There is room for stronger reforms: VCCI

There is still significant room for stronger reforms to create a more favorable business environment and make Vietnam among countries with the best business environment in ASEAN, according to the Vietnam Chamber of Commerce and Industry (VCCI).

There is still significant room for stronger reforms to create a more favorable business environment and make Vietnam among countries with the best business environment in ASEAN, according to the Vietnam Chamber of Commerce and Industry (VCCI).

VCCI’s Chairman Vu Tien Loc spoke at an event on January 12 to announce the report about Vietnam's business regulations in 2020, saying that Vietnam was among few countries reporting positive economic growth last year.

Loc said drastic efforts in hastening institutional reforms and improving policies and mechanisms for enterprises helped the Vietnamese economy overcome difficulties as the COVID-19 pandemic heavily affected every socio-economic field.

The report, which looked at notable business regulations in 2020 with a focus on market entry and the legal framework for the digital economy, revealed that there were 17 laws, 158 decrees, 39 decisions and 310 circulars issued last year.

The number of circulars issued strongly decreased compared to previous years, which reflected that the quality of legal documents improved significantly, thus, it would not be necessary to issue too many circulars to provide instructions, VCCI pointed out.

About 55 percent of opinions of businesses were received and responded to, compared to 44.08 percent in 2019 and 42.51 percent in 2018, the report found.

“Policy-makers are paying more attention to enterprises’ opinions,” the report wrote, adding that the management thinking of policy-makers was witnessing renovations in recent years.

The current business legal system was not perfect, VCCI said, however. Some legal documents issued in 2020 still put in place unnecessary regulations which caused difficulties for businesses.

Dau Anh Tuan, head of the VCCI’s Legal Department, said that there were still overlaps, inconsistencies and a lack of transparency in existing legal documents.

Some inspections were also causing burdens and delays for enterprises.

Tuan said the existing overlaps, inconsistencies and lack of transparency required stronger reforms to be carried out with a drastic spirit to create the most favorable business environment for enterprises and position Vietnam among countries with the best business climate in ASEAN.

The management thinking must be renovated in the trend of rapid and intensive international integration to raise transparency and develop practical regulations which serve enterprises in an effective way, Tuan said.

VNA

Other News

SBV raises short-term capital lending cap to 40%

SBV raises short-term capital lending cap to 40%

The new circular will help credit institutions have more room to provide capital to businesses and investment projects to support high economic growth in the next few years, while increasing flexibility in the SBV’s monetary policy management.

Business confidence in Vietnam rebounds strongly: UOB

Business confidence in Vietnam rebounds strongly: UOB

The study found that 85% of Vietnamese enterprises reported positive business sentiment, a sharp increase from 48% in 2025, when business confidence was weighed down by uncertainties surrounding US tariff policies and related trade developments.

Bac Ninh seeks high-quality foreign investment for sustainable growth

Bac Ninh seeks high-quality foreign investment for sustainable growth

According to Vice Chairman of the provincial People’s Committee Pham Van Thinh, the province aims to maintain stable and sustainable growth, improve the competitiveness of both the economy and local businesses, and make better use of free trade agreements (FTAs) to expand and diversify export markets.

Green building trend flourishes in Ho Chi Minh City's real estate landscape

Green building trend flourishes in Ho Chi Minh City's real estate landscape

The International Finance Corporation (IFC) highlighted the city's dominance in green-certified building floor space in Vietnam, reflecting the rapid expansion of the green building market with 780 completed green buildings encompassing over 18.69 million sq.m by 2025, predominantly certified by EDGE and LEED.

UK supports Vietnam in wind power and green finance development

UK supports Vietnam in wind power and green finance development

The United Kingdom officially announced two new climate cooperation initiatives to support Vietnam in its energy transition and green growth journey. These programs focus on offshore wind power development and the creation of a sustainable green financial ecosystem.

Ample room remains for Vietnam–India logistics cooperation

Ample room remains for Vietnam–India logistics cooperation

The GTTCI expert noted that alongside logistics and integrated warehousing, e-commerce is expected to be a particularly high-growth sector in the coming years. He described it as a multi-billion-dollar market with significant untapped opportunities for cooperation between Vietnam and India.

Exports gain momentum from high-tech growth drivers

Exports gain momentum from high-tech growth drivers

According to the Ministry of Industry and Trade, Vietnam’s exports reached 215.66 billion USD in the first five months of 2026, up 19.5% year-on-year. Twenty-six export items generated more than 1 billion USD in revenue each, including seven with turnover exceeding 10 billion USD.

Vietnam–China crossings see spike in ASEAN fresh produce

Vietnam–China crossings see spike in ASEAN fresh produce

Since the start of the summer harvest season, China's two major border gates with Vietnam, Youyi Guan in Pingxiang and Beilun 2 Bridge in Dongxing, have entered their peak period for handling imports of fresh agricultural and seafood products from member states of the Association of Southeast Asian Nations (ASEAN).

Cargo handling operations at Berths 3 and 4 of the Hai Phong International Gateway Port. (Photo: VNA)

AI reshapes logistics, raising bar for workforce skills

According to the Vietnam Logistics Business Association (VLA), the logistics sector will require around 2.2 million workers by 2030, including 1.6 million employees for logistics service providers and nearly 600,000 personnel supporting logistics operations in manufacturing and trading enterprises.

Robust dispute resolution framework key to Vietnam's IFC ambitions

Robust dispute resolution framework key to Vietnam's IFC ambitions

The development strategy for VIFC-HCMC envisions a comprehensive financial ecosystem encompassing green finance, carbon credits, financial technology (fintech), blockchain technology, digital assets, digital banking and other innovative business models. These highly internationalised sectors involve complex cross-border transactions and sophisticated legal structures.