Foreign Firms Urge Vietnam to Simplify Administrative Procedures

Representatives of foreign business associations have urged the Vietnamese government to speed up its administrative reform to improve the investment environment. 

 

The Saigon Times Daily newspaper reported that at a recent meeting between the Vietnam Chamber of Commerce and Industry (VCCI) and foreign business associations in Hanoi, President of the European Chamber of Commerce (EuroCham) Alain Cany said, such reform is a vital but challenging task for the country.

 

The country is facing risks of losing its competitive edge due to complicated administrative procedures, Cany said, adding that an ineffective administrative system can help companies save between 20% and 30% of costs.

 

President of the Japanese Business Association in Vietnam Kazuhiro Ohira said the most important thing for Vietnam now is to create a more complete and stable legal system. (STD)