Hanoi (VNA) - The Government hopes to attract 135,000 new firms in 2018.Vu Tien Loc, Chairman of the Vietnam Chamber of Commerce and Industry (VCCI),said this was achievable, but would require quick reforms.

“This is an important set in fulfilling theGovernment’s plan of having one million efficient firms by 2020,” Loc said inan interview with Vietnam News Agency. “Institutional reforms must be sped up,”he said.

Loc said reform was still slow and the Government’sdetermination for reform had not reached all local authorities and agencies.“The most important thing is action and local authorities and agencies musthasten reforms.”

Besides, he said it was critical to improve thebusiness climate and national competitiveness as well as simplifying checkingprocedures for imports and exports.

Loc said the Government should also promote theprivate sector by providing public services to help them develop.

“This year could be the start of a period ofreform,” Loc said, adding that businesses were putting trust in a constructiveGovernment.

In a recent document to answer queries fromNational Assembly deputy Nguyen Phi Thuong, Prime Minister Nguyen Xuan Phucsaid that the Government would continue to focus on cutting costs forbusinesses.

The Government said that administrative reform inland, tax, customs, agriculture, rural development, information technology andstart-up would be enhanced.

The Government also planned to createbreakthroughs in business-climate indicators and economic competitiveness andlisten to firms and their difficulties.

Support would also be provided to promotestart-ups, small and medium sized enterprises, co-operatives and businesshouseholds as well as create a fair playing ground for all participants.

The number of new firms set record highs in thelast two years. In 2017, more than 126,800 new firms opened, exceeding therecord of 110,000 new firms in 2016.

Last year, Vietnam had 561,000 operating firms,statistics showed. - VNA