Vietnam makes progress in improving competitiveness

Although Vietnam has made strides in bettering the business environment and competitiveness capacity, there’s still room for improvement, heard participants at a meeting held in Hanoi on December 6.
Deputy Prime Minister Vu Duc Dam speaks at a meeting organised by the National Council for Sustainable Development and Competitiveness Improvement held in Hanoi on December 6. (Photo: chinhphu.vn)
Deputy Prime Minister Vu Duc Dam speaks at a meeting organised by the National Council for Sustainable Development and Competitiveness Improvement held in Hanoi on December 6. (Photo: chinhphu.vn)

Although Vietnam has made strides in bettering the business environment and competitiveness capacity, there’s still room for improvement, heard participants at a meeting held in Hanoi on December 6.

The meeting, organised by the National Council for Sustainable Development and Competitiveness Improvement, aimed at reviewing the implementation of the government’s efforts on the issues from 2019 and assign tasks for next year.

Dau Anh Tuan, Director of the Legal Department of the Vietnam Chamber of Commerce and Industry, said results of surveys on administrative procedure and tax procedure reform and business environment improvement in 63 provinces and cities showed the proportion of enterprises with positive assessment continued to increase for the third consecutive year.

Vietnam was placed 67th out of the 141 countries in the Global Competitiveness Report 2019, up 10 places compared to its 2018 ranking and also up 3.5 points, which are the fastest increases in the world.

The country has moved up three ranks on the 2019 Global Innovation Index (GII) to place 42nd out of 129 economies around the world.

With this jump, Vietnam has leaped 17 spots since 2016. This year’s result is also the highest ranking Vietnam has ever achieved.

Ministries and branches have been aware of their responsibilities and actively participated in improving their scores and index rankings in the fields under their management.

However, Tuan said, some people still worried about the pace of the reform progress.

“As reported by the World Bank in the Doing Business Report, Vietnam has five major administrative reforms in 2018 but with only three this year. This raises concern about a potential slowdown in renovating business environment and improving competitiveness in Vietnam,” he said.

Tuan suggested the Council focus on supervising the effectiveness of government policies’ implementation.

Phan Duc Hieu, Deputy Director of the Central Institute for Economic Management (CIEM), agreed, saying overlapping of legal documents was common.

Most of ministries only publicise business conditions after cutting down some of them but they didn’t give guidance and training for localities or enforcement units as well as monitoring the results of reform.

“Statistics from CIEM showed that many business conditions stipulated in decrees and laws are hindering and making things difficult for business. It’s time to review business conditions that have been recently issued but not effective,” he said.

Deputy Prime Minister Vu Duc Dam, as the chair of the council, said the council needed to adopt practical solutions to produce a more attractive and competitiveness environment. He also asked members of the council to quickly contribute ideas to develop a resolution for next year.

The National Council for Sustainable Development and Competitiveness Improvement was established in July 2012, with the aim of advising the Government and the Prime Minister in guiding the creation and implementation of strategies, policies and programmes relating to sustainable development and competitiveness enhancement.

VNA

Other News

Vietnam accelerates innovation to boost growth, competitiveness

Vietnam accelerates innovation to boost growth, competitiveness

By 2030, Vietnam aims to rank among the world’s top 40 in the GII; raise total social investment in R&D to at least 2% of GDP, with non-State funding accounting for over 60%; increase international scientific publications by an average of 10% annually; and raise the number of patent applications and granted patents by an average of 16-18% annually.

Vietnam sees high growth prospects

Vietnam sees high growth prospects

Experts from the Institute of Vietnam and World Economy under the Vietnam Academy of Social Sciences noted the quality of recent growth as the high growth rate has been recorded against an increasingly higher comparative base.

Vietnam seeks bigger share of global Halal market

Vietnam seeks bigger share of global Halal market

Vietnam's Halal exports remain modest at around 900 million USD a year, accounting for less than 1% of the global market. Most exports are still raw agricultural and seafood products. Only around 1,000–1,300 Vietnamese businesses obtained or maintained Halal certification during 2024–2026.

Hanoi sets up inter-agency mechanism to operate carbon market

Hanoi sets up inter-agency mechanism to operate carbon market

Under a decision of the municipal People’s Committee on establishing an inter-agency working group, departments and agencies are responsible for identifying facilities subject to greenhouse gas inventories, developing emissions-reduction plans and studying projects capable of generating carbon credits.

Shrimp exports reach 3.3 billion USD in eight months

Shrimp exports reach 3.3 billion USD in eight months

According to data from the Vietnam Customs cited by the Vietnam Association of Seafood Exporters and Producers (VASEP), shrimp exports reached 478.5 million USD in August, up 4.2% from the same month last year. The eight-month total stood at 3.3 billion USD, representing a year-on-year increase of 12%.

Russian investors explore opportunities in Vietnam's real estate market

Russian investors explore opportunities in Vietnam's real estate market

Vietnam is seen as a potential market, with considerable room for growth in real estate, particularly commercial property, compared with some regional markets. Strong Vietnam-Russia ties and opportunities to establish foreign-invested enterprises are also considered favourable for Russian investors.

Phu Quoc airport planning adjusted to serve APEC 2027

Phu Quoc airport planning adjusted to serve APEC 2027

For 2021-2030, the Civil Aviation Authority of Vietnam proposed bringing forward the investment in a parallel taxiway system and a connecting taxiway north of Runway No. 2 at Phu Quoc International Airport, in order to connect with the aircraft maintenance and repair facility (hangar) planned for the northern area of ​​the airport.

Policy, infrastructure emerge as new advantages in FDI attraction

Policy, infrastructure emerge as new advantages in FDI attraction

From policy and infrastructure to industrial real estate, Vietnam’s FDI advantages are broadening towards a more integrated production ecosystem, offering investors a stronger combination of conditions for high-value, technology-intensive and long-term projects.

Logistics upgrade vital to 1-trillion-USD trade target: experts

Logistics upgrade vital to 1-trillion-USD trade target: experts

As trade expands, systemic bottlenecks across transport networks, warehousing, ports, border gates, and industrial zones are becoming more apparent. Experts emphasise the need to shift from a fragmented, project-by-project approach toward strategic management structured around trade corridors and integrated supply chains.

Ample room for Vietnam, US to deepen cooperation

Ample room for Vietnam, US to deepen cooperation

Do Ngoc Hung, Trade Counsellor and head of the Vietnam Trade Office in the US, said what stands out is not only the growth in trade volume but also the increasingly deep economic ties between the two countries.

Flexible fiscal policy helps drive economic growth

Flexible fiscal policy helps drive economic growth

According to the Ministry of Finance, State budget revenue in the first eight months of 2026 was estimated at 2.02 quadrillion VND (77.7 billion USD), equivalent to 80% of the annual estimate and up 16% year-on-year. Domestic revenue reached 1.75 quadrillion VND, accounting for 86.6% of total revenue and rising 16.6%.

Electronic components are produced at a factory in Hanoi. (Photo: VNA)

Hanoi's imports surge 41% in first eight months of 2026

Hanoi aims to achieve average annual export growth of at least 12% during 2026-30, with the city seeking to diversify export markets, boost high-tech and value-added products and reduce reliance on traditional markets.