Vietnam’s efforts to improve its business environment remain inconsistent, resulting in lower ranking in the World Bank’s latest Doing Business report in spite of getting a higher score, according to Nguyen Dinh Cung, director of the Central Institute for Economic Management (CIEM). Overview of the conference. Source: Ngoc Thuy. “The government has been pushing for reform, but the pace of improvements has been slow compared to other countries,” Cung said at a workshop on October 28 discussing Vietnam’s business environment in the 2016 – 2019. Cung added if improvements are measured only by year-on-year statistics and without comparison to the rest of the world, Vietnam would lack motivation to carry out reforms and fall behind others in a rapidly changing world. Nguyen Minh Thao, head of the CIEM’s Business Environment and Competitiveness Department, said over the last four years, Vietnam’s Doing Business scores have been increasing steadily, in which “strong reform efforts were acknowledged by the World Bank in 2017 when the country climbed from the 82th to 68th place, but then slipped one notch in each subsequent year to the 70th in 2019.” After four years, two areas which saw major improvements are “Getting electricity”, rising 69 places… Read full this story
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