Drivers for economic growth promoted
Monday, October 15,2018AsemconnectVietnam - Vietnam’s economy in the last nine months has continued to grow. The Government, ministries, sectors and localities have focused on improving competitiveness, reforming institutions, promoting the private sector, and developing science and technology.
Institutional reform is considered the key to economic growth. Vietnam has strengthened administrative reforms, improved the investment environment, increased national competitiveness, and developed a responsive government.
Minister and Head of the Government Office Mai Tien Dung said "Vietnam has prioritized institution building. In its regular meetings, the government has discussed draft laws and decrees and worked closely with NA agencies to fine-tune legal documents. Laws concerning land, housing and the investment environment have been revised.”
Vietnam will continue to strengthen administrative reforms to be among the top ASEAN countries and meet criteria of OECD countries in term of the business environment.
Promoting the private sector
President of the Vietnam Chamber of Commerce and Industry Vu Tien Loc said “Business barriers, ask-give mechanisms, and unfair competition are the major obstacles for the private sector. Removing these barriers and creating a transparent, fair environment will create the best ecology for private enterprises. The State’s incentives of reducing business fees and administrative procedures have helped the private sector.”
Fostering science and technology to take advantage of the 4th Industrial Revolution
The State has provided enterprises with capital to modernize their technology, increase production, and prepare for international integration.
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