Benefits of Setting Up Company in Hanoi | ANT Consulting

Along with the trend of integration in the world, Vietnam is considered a country with rapid and strong growth, in which, industrialization and modernization are focused on developing a uniform set and achieve high performance. Hanoi and Ho Chi Minh City are considered the two cities and dynamic development in Vietnam.

In particular, Hanoi, the potential capital for developing and attracting foreign and domestic investment. Therefore, the investment from businesses to the city is seen as an advantage and the best. To evaluate how such advantages are, the following article will analyze in detail as follows:

First, the labor force

Hanoi is considered a capital with a longstanding historical developed tradition. The population is heavily crowded, reaching about 7 million after 4 times of adjusting the administrative boundaries in 2014. Ha Noi has become one of the 17 largest cities in the world. In addition, with favorable conditions, Hanoi is considered an attractive city for labor, especially qualified and highly skilled workforce. This is a particular advantage for businesses to invest in Hanoi, because the amount of labor leads to a consequence that cost for labor is cheap and a large workforce will provide for industries requiring a large amount of labor force.

Second, the pace of economic development

In 2014, the economy of Hanoi has continued to grow and controlled inflation. In addtion, GDP in the province is estimated at 8.8% and revenue is estimated at 130.000 billion, with 103% of the mathematics. Besides, administrative reform, improvement on the investment environment, business environment, policies to remove difficulties for enterprises often deploy, which made PAR index of cities rise 2 levels compared with 2012 and No. 5 of the 63 provinces and cities nationwide. Thus, with the stable and strong economic development, Hanoi is a city that brings stability for businesses to invest and develop business in this city.

Thirdly, facility

With the aim of developing Hanoi based on critirea of synchronous and modern infrastructure, leadership of Hanoi has attempted to offer policies to promote infrastructure construction of the city in order that Hanoi will become more modern, in which, the traffic system in Hanoi must be built and upgrades more modern. This is considered particularly advantage, because the synchronous development of infrastructure will bring to the development of economy of the city.

Fourthly, administrative and tax policies

With attractive policies for investment, Hanoi has implemented policies solving administrative procedures with only a door. This policy is seen as a new step forward the people of Hanoi in general and businesses having demand to invest in Hanoi in particular. With this open policy, the procedures for establishing businesses, dissolution, business transformation become quickly and easily than ever before, creat favorable conditions for the development of business and resolve administrative procedures. In addition, in order to facilitate business development for businesses, Hanoi has many policies to reduce taxes in order to create favorable conditions for development of new business with low capital.

Fifthly, geographic location

Judged to be a convenient location, with synchronous traffic system, a northern – southern railway, highway 1A, along with the expanded domestic and international routes, Hanoi is considered a city with the most convenient trade location in Southeast Asia and the gateway to the East Sea of Laos and other countries. Thus, Hanoi is the right choice of businesses that need an exchange between domestic and international provinces.

Sixthly, broad market

With the population of 7 million, belonging to one of the 17 cities with the largest population in the world, Hanoi is considered a city which has the largest consumer goods market in the country. Abundant work force, along with the large number of people from suburbs, strong demand for consumer products, services lead to favorable conditions for businesses in production and consumption of consumer products and services. These come from a reason that if the demand rises, the number of products will also lead to increase and as a consequence, economic growth of enterprises will also increase. It can be said that this is a particular strength of the city that businesses investing here are looking forward. From the analysis given above, it can be said that Hanoi is considered to be an attractive destination for small and medium enterprises, especially for enterprises with foreign investment into the Vietnam market. To better understand how to establish enterprises and choose the best type of enterprise, ANT Consulting is honored to be served our customers and provide the best services for customers. We hope cooperation from you.

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Korean Investor Proposed to Invest in 200 MW Hydroelectric Power Plant at Chan May - Lang Co | ANT Consulting

Chairman of the People’s Committee of Thua Thien Hue province has just had a meeting and worked with the Director of the Busan Economic Promotion Agency (Korea) (BEPA) to learn about investment and development opportunities in Thua Thien Hue Province.

At the meeting, Director of BEPA has informed about investment orientation and investment promotion plan of Busan city abroad, including investment cooperation in Vietnam.

Through understanding the potentials and policies to attract investment of Thua Thien Hue province, the Korean agency wants to cooperate with Thua Thien Hue province to develop some investment projects and bring large enterprises in Busan to investment in the province.

Accordingly, the Korean side proposed to invest in a number of projects in Chan May – Lang Co Economic Zone of Thua Thien Hue province, namely investment in hydroelectric power plant, capacity of 200 MW and investment in construction of ports serving for the transportation of raw materials for power plants, and import – export activities. In addition, the Korean side wishes to study investment in infrastructure and industrial development investment projects in accordance with the investment attraction policy of Thua Thien Hue province in Chan May – Lang Co Economic Zone.

Chairman of Thua Thien Hue Provincial People’s Committee welcomed and highly appreciated BEPA’s desire and ideas for investment and development proposals in Thua Thien Hue province; Provincial departments and agencies will coordinate and create the best conditions for BEPA as well as Korean investors to study investment projects in Chan May – Lang Co Economic Zone.

For the investment in Hydro gas power plant, Chairman of the province proposed that BEPA should complete the dossier soon to submit to the Ministry of Industry and Trade for consideration and incorporation into the development investment plan and at the same time soon negotiate with EVN on the electricity prices serve as a basis for the effective investment of power plant in Chan May – Lang Co Economic Zone.

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The advantages of attracting FDI to Vietnam in 2021 | ANT Consulting

In 2020, due to the impact of the covid-19 epidemic, the global supply chain will be seriously affected. Besides, the effects of the US-China trade war, the shift of production out of China took place quickly. In which, there are four areas that corporations tend to shift to Vietnam to set up company and make investment are information technology and high technology, electronic equipment, e-commerce and logistics, consumer goods, and retail.

Some big global corporations have started recruiting, searching for supply chains, and Vietnam is one of the destinations in the transition to other countries in the region such as Indonesia, Thailand, or Malaysia.

Vietnam, with the advantage of being close to China, is favorable for the movement of investment and machinery. Besides, having policies to attract FDI from Vietnam will make it easier for international investors to transfer investment.

At the same time, Vietnam also participates in many Free Trade Agreements such as CPTPP, EVFTA, etc. that facilitate trade relations with many countries and regions in the world, which will make cooperation more favorable. In addition, the stability in the value of Vietnam currency is also a strong point in attracting international investment.

As the report of a famous industrial real estate brokerage firm, data comparing occupancy rates and rental rates of industrial zones in Southeast Asian countries in the first quarter shows that Vietnam has an average rental rate of 45-50% lower than in Thailand, Malaysia, and Indonesia. According to a report in 2019, Vietnam’s labor costs are also lower than that of Thailand, Malaysia and Indonesia, in addition, the labor force in Vietnam is increasingly abundant and the quality of labor is increasing.

Regarding electricity prices, according to EVN, comparing electricity prices in 2019 of Vietnam compared to other countries in the region, according to statistics, shows that electricity prices in Vietnam reach 80% compared to electricity prices of Indonesia; 42.1% of the electricity price of the Philippines and 66.7% of the electricity price of Cambodia.

In addition, with the application of supportive policies such as reduction of corporate income tax, import and export tax, land rental assistance, labor supply, and administrative procedures, Vietnam deserves to become be best investment destination in the world, for international companies to make investment, establish company and obtain investment registration certificate.

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The ASEAN - Hong Kong Trade Agreement Expand Investment Opportunities in Vietnam | ANT Consulting

The ASEAN – Hong Kong Free Trade Agreement (AHKFTA) has been effective from June 11th 2019 for Singapore, Thailand, Vietnam, Laos and Myanmar, which are expected to positively impact the South East Asia economy, particularly Vietnam.

This trade agreement was signed between Hong Kong and 10 member countries of the Association of Southeast Asian Nations (ASEAN) in November 2017, which will help reduce commodity taxes, boost service and investment flows among regional markets and Hong Kong.

Accordingly, countries will gradually reduce tariffs in the coming years.

According to HSBC Vietnam, the ASEAN – Hong Kong Free Trade Agreement is a new step in efforts to ensure global trade freedom and is a great success for ASEAN, particularly Vietnam.

In the context of ongoing trade tension, Hong Kong businesses are seeking to expand investment opportunities and this Agreement opens up more opportunities in Southeast Asia.

Bilateral cooperation between Hong Kong and Vietnam has developed steadily over the years and the implementation of the new agreement promises to open more opportunities for cooperation in these two markets. ASEAN is Hong Kong’s second largest trading partner in the field of merchandise trade in 2018 and is the fourth largest partner in service trade in 2017.

By the end of 2017, ASEAN ranked fourth among Hong Kong’s direct offshore investment markets. ASEAN is the sixth direct foreign investment source of Hong Kong worth about 628 billion Hong Kong dollars.

Vietnam with the advantage of geopolitical factors is considered an attractive investment destination for foreign investors. The AHKFTA Free Trade Agreement will open more business opportunities for this fastest growing Southeast Asian country, continuing to boost trade flows between Vietnam and Hong Kong.

In the first five months of 2019, Hong Kong ranked first among investment markets in Vietnam with a total investment of 5.08 billion USD, accounting for about 30.4% of total investment in Vietnam. The agreement is expected to make it easier to access trade flows between Hong Kong and ASEAN. Intensified trade and investment flows will help Vietnam improve its production capacity, thereby maximizing the opportunities that come from trade flows.

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FDI Is Expected to Flow into Vietnam After the Covid-19 Epidemic | ANT Consulting

The Covid-19 epidemic is also considered an opportunity for Vietnam to receive faster flows of foreign investment, especially capital flows away from China.

According to the Director of Foreign Investment Department (Ministry of Planning and Investment), a large US corporation is planning to invest a multi-billion-dollar project in Asia. The two locations they considered were China and Vietnam. Given the situation of the Covid-19 epidemic in China, it is likely that they will choose Vietnam. In March, they will make a final decision…

A group of Korean and US investors interested in LNG power projects in Vietnam is probably one of the rare foreign business delegations coming to Vietnam at the time of the outbreak of Covid-19. On February 11th, they went to the Government Office and the Ministry of Planning and Investment to work on this content.

Without hiding ambition, according to representative of Korean investors consortium including Korea Gas Corporation, Southern Korea Electric Company, Hanwha Group… – they want to invest into LNG port and gas power plant projects in Vietnam. Even in addition to the electricity sector, these investors also want to invest in other areas in Vietnam.

The fact that foreign investors still coming to Vietnam at this time proves the attraction of Vietnam. The postponement and cancellation of investment promotion trips of foreign investors is only momentary.

In addition, according to the National Center for Socio-Economic Information and Forecast, the Covid-19 epidemic showed that the world was too dependent on China.

Having similar views, the New York Times also forecast that the flow of foreign investment from China to Vietnam to avoid US taxes could be accelerated by the Covid-19 epidemic.

According to the representative of JETRO Hanoi Office, in order to disperse risks, 122 Japanese enterprises asked by JETRO said that they decided to relocate their production in China and the place to be moved to the top is Vietnam.

Vietnam is at the top of the list, with 42.3% of the 122 businesses mentioned above have chosen. Following Vietnam is Thailand (20.6%), Philippines (18.6%) and Indonesia (16.5%). Japanese enterprises moving away from China not only because of trade war, but also to evade the increasing input costs in this market.

In the international market, it is forecasted that the flow of international investment into China and investment from China to foreign countries will face difficulties in 2020, even possibly sharply decline in the first quarter of 2020. The Covid-19 epidemic, if combined with geopolitical risks, trade war risks… also makes the global political, economic and social environment even more uncertain, promoting defensive psychology, shrinking, thus weakening investment motivation.

This is an opportunity for Vietnam to have policies to attract investors who are intending to narrow production in neighboring countries and invest in Vietnam. Investment promotion units should proactively work with foreign investors who have plans to invest in Vietnam to discuss, orient and unify the preliminary investment procedures.

Besides, in the long term, it is necessary to continue improving the investment and business environment, amending policies and strategies to attract foreign investment.

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Financial Times: Vietnamese Consumers Are Optimistic about The Economy | ANT Consulting

A recent study by the Financial Times issued statement on the positive psychology of Vietnamese consumers to the economy, thereby boosting consumer spending and encourage foreign investors to invest in Vietnam.

According to the study, Vietnamese consumers still spend heavily on shopping thanks to the dynamic economy, which increases household incomes.

This trend is expected to continue, in the context of Vietnam consumer psychology about the economy is in the highest optimism status in the past three years.

The study also expects that Vietnam’s economy will maintain the highest growth rate among key regional economies.

In 2017, Vietnam’s economy grew by 6.8% and is expected to grow higher this year.

Through a survey with 5,000 consumers in Thailand, Indonesia, Malaysia, Philippines and Vietnam, the study evaluated Vietnamese young people are the most optimistic in this group about their economic prospects.

Vietnam is also becoming a destination for foreign investment.

Since 2009, Samsung from Korea has invested in Vietnam 17 billion USD. Last year, nearly half of smartphones sold to the world came from factories in Vietnam.

Nevertheless, the Financial Times study also identified the challenges faced by the Vietnamese government to maintain economic growth, in the context of rising public debt and tight budgets.

2018 is also the year Vietnam will gradually fulfill the commitments of 16 free trade agreements, in which a series of tariff will fall to 0%, affecting the budget revenue.

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Financial Times: Vietnamese Consumers Are Optimistic about The Economy | ANT Consulting

A recent study by the Financial Times issued statement on the positive psychology of Vietnamese consumers to the economy, thereby boosting consumer spending and encourage foreign investors to invest in Vietnam.

According to the study, Vietnamese consumers still spend heavily on shopping thanks to the dynamic economy, which increases household incomes.

This trend is expected to continue, in the context of Vietnam consumer psychology about the economy is in the highest optimism status in the past three years.

The study also expects that Vietnam’s economy will maintain the highest growth rate among key regional economies.

In 2017, Vietnam’s economy grew by 6.8% and is expected to grow higher this year.

Through a survey with 5,000 consumers in Thailand, Indonesia, Malaysia, Philippines and Vietnam, the study evaluated Vietnamese young people are the most optimistic in this group about their economic prospects.

Vietnam is also becoming a destination for foreign investment.

Since 2009, Samsung from Korea has invested in Vietnam 17 billion USD. Last year, nearly half of smartphones sold to the world came from factories in Vietnam.

Nevertheless, the Financial Times study also identified the challenges faced by the Vietnamese government to maintain economic growth, in the context of rising public debt and tight budgets.

2018 is also the year Vietnam will gradually fulfill the commitments of 16 free trade agreements, in which a series of tariff will fall to 0%, affecting the budget revenue.

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Car Booking Application of Indonesia Pours 500 Million USD in Vietnam and Three Other Countries | ANT Consulting

Go-Jek – a car booking application from Indonesia has decided to pour 500 million USD to invest in Vietnam and 3 other countries.

Go-Jek – Indonesia’s most popular car sharing application has announced it will invest about 500 million USD to join four new markets, which are Vietnam, Thailand, Singapore and the Philippines in the coming months. Initially, they will only provide carpooling services, then expanding to other forms later.

Starting with carpooling, Go-Jek now offers food delivery service, online grocery stores and payment. Last year, Go-Jek had acquired three Fintech companies to increase its presence in Indonesia digital payment sector.

Go-Jek’s services are available in 50 cities in Indonesia. They are also supported by many well-known investors, such as Temasek Holdings (Singapore) and Tencent (China).

Expanding to new markets will increase competition between Go-Jek and its competitor – Grab (Singapore) in the region. Grab now also offers similar services, such as carpooling, digital payment and food delivery. Both are struggling to gain market share in Indonesia.

Earlier this year, Google invested in Go-Jek. According to Google, this move is consistent with their ambition to help Indonesia develop its digital economy and start-up. However, they do not disclose the specific amount.

Reuters also reported that Go-Jek had an additional 1.5 billion USD in a capital mobilization round in February. This company is currently valued at 5 billion USD, according to PitchBook – a financial data company.

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Vingroup Produces Smartphone Called Vsmart | ANT Consulting

Vingroup has just announced that they will manufacture electronic devices, starting with the smartphone branded Vsmart.

Implementing the strategy to expand the field of industrial production, following the VinFast automobiles and electric scooters production project, Vingroup established VinSmart Company with a charter capital of 3,000 billion VND.

VinSmart will operate in two main areas. The first is the production of smart electronics, starting with smart phone branded Vsmart. The second is research, experiment and application of artificial intelligence (AI), automation and new generation materials.

Vsmart factory will be built at VinFast automobile production complex in Dinh Vu, Cat Hai economic zone (Hai Phong) according to international standards. In terms of technology, Vingroup is working with leading consulting firms to hire design consultants, find good experts, acquire the right to design components for smartphones and purchase equipment lines to produce phones.

Vingroup believes that the cooperation with leading partners will ensure that Vsmart smartphone manufacturing process is equipped with modern, advanced, optimized and ensure quality products.

In the second field, VinSmart will set up centers for research, experiment and application of artificial intelligence, automation and new generation materials and will actively study and buy patents to experiment in Vietnam to bring these innovations into production and life.

By participating in the field of experimental research and application of high technology and smartphone manufacturing, Vingroup expects not only to contribute to creating a new future for the Vietnam industry sector, but they also contribute to the building of a solid knowledge base, which captures opportunities for growth from the 4.0 technology revolution.

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Potentials of Vietnam Logistics Industry | ANT Consulting

When Vietnam joins the TPP, Vietnam logistics industry has many opportunities to develop and engage more deeply into the world’s logistics centers…

According to the report of World Bank, the forecasted growth rate between 2015 and 2020 is 12%/year and import export turnover reached 623 billion USD in 2020, Vietnam is a promising destination for investors.

According to the statistics from the Vietnam Logistics Business Association (VLA), Vietnam’s logistics costs accounted for about 25% of GDP per year, much higher than countries such as the US, China or Thailand.

In the coming time when TPP agreement takes effect with many tariffs equal 0%, the export-import operations in Vietnam will promise to develop strongly. This is considered a great opportunity for the logistics industry to “boom”.

As an important link of the economy, the logistics activities help the goods to reach consumers and ensure the materials for the production process.

Despite facing strong competition from foreign rivals, many experts still appreciate the future prospects of the domestic logistics enterprises, especially in the context of free trade agreements (FTAs, TPP) boosted FDI inflows pouring into Vietnam industries.

On the other hand, the increasingly improved infrastructure in Vietnam will strengthen connectivity between logistics facilities and production areas; planning and supporting from the State, along with customs procedures are gradually improving in a positive direction.

In the recent two years, a series of key infrastructure projects have been started and completed as Long Thanh – Dau Giay highway, Noi Bai – Lao Cai highway, Ha Noi – Hai Phong highway, Ben Luc – Long Thanh highway Highway 51 connecting industrial park with the ports and Soai Rap channel dredging works (in Hiep Phuoc port) and Thi Vai – Cai Mep channel…

In addition, the Government and the Ministry of Transport have launched a number of policies to guide, support and stimulate the sustainable development of the domestic logistics industry such as: policy to control road loading, preferential policies for Vietnam ships on domestic routes, the draft to establish port authorities to develop ports and port services, Decision No. 1037/QD-TTg on the port development plan till 2020…

Moreover, according to the General Department of Vietnam Customs, Vietnam is also actively developing and implementing the ASEAN Single Window mechanism. The implementation of this process will benefit the business community, including logistics businesses such as reducing the time taken for administrative procedures and also cost reduction.

However, in order to develop logistics industry, the State should build and complete the legal framework, standardized service processes, upgrading infrastructure and human resources for the field of logistics.

Government should also take measures to guide and promote logistics companies to link together, formed the company with strong capabilities, able to compete with foreign companies.

With the above subjective and objective elements, Vietnam’s logistics industry still have great potential to develop and first of all, they will have conditions to advance to move towards to same level with foreign logistics businesses in the region.

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Transport market in Vietnam – Investment opportunities for foreign investors | ANT Consulting

Currently, Vietnam is considered to have a stable economy and politics, and is gradually becoming an investment destination for many investors in the world. In addition, with the goal of becoming a part of the global supply chain, the transport market in Vietnam is in strong demand to meet the demand for freight transportation of businesses.

As a country with bordering the sea, Vietnam is considered a trading place of Southeast Asia, Asian countries and other countries in the world. The modes of transport include: road, rail, water, air, and pipeline. According to the Strategy of the Government, until 2030, transport enterprises in Vietnam will be developed with the orientation of applying an advanced management model, high business efficiency, competitiveness, and ownership of the domestic transport market, occupying the role of plays an important role in the transport of goods import and export, step by step reaching out to invest and business effectively in the international transport market, the details as follow:

1. To complete the restructuring of state-owned transport enterprises in the direction of accelerating the equitization, reducing the number and proportion of state ownership in transport enterprises, except for the case in transportation business units to ensure national security and social security.

2. To separate the business of railway infrastructure from the transport business into independent enterprises, urgently equitizing the transport enterprises and providing railway transport support services.

iii. To establish a number of large-scale multimodal transport enterprises, capable of carrying out complete transport chains by road – rail – sea or road – waterway – sea, road – airline; strengthen connection of transport services between modes through the connection of service distribution, especially giving priority to the development of the intermodal ticket sale model between modes of passenger transport.

Regarding the implementation of investment in the transport sector for foreign investors, according to the provisions of the WTO and EVFTA services, foreign shipping companies can establish 100% foreign- capital enterprises. Foreign-invested enterprises are allowed to carry out activities including: (i) Marketing and sales maritime transport services through direct contact with customers, from quotation to invoicing; (ii) Acting on behalf of the cargo owners; (iii) Provision of required business information; (iv) Preparation of documentation concerning transport documents including customs documents, or other documents related to the origin and character of the goods transported; and (v) Provision of maritime transport services including cabotage services by Vietnamese flagged vessels for the supply of integrated transport services; (vi) Acting on behalf of the company, organizing the call of the ship or taking over cargoes when required; (vii) Negotiate and sign contracts for road, rail, inland waterways transportation related to cargoes transported by the company.

With the strategy of developing and opening up to attract foreign investors, Vietnam hopes to have more international transport investors to invest, set up company, apply for investment registration certificate for conducting business, to not only develop the transport market in Vietnam, but also bring economic benefits to international investors.

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Italian Business Investing in Binh Duong | ANT Consulting

Ambassador of Italy in Vietnam and Binh Duong provincial leaders have attend the opening of the investment support office of Emilia Romagna (Italy) in Binh Duong.

This is the first representative office of the business community, investors of Emilia Romagna in Vietnam, which functions to create a bridge of cooperation between the two countries and promote Italian businesses to invest in Binh Duong.

On the same day in Binh Duong province, the ceremony to sign a memorandum of cooperation between Becamex IDC Corporation (under Binh Duong Provincial People’s Committee) with the Emilia Romagna region, Bonfiglioli Group and Unimore University (Italy). Content of the memorandum is to cooperate in economy, science, technology and education between the parties.

The Italian Embassy in Vietnam said Emilia Romagna is a dynamic economic region with many Italian famous enterprises in the field of manufacturing industry.

Through the opening of a representative office for the business community in the Binh Duong and signed a cooperation will open more opportunities, create the wave of investments by Italian enterprises to Vietnam in general and Binh Duong in particular.

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Set-up Joint Stock Company in Vietnam | ANT Consulting

Joint Stock Company is an enterprise which has charter capital divided into equal portions called shares. The minimum number of shareholders shall be three and there shall be no restriction on the maximum number.

Shareholders shall be liable for the debts and other property obligations of the enterprise only within the amount of capital contributed to the enterprise.

Joint Stock Companies may issue all types of securities to raise funds. Founding shareholders must together register to subscribe at least twenty per cent (20%) of the number of ordinary shares which may be offered for sale.

The main difference between Joint Stock Company and Limited Liability Company is the Joint Stock Company can raise funds by offering shares or securities. In addition, an enterprise tends to join the Stock exchanges or public company must be a Joint Stock Company. Management system of Joint Stock Company is more complicated than Liability Company.

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Improving Business Environment and Enhancing National Competitiveness in 2018 | ANT Consulting

After four years of implementation of resolutions 19-2016/NQ-CP, 19-2017/NQ-CP, 19-2018/NQ-CP of the Government, business environment and competitiveness of Vietnam have continuously improved.

According to the research, in 2017, the business environment, enhance competitiveness has achieved positive results; National competitiveness increased 5 levels compared to 2016 (increased from 60/138 to 55/137); business environment increased 14 levels (increased from 82/190 to 68/190 economy); Innovative innovation improved 12 levels, reaching the rank of 47/127 economy. These are the highest rankings that Vietnam has achieved so far.

Continuing to follow the assessment objects of World Bank’s business environment, the enhance competitiveness of the World Economic Forum, World Intellectual Property Organization, etc., to achieve the targets set for 2020, the quality of a business environment of Vietnam is on par with the average of ASEAN 4.

The target for 2018 will improve the business environment index from 8 to 18, which focuses on improving business start-up and dispute resolution. Complete the abolition, simplification of investment conditions, business. Limit the specialized inspection according to goods and products; strongly transform the way state management from pre-inspection to post-inspection. Improve the application of information technology in administrative procedures and online services. Enhance the competitiveness of the tourism industry, logistic services to facilitate and reduce business costs.

In order to achieve the above objectives, resolution 19/2018/NQ-CP provides basic solutions and assigned tasks to each agency and coordinated implementation to achieve the targets set in 2018, bringing Vietnam’s ranking to the top of the charts. Accordingly, ministries and agencies shall develop action plans, define specific objectives, tasks and responsibilities, monitor and evaluate them. Carrying out reform of administrative procedures and application of information technology in public services; to carry out the inspection, examination and audit in a uniform manner, avoid overlapping, affecting the operation of enterprises, create a competitive environment, promote transparency and market development of testing and inspection services, inspection, certification.

Specific mandates for ministries: Ministry of Planning and Investment (focusing on activities related to enterprises); Ministry of Justice (elaborate a plan on improving the law on contracts and civil dispute resolution by non-court proceedings); Ministry of Finance (dealing with tax issues, improving tax index, business start-up index); Ministry of Transport (offering solutions, reducing costs, developing logistics infrastructure) and other ministries such as the Ministry of Culture, Sports and Tourism; Ministry of Public Security; Ministry of Industry and Trade and other ministries such as Ministry of Science and Technology, Ministry of Information and Communication; Ministry of Natural Resources and Environment; Ministry of Health, Ministry of Construction; Ministry of Agriculture and Rural Development … to coordinate to achieve the objectives set out in the resolution.

These are the policies which Vietnam government has been focusing on and will legalize in regulations to implement in practice.

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