Vietnam Business Environment Still Below Average: Survey
Vietnam’s business environment is still rated below average despite slight improvement from last year, according to a recent survey released at the Vietnam Business Forum (VBF) in Hanoi.
In spite of an improved score of 2.52 points compared to 2.28 points last year, Vietnam’s business environment in 2010 is just rated “acceptable” in the valuation ladder of four rungs of “excellent,” “good,” “acceptable” and “poor”.
The survey covering 227 local and foreign businesses also showed that most of them expect that the business environment will be improved next years and 75% of them say they will expand their business in Vietnam next three years.
However, many representatives of business associations raise their concerns in the forum designed as an on-going dialogue between the government and the business community to develop a favorable business environment.
“It takes six months for foreign investors to get a license in Vietnam, while they just spend five or six weeks for the license in other countries in the region. It’s not only a waste of time but also a money matter,” Chairman of the Eurocham Alain Cany said.
He said that European enterprises were pleased with Project 30 initiated by the government with a commitment to simplify 258 administrative procedures, but circulars issued recently were neutralizing that effort.
Besides the above concern, a series of other challenges in the business environment were also mentioned, including intellectual property protection, the fight against production and trade of copycats, and development of human resource and infrastructure.
Vietnamese Minister of Planning and Investment Vo Hong Phuc made a commitment at the forum that the government will make efforts to solve these problems. (STD)
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