The latest joint World Bank-IFC report "Doing Business 2013: Smarter Regulations for Small and Medium Enterprises” shows that Viet Nam ranked 99th among 185 economies around the world.
According to the report, Viet Nam has carried out 18 legal and institutional reforms on eight out of ten areas it had planned to do.
Recently, the country has allowed businesses self-print and issue their own invoices based on the serial numbers they get from tax office. The move helps reduce the costs for businesses incurred when buying VAT invoices. It was also part of efforts to streamlin regulations on domestic enterprise establishment for entrepreneurs’ operation.
The country was also highly valued in other procedures like granting construction licenses (ranking 28th); credit borrowing (40th); implementation of contracts (44th); asset registration (48th) as well as international trade (74th).
WB Country Director for Viet Nam Victoria Kwakwa affirmed that the WB is giving a priority to assisting Viet Nam in raising its competitiveness.
However, the report says that despite the improved business environment, Viet Nam should make greater effort in order to be equal with other regional economies./.
Source: news.gov.vn