Enterprises want greater reforms to support recovery
Businesses are gearing up for post-pandemic recovery. — VNA/VNS Photo Thanh Liêm
Enterprises expect greater reforms to truly create a favourable business environment, according to the Việt Nam Chamber of Commerce and Industry (VCCI).
VCCI’s recent report about business law flow 2021 revealed a paradox that while the Government was required to reduce compliance costs for enterprises, there were some policies being drafted that might push up costs and cause difficulties for firms.
“This makes the business environment improvement effort inconsistent and inefficient,” the Head of the VCCI’s Legal Department Đậu Anh Tuấn said.
The report pointed out that a majority of the business community expected the Government to remove and amend regulations about business lines that required prerequisites mentioned in the Investment Law 2020, together with the abolishment of other regulations which were causing difficulties for businesses.
Tuấn said that many drafted regulations were raising concerns that these policies would cause an additional cost burden on businesses, especially when many of them were in difficulty due to the prolonged impact of the COVID-19 pandemic.
Trần Hoàng Yến from the Việt Nam Association of Seafood Exporters and Processors (VASEP) said that seafood processing plants were facing problems related to meeting the National Technical Standard QCVN 11-MT:2015/BTNMT about wastewater.
She pointed out that too high standards affected not only domestic production but also exports of the seafood industry.
The Ministry of Natural Resources and Environment was drafting amendments to this standard but it seems that the draft was stricter, worrying seafood companies, Yến said, adding that the standard must be suitable with reality, the specifics of the industry and compatible with the wastewater treatment technology capacity.
According to Hoàng Hải Anh, deputy president of the Việt Nam Association of Securities Business, new trends in the market should be put into careful consideration to avoid being left behind, such as the application of artificial intelligence in securities investment.
The latest updates of the General Statistics Office showed that nearly 35,000 new firms were founded in the first quarter of this year, representing a rise of nearly 18 per cent against the same period last year, which reflected the recovery of businesses.
Besides post-pandemic economic stimulus packages, business environment improvement was what the business community expected the most, VCCI pointed out.
Most ministries developed plans to reduce compliance costs for enterprises with the goal of cutting at least 20 per cent of the costs to comply with the existing laws.
However, some proposals would cause more difficulties while some new policies were erecting new barriers for businesses, according to VCCI.
VCCI’s chairman Phạm Tấn Công said it was necessary to remove bottlenecks in the flow of business laws to ensure the circulation of economic activities. Careful research and evaluating the impact of policies were also of great importance to have timely policy responses and prevent negative impacts, Công said.
Nguyễn Minh Thảo from the Central Institute for Economic Management said that Việt Nam’s institutions encouraging innovations were not attractive enough as they would face a number of problems when implementing new business ideas.
Reforms should never be stopped, she said, adding that reforms should make Việt Nam not only better but also keep up with new development trends. — VNS
Related News

Researching and proposing amendments to 2014 Customs Law to meet the requirements of innovation
11:18 | 20/01/2025 Customs

Flexible and proactive when exchange rates still fluctuate in 2025
11:03 | 30/12/2024 Finance

Enterprises focus on Tet care for employees
18:59 | 22/12/2024 Headlines

Numerous FDI enterprises face suspension of customs procedures due to tax debt
09:57 | 18/12/2024 Anti-Smuggling
Latest News

Embracing green exports: a pathway to enter global supply chains
10:33 | 20/02/2025 Import-Export

New policy proposed to prevent transfer pricing, tax evasion of FDI enterprises
10:32 | 20/02/2025 Import-Export

Việt Nam’s durian exports to China plummet by 80%
16:18 | 19/02/2025 Import-Export

Coconut exports reach 14-year high
15:29 | 18/02/2025 Import-Export
More News

Shrimp exports grow in the first month of 2025
15:28 | 18/02/2025 Import-Export

Rice export prices drop, but decline expected to be short-term
08:10 | 17/02/2025 Import-Export

Key agro products expected to maintain export growth this year
08:08 | 17/02/2025 Import-Export

EU issues 12 warnings against Việt Nam’s food and agricultural exports
08:07 | 17/02/2025 Import-Export

Việt Nam to impose VAT on low-value express-imported goods
08:06 | 17/02/2025 Import-Export

Exchange rate risks need attention in near future
16:31 | 15/02/2025 Import-Export

Vietnam kicked off the year with a strong start in trade, exceeding US$63 billion in the first month
16:30 | 15/02/2025 Import-Export

Import and export turnover reaches about US$29 billion in the second half of January 2025
14:52 | 14/02/2025 Import-Export

Market edges up slightly as liquidity remains low
14:48 | 14/02/2025 Import-Export
Your care

Embracing green exports: a pathway to enter global supply chains
10:33 | 20/02/2025 Import-Export

New policy proposed to prevent transfer pricing, tax evasion of FDI enterprises
10:32 | 20/02/2025 Import-Export

Việt Nam’s durian exports to China plummet by 80%
16:18 | 19/02/2025 Import-Export

Coconut exports reach 14-year high
15:29 | 18/02/2025 Import-Export

Shrimp exports grow in the first month of 2025
15:28 | 18/02/2025 Import-Export