Vietnam Aims for Double-Digit Growth Through Administrative Procedure Simplification

The Vietnamese government is determined to drive double-digit growth by promoting substantive and comprehensive reforms of administrative procedures, aiming to improve the business environment. Resolution No. 258/NQ-CP, dated August 31, calls for reforms focused on maximum cuts and simplification of administrative procedures and business conditions. It also aims to shift management from pre-licensing inspection to post-licensing inspection based on risk management, strengthen real-time, data-driven oversight, and place people and businesses at the center of public services. These reforms are expected to meet the demand for deeper administrative reforms sought by foreign direct investment (FDI) businesses. Under its one-party system, Vietnam has consistently prioritized economic growth and worked to improve its environment for attracting foreign investment. Streamlining cumbersome administrative procedures has been a long-standing challenge in this regard. Legislators are reviewing bills aimed at streamlining administrative procedures in agriculture and environmental sectors. Furthermore, Da Nang city has completed a special administrative framework for its free trade zone, which is anticipated to boost regional economic vitality and enhance international competitiveness. While maintaining complex relations with China, Vietnam recognizes the need to deepen cooperation with the international community for economic growth. Simplifying administrative procedures is seen as a crucial step towards strengthening Vietnam's role in global supply chains and attracting further investment. Information source: VietnamPlus English