Vietnam moved up 14 places to rank 68th among 190 economies in the World Bank (WB)’s Doing Business 2018 report themed “Reforming to Create Jobs” (Photo VNA)
Hanoi(VNA) – Vietnam moved up 14 places to rank 68th among 190 economies in theWorld Bank (WB)’s Doing Business 2018 report themed “Reforming to Create Jobs”. In the previousreport, Vietnam jumped nine places to rank 82nd in 190 economies. Vietnam and Indonesia have implemented the mostreforms in the past 15 years, with 39 reforms each. Today, anentrepreneur in Vietnam’s southern economic hub of Ho Chi Minh City spends 22days registering a new company, compared to 61 days in 2003. The WB’s report alsoacknowledged significant improvements of Vietnam in the areas of gettingelectricity, getting credit, paying taxes, trading across borders, andenforcing contracts. “Vietnam increasedthe reliability of power supply by rolling out a Supervisory Control and DataAcquisition automatic energy management for the monitoring of outages and therestoration of service,” the report wrote. By adopting a newcivil code that broadens the scope of assets that can be used as collateral,the country also strengthened access to credit. The country also madepaying taxes easier by abolishing the 12-month mandatory carry forward periodfor VAT credit and by introducing and enhancing systems for filing and payingtaxes online. Exporting andimporting were also made easier with automated cargo clearance system andextension in the operating hours of the customs department. In addition, Vietnam,by adopting a new code of civil procedure and by introducing a consolidated lawon voluntary mediation, strengthened its regulatory environment and madeenforcing contracts easier, the report said. Doing Businesscaptures the effectiveness and quality of business regulations based on 11indicator sets, namely starting a business, resolving insolvency, enforcingcontracts and paying taxes, as well as trading across borders, protectingminority investors, getting credit and registering property, along with gettingelectricity, dealing with construction permits and labour marketregulation.-VNA
Vietnam has collected nearly 1.1 trillion VND (48.4 million USD) from forest environment service fees from water suppliers, hydropower companies and tourist agencies.
Vietnam’s business environment and competitiveness have been improved significantly over the past three years thanks to a range of solutions, according to the Ministry of Planning and Investment (MoPI).
The Vietnam Dong (VND) is among the most stable currencies in Asia this year, said the US-based Bloomberg News, echoed by similar views from Vietnamese economists who were confident that the stability would remain until the year end thanks to the economy’s positive signs.
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.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Vietnam moved up 14 places to rank 68th among 190 economies in the World Bank (WB)’s Doing Business 2018 report themed “Reforming to Create Jobs” (Photo VNA)
