Over 273 million USD saved annually thanks to removal of business conditions
Reductions in business conditions and related administrative procedures have helped save about 18 million workdays, or 6.3 trillion VND (273.4 million USD), each year, Minister and Chairman of the Government Office Mai Tien Dung said.
Minister and Chairman of the Government Office Mai Tien Dung speaks at the national teleconference between the Government and localities on December 28 (Photo: VNA)
Hanoi (VNA) - Reductions in business conditions and relatedadministrative procedures have helped save about 18 million workdays, or 6.3trillion VND (273.4 million USD), each year, Minister and Chairman of theGovernment Office Mai Tien Dung said.
At a national teleconference between the Government and localities onDecember 28, he said an additional 239 business conditions have been abolishedthis year.
During 2016-2020, the country removed 3,893 of its 6,191 businessconditions, 6,776 of 9,926 commodities subject to specialised inspection, and30 administrative procedures related to specialised checks. It also handled1,501 items subject to overlapping specialised examination.
Such efforts by ministries, agencies, and localities have greatlycontributed to Vietnam’s improved positions in international rankings, Dungsaid.
The country ranks 70th among 190 economies in the World Bank’sDoing Business report, jumping 20 places between 2016 and 2020; 67th among 141 countries in the Global Competitiveness Report, up 10 places in2018-2019; and 42nd among 131 economies in the Global InnovationIndex and first among 29 countries with the same income level in the Index.
In terms of e-Government building, he added, the Government and thePrime Minister have issued many legal documents, programmes, strategies, andplans to provide a legal corridor for the building of e-Government towards adigital Government, economy, and society.
In the UN’s E-Government Development Index 2020, Vietnam was in 86th position among 193 countries and territories, up two places from 2018. It hascontinually secured higher rankings between 2014 and 2020, from 99th to 86th. The country has been listed among countries with high levelsof e-Government development and higher than the global average, the officialnoted./.
Vietnam ranked 42nd among 131 economies for the second consecutive year in the 2020 Global Innovation Index (GII), the World Intellectual Property Organisation (WIPO) has announced.
Reforms of checks on imported products will help improve the business climate while reducing time and costs, which will give significant room for growth, Minister and Chairman of the Government Office Mai Tien Dung has said.
In recent times, thousands of business conditions, product categories subject to customs checks, and administrative procedures have been cut and simplified in accordance with Government Resolution 68, facilitating production and business activities, significantly contributing to improving the investment and business environment and national competitiveness.
Prime Minister Nguyen Xuan Phuc on December 25 urged the Government Office to better its consulting role to the PM and the Government, firstly in preparations for the 13th National Party Congress.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Minister and Chairman of the Government Office Mai Tien Dung speaks at the national teleconference between the Government and localities on December 28 (Photo: VNA) 
