Government to continue to improve business environment in 2024

Among the specific goals for 2024, Việt Nam strives to increase by at least 10 per cent the number of businesses entering the market compared to 2023. — Photo tapchitaichinh.vn

HÀ NỘI — The Government targets to create a favourable business environment to facilitate new business initiatives and innovations and to reduce costs and risks for businesses.

This is part of the Government’s Resolution No. 02 on major tasks and solutions to improve Việt Nam’s business environment and competitiveness in 2024.

According to this resolution, the Government will create a healthy competitive environment to increase the number of newly-established enterprises and reduce the number of businesses temporarily suspending operations. 

This favourable business environment will boost development of businesses with innovation, green transformation, and digital transformation activities.

It will lower input and regulatory compliance costs in investment and business activities, reduce policy risks, and enhance business resilience.

In 2024, Việt Nam strives to increase by at least 10 per cent the number of businesses entering the market, including newly established firms and ones resuming operation, compared to 2023. The number of businesses withdrawing from the market will have a growth rate of less than 10 per cent against last year.

The Government targets to increase the number of new digital enterprises by at least 10 percent from 2023.

By 2025, Việt Nam will be among the top 50 countries in UN sustainable development rankings, and climb up at least three places in the World Intellectual Property Organisation’s global innovation index.

The global e-government ranking is expected to jump up by at least five notches while the logistics performance index is projected to climb by at least four places.

The country is expected to be among the top 30 countries in the International Telecommunication Union’s global cyber-security index.

To achieve the above goals, ministries and relevant agencies monitor the improvement of indicator sets. They report to the Government and the Prime Minister difficulties and obstacles in mechanisms and policies, and propose solutions and tasks to improve those indicators.

The Ministry of Information and Communications coordinates with the Ministry of Planning and Investment to develop statistical indicators on the digital economy.

The Government will focus on removing shortcomings in terms of legal issues during the development of investment projects. 

It will also improve the quality of conditions for conditional investment and business industries and the quality of enterprise development services.

The Government will complete policies to promote businesses to invest in production and businesses associated with innovation, digital transformation, green transformation, and sustainable development.

It will improve management efficiency, promote reform of specialized inspection activities for goods, and deploy effectively the National Single Window Information Portal.

Strengthening the application of information technology, and sharing data between state agencies will be carried out to improve the efficiency of handling administrative procedures.

The State will also have solutions to increase the capital absorption capacity of firms.

The Government requires ministries, and provinces and centrally-run cities to issue action programmes and plans on implementing this resolution before January 20. 

Ministries need to regularly coordinate with the Vietnam Chamber of Commerce and Industry and commodity associations to organise dialogues with business households and enterprises to grasp policy responses and resolve troubles and difficulties.

At the same time, they will analyse information and feedback from businesses and investors to prevent trade and investment disputes. — VNS