airways will officially resume international flights on November 26, starting with one round-trip flight per day on the direct route between Tan Son Nhat International Airport in Ho Chi Minh City and Don Mueang International Airport of Bangkok, Thailand.