Ha Noi (VNA) – “Doing Business 2008” report, launched by the World Bank (WB) and the International Finance Corporation (IFC) on November 9, said that doing business in Viet Nam is easier than ever before.
Viet Nam climbed three places, reaching the 91st spot among 178 economies. The Doing Business 2008 rankings were based on the “ease of doing business” in the economies through 10 indicators.
Viet Nam’s “Registering Property” indicator stands at the 38 th place, while the cost for property register in the country is only about 1.2 percent of the total property, much lower than some economies which may reach as high as 9 percent.
For the “Getting Credit” indicator, Viet Nam took the 40th position, an increase of 32 places compared to 2007. Justin Yap, private sector development specialist from the WB and IFC, co-author of the 2008 report, spoke highly of the progress, saying it resulted from Viet Nam’s legal reforms.
Viet Nam’s two other indicators, “Dealing with Licenses” and “Enforcing Contracts,” are respectively placed at the 63rd and 40th positions. The specialist said the shortened time in dealing with licenses in Viet Nam should be applauded and continued.
The 2008 report also points out indicators Viet Nam should improve up. They include “Paying Taxes” (128th place), “Protecting Investors” (165th ) “Starting a Business” (97th ), and “Closing a Business” (121st ).
The 2008 report also proposed Viet Nam continue improving three other indicators, including “Starting a Business,” “Dealing with Licenses” (in the construction sector), and “Getting credit”. Once the indicators are improved, Viet Nam will likely leap 30 places in the rankings, it noted.
Addressing the report-launching ceremony, Le Dang Doanh, a Vietnamese senior economic specialist, said the report, based on data collected in June 2006, had not upgraded some positive changes in Viet Nam, including the application of the Enterprise Law and amended Investment Law (July 2007).
With the 91 st place in the rankings, Viet Nam stands higher than Indonesia, the Philippines, Cambodia, Laos and East Timor in the Southeast Asian region. The top places in the rankings belong to Singapore, New Zealand and the US, respectively. –Enditem
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