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BUSINESS IN
BRIEF 17/1
3 agricultural shows to be held in HCMC
Agriculture
Hub
The
three exhibitions are HortEx
They
are expected to attract around 420 exhibitors from 35 countries and
territories, including Viet Nam, France, Belgium, Germany, Italy, the
Netherlands, the US, Japan, Canada, South Korea, China, and India.
Speaking
at a press briefing for the event last week, Nguyen Ba Vinh, director of Minh
Vi Exhibition and Advertisement Service Co Ltd (VEAS), one of the organisers,
said: “Many foreign exhibitors will come for the first time to
They
will showcase the latest services and technologies related to livestock
breeding, cultivation and agricultural machinery and equipment. The event
will also feature conferences and seminars to provide visitors with
up-to-date information about the sectors, he said.
Co-organised
along with partners from
The
event, to be held at the Saigon Exhibition and Convention Centre from March
14 to 16, is expected to attract more than 15,000 trade visitors.
Three farming shows to be held in HCM City
Agriculture
Hub
The
three shows will be HortEx
They
are expected to attract about 420 exhibitors from 35 countries and
territories, including France, Belgium, Germany, Italy, the Netherlands, the
US, Japan, Canada, South Korea, China and India.
Nguyen
Ba Vinh, director of Minh Vi Exhibition and Advertisement Service Co Ltd, one
of the organisers, said: “Many foreign exhibitors will come for the first
time to
The
event, to be held at the Saigon Exhibition and Convention Centre from March
14 to 16, is expected to attract more than 15,000 trade visitors.
Dong Nai leads in trade surplus
The
southeastern
The
country had a trade surplus of 2.7 billion USD last year equal to 2016.
Last
year Dong Nai’s export value reached 17 billion USD, up 11.8 percent against
2016.
The
retail and service revenue was 150 trillion VND (6.6 billion USD), up 12.3
percent year-on-year.
The
province has more than 3,500 firms involved in import-export activities.
Duong
Minh Dung, director of the province’s Industry and Trade Department, said
that export markets were stable and had expanded.
This
increased the province’s index of industrial production (IIP) by 8.6 percent
last year, he said.
The
province’s exports to traditional and large markets like the US, Japan, China
and the Republic of Korea rose significantly in the first months of 2017, he
said, adding that export growth had been maintained as many firms had export
orders until early 2018.
Last
year, the province’s gross regional domestic product (GRDP) reached a growth
rate of 8 percent.
This
year the province targets increasing GRDP growth by 8 percent and export
growth by 9-11 percent against last year.
The
province also aims to increase its IIP by 8-8.5 percent against last year.
Tran
Van Vinh, deputy chairman of the provincial People’s Committee, said the
province’s Department of Industry and Trade this year would boost cooperation
among domestic and foreign invested companies to supply products to one
another to reduce imports and increase exports.
Dong
Nai has exported hundreds of varieties of products in recent years, including
footwear, garments and textiles, fibres and textile threads, wooden products,
computers, electronics and spare parts.
The
province’s footwear, which accounts for its largest export revenue, is
exported to many countries.
Large
footwear firms in Dong Nai increased production in the last months of 2017 to
meet export orders.
Many
footwear firms now have orders until the middle of the year.
Last
year exports of the fibre and textile thread group accounted for 1.4 billion
USD, up nearly 24 percent against 2016. The group achieved the highest growth
in the province’s five groups of products with annual export revenue of more
than 1 billion USD each.
Non-observed economy to be measured in 2018
A
statistical project on measuring the non-observed economy, including
underground and illegal economies, will be proposed to the Prime Minister for
approval this year, said head of the Vietnam General Statistics Office Nguyen
Bich Lam.
Speaking
at the Ministry of Planning and Investment’s conference on January 15 to
review the ministry’s work in 2017 and implement 2018 tasks, Lam said that
the project aims to collect information on economic activities that affect
the scale of the economy but are not measured in GDP, in order to achieve
more accurate economic indicators.
According
to him, underground economy includes legal economic activities which are
hidden intentionally to avoid tax and social insurance payment or avoid implementing
State regulations on minimum salary and maximum work hours as well as legal
and administrative procedures such as financial and statistical reports.
Meanwhile,
illegal economy comprises of banned activities, including drug production and
trading, prostitution, and those which are not banned by law but conducted by
illegal producers.
The
non-observed economy also contains informal household economy and those
missed by the statistical system, Lam added.
The
head of the statistical sector promised that when the project gets the green
light in the first quarter of this year, the sector with work with relevant
ministries, sectors and localities to find out a feasible solution to
implementing the project.
He
affirmed that in 2018, the sector will ensure statistical information,
improve the quality of statistical work, especially analysis and predictions
on macro-economic situation, and conduct research on growth scenarios serving
management work.
It
will also adjust the GDP scale on the basis of the results of the
agro-fishery-forestry survey in 2016 and the 2017 economic census.
Nguyen
Phuong Dong, deputy director of the department, said that the manufacturing
and processing sector was estimated to increase by 8.2 percent in 2018 while
the electronic industry will also continue to grow well.
The
department expects the mechanical engineering sector to develop remarkably in
future. For example, the market-orientation of Mercedes-Benz is focusing on
manufacturing in
However,
enterprises are facing many difficulties and challenges, especially
competitive pressure involved in deepening integration.
Ly
Kim Chi, chairwoman of the HCM City Food and Foodstuff Association, said most
enterprises in the association were small and medium-sized and faced many
difficulties in capital, product output, production technology. These companies
would find it difficult to compete with businesses in the ASEAN region, as
they enjoy many incentives related to taxes, interest rates and other tools.
To
accelerate the restructure of the industry, the department’s representative
said that in 2018, the city would deploy more solutions to support businesses
to develop production, especially supporting industry enterprises.
Le
Nguyen Duy Oanh, deputy director of HCM City Centre of Supporting Industries
Development, said this year, the centre would focus on supporting
manufacturing enterprises to improve their supply capacity, expand
production, approach domestic and foreign partners, step by step joining in
the global supply chain.
Last
year, the city’s IIP increased by 7.9 percent compared to 2016. Of this, the
manufacturing and processing sector increased by more than 8 percent, four
major industries increased by 13.9 percent, higher than the average rate of
the industry sector and exceeding the target of 2017.
Dong
said industrial production was showing stability in both the short and long
term. Specifically, the IIP gradually rose in 2017 (up 6.02 percent in the
first three months, 7.51 percent at half year, 7.84 percent at three quarters
and 7.9 percent for the whole year).
In
addition, he said, IIP had tended to increase gradually over the past five
years (6.58 percent in 2013, 6.99 percent in 2014, 7.24 percent in 2015, 7.25
percent in 2016 and 7.9 percent in 2017).
Last
year, the four key industries in the city achieved impressive growth. Notably,
the electronic and information technology sector had remarkable growth. The
IIP increased 39.11 percent compared to 2016 although there were only 260
enterprises operating in the city.
From
August 2017 until now, the sector increased more than 30 percent due to the
application of high level technology, science and technology at projects by
the world’s leading economies (such as Samsung) in the field of
semi-conductor technology, micro-chip technology and electronic boards.
PM urges MPI for growth solutions
Prime
Minister Nguyen Xuan Phuc asked the Ministry of Planning and Investment to
offer the Government solutions to boost economic development and turn
The
PM, speaking on January 15 at the ministry’s conference to implement 2018
tasks, urged the ministry to closely watch socio-economic developments to
raise measures to meet growth targets this year.
Minister
of Planning and Investment Nguyen Chi Dung said that the socio-economic
development in 2017 would create the impetus for the country to enter a new
period of growth, one more efficient, sustainable and inclusive.
“The
way towards innovation and development is still long, ahead with difficulties
and challenges which require great effort to overcome,” Dung said.
The
ministry was striving to enhance public management and improve the investment
climate to promote production and efficiently attract private and direct
foreign investment resources, he added.
In
2018, the ministry would focus on the compilation of laws to submit to the
National Assembly, such as the Law on Special Administrative-Economic Units,
the amended laws on public investment and enterprise as well as the law on
investment under public-private partnership practice, Deputy Minister Nguyen
Van Trung said.
This
year, the Vietnamese economy was expected to face a lot of difficulties from
the uncertainty in the global economy, the return of protectionism, climate
change, international integration and the fourth industrial revolution, Trung
said.
However,
opportunities abound, given the Government’s efforts to promote innovation
associated with the industry 4.0 and enhance productivity and national
competitiveness, he added.
“The
core is maintaining macroecnomic stability and taking advantage of every
opportunity to create breakthroughs,” he stressed.
Trung
said that the ministry would focus on studying policies to effectively raise
every resource for development investment as well as solutions to hasten
economic restructuring in line with renovating the growth model and enhancing
growth quality.
Nguyen
Dinh Cung, Director of the Central Institute for Economic Management, said
that
Cung
also said that the ministry must do more in its role as the economy’s
conductor.
In
2017,
The
country also saw a record of 127 new firms in 2017.
Viettel Post moves up in business ranking
By
the end of 2017, Viettel Post reached total turnover of 5.1 trillion VND (226
million USD) or 112.3 percent of its yearly target.
With
this achievement, Viettel Post has moved forward 80 positions in the list of
500 biggest enterprises in
The
company now has over 1,000 post-offices and 5,000 agencies even in remote
areas and islands.
Customers
now can place their orders, find post-offices, pay bills, monitor the
movement of their packages through smart phones.
This
is also the first mobile customer support system in
Viettel
Post entered into the logistics industry and launched its customer care
service centre in 2017.
Kien Giang calls for investments for 68 projects
The
Mekong Delta
The
projects are in tourism, environment, agro-forestry and fishery raising and
processing, industry, industrial park technical infrastructure, housing and
urban development.
At
the event, delegates from Consulates General of India and
Chairman
of the provincial People’s Committee Pham Vu Hong said the local authority
has focused on implementing strategic breakthroughs and promoting economic
restructuring in connection with renewing growth model.
Many
measures have been taken to improve local competitiveness and investment
climate, thus making it easy for enterprises’ production and business, he
added.
Kien
Giang’s priority fields for investment include hi-tech agriculture,
agro-aquaculture-forestry sector, food and consumer goods production;
mechanical and support industry, textiles and footwear; tourism, and waste
treatment.
Enterprises’
representatives at the event signed commitments with Kien Giang province to
invest in projects in agriculture, industry, environment, and energy with a
total investment of 7.95 trillion VND (353.7 million USD).
Chairman
Hong affirmed that Kien Giang will create best possible conditions for
enterprises to implement the projects, thus ensuring the locality’s
sustainable development in the future.
Industrial production motive for industrial growth: minister
Strong
growth in industrial production was the main motive for industrial expansion
in 2017, Minister of Industry and Trade Tran Tuan Anh said at a conference in
The
index of industrial production grew 9.4 percent in 2017, well above the
growth of 7.4 percent in the previous year, driven by steady expansion in
manufacturing-processing (14.5 percent), he noted.
Consumption
of the manufacturing-processing sector continued to enjoy a upward trend with
an increase of 13.6 percent as of November, 2017, higher than the 8.5-percent
rise in 2016, the minister highlighted, saying that the two-digit growth was
seen in the consumption of beverage, garment and textiles, production of
leather and leather products and production of medicine and pharmaceuticals,
which contributed to boosting domestic production.
He
noticed that the inventory index witnessed a year-on-year surge of 8 percent,
lower than the 8.3 percent year-on-year increase in 2016. Also, he said that
the engineering sector worked to master design and manufacturing of
structural steel to increase the local content rate.
However,
the support industry should be paid more attention so that local industrial
production can join in the global production and value chain, he underlined.
Production
of the manufacturing-processing sector is forecast to continue to be on track
in 2018 thanks to numerous operational investment projects.
The
Ministry is working on the restructuring of state-owned enterprises to better
off business efficiency in key industrial segments of the country as part of
efforts to realise the sector’s goal of 9 percent growth in 2018.
The
move aims to slash management costs, improve business operation and ensure
sustainable economic growth in the coming years, Minister Anh said.
The
Ministry will prioritise networking events to connect and support local firms
so that they can participate in supply chain while focus on foreign-invested
projects to take advantages of economic integration.
Under
the support industry development programme, the ministry has carried out an
array of projects to back automobile industry, electronics industry, garment
and textiles and leather shoes.
Export – a bright spot of economic panorama
Addressing
a conference of the Ministry of Industry and Trade (MoIT) in
In
addition to the record export growth, as one of the top 10 events of the
sector in 2017, the MoIT endeavoured to reduce and simplify 675 investment
and business conditions, accounting for 55.5 percent of the total.
Divestment
at State-owned enterprises was one of the most notable achievements of the
ministry last year with the successful auction of the shares of the Saigon Beer
Alcohol Beverage Corp (Sabeco), collecting nearly 110 trillion VND for the
State, he said.
This
demonstrated the confidence of investors in the local market, the Government
and macro economy, he noted.
PM
Phuc hailed the efforts of State groups and companies under the management of
the ministry, particularly Sabeco, and recognised significant and positive
changes in the industrial growth model based on processing and manufacturing
industries, and reduced imports.
The
MoIT worked to ensure goods supply-demand and create nearly 2.7 billion USD
in trade surplus.
The
PM praised the ministry for pioneering in simplification and reduction of
administrative procedures, contributing to increasing national
competitiveness. It seriously implemented the Party and Government’s
directions on restructuring the apparatus and actively handling loss-making
projects.
He
also pointed to shortcomings in the field and asked the ministry to quickly
address them in 2018, including some policies hindering development, weak
supply-demand forecast, and loose connectivity between production and market
to reduce risks. Exports remain in the foreign direct investment (FDI)
sector, while the country still depends on imported materials.
There
are some restrictions in domestic market management and prevention of trade
frauds. The reform of State firms is still at the snail speed and
ineffective, he noted.
The
PM urged the MoIT to push ahead with processing and manufacturing industries
in service of agriculture.
The
sector should prioritise investment attraction in hi-tech, competitive and
environmentally friendly projects in 2018 and the following years as well as
promote production towards exports, secure the domestic market, and seek
goods distribution channels to increase added value in processing industry in
He
underlined specific targets set by the Government for the MoIT in 2018 such
as industry and construction striving to make up 7.7 percent of the gross
domestic product (GDP) and export turnover to expand by 8-10 percent against
2017.
Localities
must closely direct trade development and market management in their areas,
PM Phuc said.
He
hailed the ministry’s initiative of organising dialogues with businesses to
promote exports in 2018.
Phu Yen to host business promotion conference
The
central coastal
At
a press conference held on January 15, which released the information, representatives
of local authorities said more than 500 delegates, including those from 260
domestic and international enterprises, are expected to attend the
conference.
Phan
Dinh Phung, Vice Chairman of the provincial People’s Committee, noted the
event aims at introducing investors to preferential policies designated for
them and a list of projects on agriculture, processing industry, mining,
renewable energy, and tourism.
Le
Tan Ho, Director of the provincial Department of Planning and Investment,
said Phu Yen houses five concentrated industrial parks covering a total area
of 498 hectares.
The
province is investing in infrastructure at the Nam Phu Yen economic zone and
building a hi-tech agricultural park.
The
upcoming conference is expected to see the granting of licences to
investments totaling nearly 12.4 trillion VND (558 million USD).
State Auditor asked to improve organisation for better
performance
National
Assembly Chairwoman Nguyen Thi Kim Ngan has asked the State Audit to finalise
a plan to better its organizational apparatus by 2020 with a vision to 2030,
while improving the quality and capacity of its staff to increase the
agency’s performance.
Addressing
a conference to launch the 2018 task of the State Audit in
The
State Audit should also focus on strengthening the application of technology
in line with administrative reform, while fostering international cooperation
to host the 14th Assembly of the Asian Organisation of Supreme Audit
Institutions in 2018, she said.
Stressing
that the country is entering a new development period, the NA leader
expressed her belief that the State Audit will overcome all difficulties to
successfully fulfilling all assigned tasks.
General
State Auditor Ho Duc Phoc affirmed that the State Audit will continue
exerting efforts to complete its target for 2018.
According
to its 2017 report, the State Audit completed all 257 audits, approved 273
audit reports and issued 193 other reports.
As
of January 4, 2018, the organization discovered financial violations of 43.66
trillion VND. It voided 96 legal documents to avoid losses and wastefulness,
while discovering a redundancy of 57,175 public servants and employees.
The
State Audit also evaluated the value of six enterprises before their
equitisation, and exploring additional 504.5 billion VND needed to be paid to
the State budget.
On
the occasion, NA Chairwoman Nguyen Thi Kim Ngan presented the Independence
Order, third class, to former Auditor General Nguyen Huu Van, and the Labour
Order, second class, to Auditor General Ho Duc Phoc. A number of individuals
and collectives were also honoured.
The
national flag carrier Vietnam Airlines has introduced its premium economy
class for routes connecting
Premium
economy seats have been installed on Boeing 787-9 and Airbus A350-900 planes,
offering more convenient space and associated services compared to the
economy ones.
The
class comes with separate counters for boarding procedures, with its
passengers prioritised during custom clearance process and having baggage
allowances equaling to those on the business class.
Vietnam
Airlines and its subsidiaries, Jetstar Pacific and Vasco, operated
approximately 180,000 flights in 2017, carrying 26.5 million passengers and
343,000 tonnes of cargo, up 6.7 percent and 19 percent, respectively, from
2016.
The
company made up roughly 60 percent of the domestic market share and about
32.3 percent of the market share of international passengers flying to and
from
Amway Home products get Safer Choice certification
Amway
Home is one among the first home care brands in Vietnam to get the Safer
Choice label of the U.S. Environmental Protection Agency for its products
L.O.C multipurpose cleaner, SA8 concentrated laundry detergent and Dish Drops
dishwashing liquid, according to Amway Vietnam.
To
earn the Safer Choice label, which enables consumers to easily identify safe
products on the market, products of Amway Home underwent 80 strict tests of
the EPA. Amway’s BIOQUESTTM formula has been thoroughly tested by EPA experts
to ensure all ingredients are safe for human use and the environment.
In
addition, to become a Safer Choice partner of the EPA, Amway has to prove
efficiency of its products with the liquid concentrate formula, which saves
costs, minimizes water and power use, and reduce wastes.
At
a recent conference in HCMC, Jim S. Pell, Amway’s specialist in product
development and technology transfer, said that safety to women’s skin is
always a crucial requirement of home cleaning products.
Jim
S. Pell told participants at the conference in mid-December that Amway has
carried out experiments on skin with hundreds of women from different races
and obtained positive results. Products of Amway Home have safe pH levels and
are safe to sensitive skin.
In
recent years, products of natural origins and safe for human use are getting
more popular. According to experts, green products are becoming a new
consumption trend, though such products are priced higher than products with
industrial chemicals.
A
2016 report on health and sensitivity to ingredients of Nielsen
The
EPA’s Safer Choice certification encourages enterprises to turn out products
with safe ingredients.
Among
the five broad categories of the Safer Choice program, Amway was acknowledged
in the category of formulators/product manufacturers. Amway has now had 43
home care products qualified for the Safer Choice label.
Products
that meet safety requirements of the EPA are certified and get the Safer
Choice label on their packaging. Consumers hence just need a few seconds to
find Safer Choice products.
Thaco has no immediate plan to assemble BMW cars in Vietnam
Truong
Hai Auto Corporation (Thaco), the authorized importer of BMW, MINI and BMW
Motorrad cars in
In
September 2017, BMW Group Asia announced the signing of a letter of intent
between it and Thaco in which the Vietnamese auto firm was picked as the new
importer and distributor of BMW and MINI cars in
There
is a possibility that BMW cars would be assembled in
However,
Tran Ba Duong, chairman of Thaco, said at the press conference that in the
early stage, Thaco and BMW will only focus on developing their showrooms,
maintenance and after-sales services, and human resources.
Thaco
has plans to open 15 BMW showrooms, which will also offer maintenance
services, in the country this year. This is considered a huge step in
accelerating the distribution of BWM cars in
The
showrooms will be put into service this year and early next year in
Thaco
will maintain high quality maintenance and after-sale services for all
existing BMW, MINI and BMW Motorrad car owners in
Thaco
has signed labor contracts with 172 employees of Euro Automobiles Corp, the
previous BMW distributor in
Speaking
at the press conference, Paul de Courtois, managing director of BMW Group Asia,
said BMW considers
According
to de Courtois, many dealers showed interest in partnering with BMW. However,
Thaco has an edge over others as the 100% locally-owned firm has many years
of experience in the domestic market.
Customs clearance cost lowered
The
export and import customs clearance cost has decreased by US$19 per shipment
thanks to the national one-door mechanism, according to the National Steering
Committee for the ASEAN Single Window.
Therefore,
enterprises in the country can save an estimated US$205 million for around
10.8 million customs declarations, 15 million hours for storage of export
goods, and 33 million hours for storage of import cargo.
Deputy
Prime Minister Vuong Dinh Hue said at a 2017 review meeting of the committee
in Hanoi City that the result represented a mere 20% of the full-year target,
so it could not be seen as a major reform achievement.
Deputy
Minister of Finance Nguyen Thi Mai said eight out of 22 total procedures have
been established through the Vietnam National Single Window. Other procedures
may follow after the first quarter of this year.
The
number of items subject to specialized inspections account for a high
proportion among import and export shipments. However, the inspection
performance is still low, and a lot of legal documents should be amended.
Besides, inspections frequently overlap among ministries and agencies.
Nguyen
Van Can, head of the General Department of Vietnam Customs, said half of 100
specialized inspection items are not yet standardized, and that the
proportion of inspections in which violations are detected is a slight 0.14%.
He
added the specialized inspections that had made life more difficult for
businesses are mainly from the Ministries of Industry-Trade, Heath, and
Agriculture-Rural Development.
A
representative of the Vietnam Chamber of Commerce and Industry (VCCI) said a
survey found that 25% of respondents said it was difficult to comply with
specialized inspection procedures while only 8% said it was easy to comply.
Deputy
PM Hue proposed the VCCI finish its report as soon as possible so that the
Government could take a look at it.
Creating
favorable conditions for enterprises and fighting trade fraud should be done
at the same time,
He
told ministries and agencies to carry out all the 130 new procedures this
year as registered in the master plan for implementing the Vietnam National
Single Window and the ASEAN Single Window for the 2016-2020 period.
They
should reduce the proportion of goods shipments subject to specialized
inspections in the customs clearance process from the current 30-35% to 15%
in a bid to facilitate business activity, he said.
He
urged the elimination of overlapping regulations in specialized inspections
and management activities, and the issuance of a list of commodities subject
to specialized inspections.
Experts advise no VAT increase for now
Despite
the Ministry of Finance’s resheduling of a road map to increase value added
tax (VAT), experts have called for the VAT hike to be shelved, according to a
Thanh Nien newspaper report.
According
to the ministry’s latest draft, VAT is raised from 10% to 11% as from 2019
and 12% as from 2020, compared to the previously planned rises of 12-14% from
10%.
Le
Hoang Chau, chairman of the HCMC Real Estate Association, said the current
VAT of 10% should be maintained until 2020 as inflation has stayed at below
4% in recent years and is expected to be low this year.
As
inflation has been put under control, a higher tax may prompt a return to
high inflation. Consumers are those directly affected by the VAT hike as they
will have to pay more for commodities and services.
Tax
expert Nguyen Thai Son also urged a second thought on the tax rise. According
to
In
the recent draft of the ministry, the personal income tax on capital
transfers by foreigners is 2% regardless of transfer locations, and the rate
on transfer of listed shares is 0.1%. Capital transfers currently are charged
20% of profit, and foreigners are subject to a 0.1% rate of the amount they
receive.
It
is not easy to control costs relating to capital transfers by individuals,
according to the ministry. Therefore, the ministry has proposed a tax rate of
2% on foreigners’ capital transfer in the new draft instead of 1% as in the
previous draft.
Thanh
Nien newspaper quoted Nguyen Hoang Hai, vice chairman of the Vietnam
Association of Financial Investors, as saying that the rate differential of
unlisted securities and listed shares is too big.
A
1% rate on capital transfer would be appropriate as Vietnamese companies are
in need of capital, especially startups, whereas a high rate would restrict
venture capital flows into such businesses. In addition, investing in
unlisted companies, investors already take high risks due to unclear data of
those companies in comparison to listed ones.
Besides,
there is no mention of VAT on land transfers in the recent draft. Chau said
that the removal of VAT on land transfers is reasonable, or else there would
be an overlap with the land use fee.
Japanese firms sound out business prospects in Vietnam
The
Japan External Trade Organization (JETRO) has organized a networking event
for Vietnamese and Japanese businesses in
The
event was part of a JETRO project for nurturing new industries in
More
than 100 representatives of Vietnamese and Japanese enterprises took part in
the event in
Hironobu
Kitagawa, chief representative of JETRO in
The
event is aimed at creating an opportunity for companies of the two countries
to cooperate with each other, he said.
Japanese
startups develop various business ideas, and have the ability to assess
market demand in
Le
Thai Phong, a lecturer specializing in business administration at the
Other
participants also voiced their concerns over some disadvantages to the local
startup ecosystem compared with its equivalents in other countries.
For
example, they said, local startups spend at least US$50 and seven days
registering to obtain business licenses. Meanwhile, those in other countries
take around 30 minutes and pay no charge.
Besides,
State and private companies in the same business environment receive
different treatments for administrative procedures.
Phong
stressed the Government has offered policy incentives for startups, but local
authorities have still made life difficult for these companies.
PM sets tasks for planning, investment sector in 2018
PM
Nguyen Xuan Phuc said the nation’s socio-economic achievements are attributed
to contributions of the planning and investment sector which plays the role
as the chief provider of consultancy on socio-economic development and head
of the Government’s macro-economic group.
The
PM made that statement on January 15 at a meeting of the Ministry of Planning
and Investment to review works in 2017 and launch tasks for 2018.
He
highlighted the ministry’s elimination of 1,930 business conditions, asking
the ministry to renew and reform their assigned tasks as well as overcome
shortcomings and obstacles in 2018.
He
requested the ministry to urgently complete law projects and closely follow
the implementation of Resolution No.01 on major tasks and solutions guiding
the implementation of the 2018 socioeconomic development plan and state
budget estimates.
The
ministry needs to join hands with the Ministry of Finance and other relevant
agencies to mobilize investment resources for key infrastructure projects
such as the construction of North-South Highways and
Referring
to administrative reforms, improvement of the investment and business
environment and enhancement of competitiveness, the PM expected that a total
number of 150,000 enterprises will be set up this year.
Reorganization
of the sector, reduction of workforce, maintaining disciplines, anti-waste
and anti-corruption are key tasks of the ministry, he stressed.
In
the process of establishment of development policies, the sector must put the
benefits of the nation and people on the top for further sustainable
development, the Government chief said.
VNN
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Thứ Tư, 17 tháng 1, 2018
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