Vietnam improves nine steps in Business Environment: WB

(VNF) - Economies of the East Asia and Pacific region are steadily making progress to ease the process of doing business, finds the WB’s annual ease of doing business report.

“Doing Business 2017: Equal opportunity for all” report, released on October 25th, finds that over two-thirds of the region’s 25 economies implemented 45 reforms in the past year to make it easier to do business, compared to 28 reforms the previous year.

Four economies in the East Asia and Pacific region rank among the top 10 economies globally in the rankings. The top-ranked economies are New Zealand (at 1), followed by Singapore (2), Hong Kong SAR, China (4) and the Republic of Korea (5).

Vietnam has climbed nine steps in the report. It has achieved the 82th position in the 190 economies-list, as the Government strives to make the country’s investment climate more attractive.

In addition, the Government made trading across borders easier by implementing an electronic customs clearance system. Progress was recorded when it comes to protecting minority investors.

Notably, two economies from the region, Brunei Darussalam and Indonesia, are among this year’s top 10 improvers in the world.

“New reforms tackling multiple barriers to business in the East Asia and Pacific region are the stepping stones to enhance business activity. Despite marked improvements, economies in the region still have improvements to make in order to ease the business climate for local entrepreneurs,” said Rita Ramalho, Manager Doing Business Report.

However, the Bank showed that Vietnam made starting a business more difficult by requiring entrepreneurs to receive approval of the seal sample before using it./.

( VNF )