State-owned economic groups, complaining about the losses caused by Covid-19, have asked for financial support at a time when the government is preoccupied with fighting the pandemic.

Vietnam’s economy continues to obtain high growth rate, but Covid-19 has upset all the key tasks and goals of the government and local authorities at different levels.

As businesses and people need emergency aid, former director of the Central Institute of Economic Management (CIEM) Nguyen Dinh Cung believes that the implementation of economic relief solutions needs to be organized in a quick and inexpensive way.

Nguyen Dinh Cung, former director of the Central Institute for Economic Management and member of PM Nguyen Xuan Phuc's economic advisory group, speaks about measures to improve the business environment.

The year 2020 is expected to bring about both opportunities and challenges for Vietnam to soar higher. 

The Director of the Central Institute for Economic Management suggested ministries and ministerial-level agencies simplify business conditions and remove ones which are unclear, too vague, and unfeasible before the third quarter of 2019.

VietNamNet Bridge - The goal of cutting 50 percent of business sub-licenses in 2018 may be unattainable as many ministries still don’t have preliminary plans to simplify business conditions.

VietNamNet Bridge - The loan guarantees issued by the government have mostly gone to projects in power, aviation, cement production, transport infrastructure and two banks.

Many Vietnamese businessmen decide to register their businesses in other countries because they hope they can get more transparent information, have better opportunities to access investors, and have good brands they can market.