Greatly reforming the business environment is important

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Dr. Nguyen Dinh Cung, former director of the Central Institute for Economic Management.

Many people think that the spirit of reforming the business environment in Vietnam has been slowing in the last two years, which is expected to affect the recovery of the business sector. What is your opinion on this matter?

Since 2014, every year the Prime Minister has issued a thematic resolution on improving the business environment and enhancing national competitiveness. This Resolution supplements Resolution 01/NQ-CP on socio-economic governance and development. It shows that the Government always attaches importance to institutional reform, improving the business environment and considers it a priority and regular and continuous task.

In the period from 2015 to mid-2019, the improvement of the business environment has taken place very strongly, and achieved many positive effects; many recommendations of the business community have been removed by ministries and sectors.

But from mid-2019 to 2021, in my opinion, the spirit of reform shows signs of slowing down, one reason we often talk about is Covid-19, because of the two-year evolution of the Covid-19 pandemic, the Government and Ministries and branches must focus resources on fighting the pandemic.

Facing these difficulties, the business community is in dire need of a more favorable, safer business environment, and reduced costs. There is no other way excluding reform and improve the business environment. Therefore, the promulgation of Resolution 02/NQ-CP by the Prime Minister on key tasks and solutions to improve the business environment and enhance national competitiveness in 2022 has an important mark that the Government still places the task of institutional reform, improving the business environment, and enhancing national competitiveness as a top priority task, in order to create a favorable business environment for enterprises and promote business development, promote socio-economic development and national competitiveness.

In your opinion, what impact will Resolution 02/NQ-CP have?

Resolution 02/NQ-CP not only shows the determination of the Government and the Prime Minister in improving the business and investment environment, but in my opinion, the Resolution also has great significance for the business community.

Firstly, usually after a pandemic or crisis, improving the business and investment environment is a leading factor in promoting and recovering the business community and speeding up the growth of the business community. The experience of Vietnam and the world shows that, even after a crisis, a strong reform is needed.

Secondly, after two years of fighting the pandemic, the business community has been severely impacted, so at this moment, more than ever, businesses are in dire need of an open environment, to remove all barriers to recovery.

Third, if the Resolution is implemented well, it will bring confidence to businesses, but when businesses and investors have confidence and the market's confidence is consolidated, its impact will be doubled, having a positive impact on the recovery and increasing the growth rate of the economy.

The effective implementation of Resolution No. 02/NQ-CP, in addition to affirming that Vietnam continues to reform and improve the business environment, will promote recovery and increase growth.

For businesses and investors, the business and investment environment is freer, safer and more open, thereby opening up opportunities for businesses that are much more important than support packages, so the implementation of Resolution No. 02/NQ-CP will bring confidence to businesses.

The impact of Covid-19 cannot be erased for several years and may continue to develop in the near future. To reform and improve the business environment, what do we need to do, sir?

Regarding solutions, I propose that the Government direct relevant ministries and branches when promulgating new legal documents or amending and supplementing existing ones, not to put additional barriers, and not go against the reforms in the past. At the same time, request ministries, branches and localities to immediately solve issues according to their competence and immediately amend regulations that are causing difficulties and costs for investment and business.

The first time, reform efforts were not evenly spread across all fields, but instead, they should be inherited, focusing on problems and areas that have had initial results.

Specifically, it is necessary to devote adequate resources and attention to partly neutralize the resistance to the reform trend as well as the "efforts" that are rekindling the restoration of outdated state management tools or to restore some rights and interests lost in the previous reform process.

Improving the business environment in 2022 VCN - At the beginning of each year, the Government issues Resolution 02 on key tasks and ...

To promote reform, business associations, regardless of being domestic or foreign, need to coordinate, cooperate, exchange and share each other's concerns, and support each other in proposing initiatives, and specific recommendations on improving the business environment in related industries and fields.