Vietnam Climbs 14 Steps in World Bank’s Doing Business Rankings, Surpassing China

Tuan Minh

14:34 01/11/2017

BizLIVE - The Vietnamese government is striving to improve the business environment to unlock potential of domestic businesses and attract foreign investment.

Vietnam Climbs 14 Steps in World Bank’s Doing Business Rankings, Surpassing China

The Vietnamese government is striving to improve the business environment.

Vietnam has moved up 14 notches in the World Bank’s latest Doing Business rankings as the Vietnamese government is striving to unlock potential of domestic businesses and attract foreign investment.
The report marks Vietnam as the 68th places out of 190 economies globally to do business, ahead of major economies in the East Asia-Pacific region, such as Indonesia (72nd) and China (78th), but behind Singapore (2nd), Malaysia (24th), Thailand( 26th) and Brunei (56th).
According to the report, Vietnam and Indonesia have implemented the most reforms in the past 15 years, with 39 reforms each. Today, an entrepreneur in Ho Chi Minh City spends 22 days and 6.5% income per capita registering a new company, compared to 61 days and 31.9% in 2003.
This year, the World Bank recognized Vietnam has made five reforms to Getting Electricity, Getting Credit, Paying Taxes, Trade across Borders, and Enforcing Contracts.
In the Doing Business 2017 report, Vietnam climbed nine steps to 82, with three reforms made to Protecting minority investors, Paying taxes, and Trading across borders.

 

TUAN MINH

Từ khóa: Vietnam, World Bank

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