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Repeated warnings have been given in the last two years about the growing tendency of Vietnamese registering businesses in other countries such as Singapore and Thailand.
VietNamNet Bridge - Complicated administrative procedures and weak financial and management capability are why business households do not want to become enterprises.
The government has made great efforts to be more enabling and responsive to businesses. This has received a thumbs-up from international organisations, which believe it is a sign that brighter prospects lie ahead.
People can fill in and submit forms for more than 700 administrative procedures in Hanoi online this year, as the municipal People’s Committee has focused on promoting online public services.
The significant improvement in Vietnam’s business environment is expected to be the major reason which helps Vietnam obtain high economic growth rate in difficulties, and helps ‘the fish swim against the current’ as economists commented.
A lot of decisions have been made and many drastic measures have been applied to show the strong determination of local authorities in creating perfect investment environments to attract investors.