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The risk of re-establishing business barriers “makes it difficult” for businesses

Promote business flow

Number new established business In the first quarter of 2022, there were nearly 35,000 businesses, an increase of more than 18% compared to the same period in 2021 and the highest level in the first quarter ever. This indicator shows that businesses are gradually recovering.

Along with the recovery of the market, the policies to support businesses in the past time have had a significant impact. However, apart from economic recovery packages, one of the things businesses look forward to the most is the improve the business environment. This is also one of the important contents in Resolution 128 of the Government.

It is only when barriers are removed that business flows smoothly. Recently, VCCI has released a business law flow report showing that there are still many problems in removing barriers to business.

The risk of re-establishing business barriers

In addition to economic recovery packages, one of the things businesses look forward to the most is the improvement of the business environment. (Illustration image – Photo: Investment Newspaper)

Most ministries have developed a compliance cost reduction plan with the goal of reducing compliance costs by at least 20% in the current legislation. The business environment has also been more favorable from these proposed cuts.

However, as noted by VCCI, in the reduction proposals of a number of ministries, sectors and businesses, still seeing the formality, there are still many regulations that cause difficulties for businesses that have not been handled. While the Government has many strong institutional reform programs and wants to upgrade Vietnam’s business environment to the top in the region, there is still a situation where documents are issued creating barriers. is a new burden for businesses.

The risk of many barriers to re-establishment

In policy-making activities in 2021, there is concern that there seems to be a tendency to tighten management in some industries and fields. This even happened in some industries and professions that were once highly appreciated for their achievements in reforming business conditions. There are currently proposals to reintroduce inappropriate business conditions and administrative procedures that were previously removed or changed.

Minimum scale, minimum capacity… the regulations containing business conditions have been abolished by Decree 107 on rice export business. This is the driving force for businesses to participate more in the market, creating the basis for Vietnam to become the world’s leading rice exporter. But these regulations are coming back in the draft decree amending Decree 107.

Mr. Dau Anh Tuan – Head of Legal Department, Vietnam Chamber of Commerce and Industry said: “There are many decrees that have proven to be very successful, which are well received by businesses and create important impetus for business activities. But now it is being proposed in the direction of being stricter and more difficult for businesses, so we are very concerned and hope this is just a minority.”

The risk of re-establishing business barriers

It is only when barriers are removed that business flows smoothly. Illustration.

The proposal to develop a Law on Price also improves the conditions on personnel for the legal representative to be granted a price appraisal card in all areas of property; Minimum number of price appraisers is required for valuation enterprises in each field of operation. This is also a business condition.

“Reform has been difficult, but preserving reform results is not easy, continuing to maintain the speed and quality of reform will bring more sustainable effects,” said Virginia Foote – Vice President of the American Chamber of Commerce. in Vietnam said.

Removing business barriers is not easy if you only see business conditions as a tool for management, but do not see it as a barrier to development – especially in the context that the business community has been criticized. exhausted due to the recent pandemic

Legal framework to encourage innovation

Each barrier removed is an additional opportunity for business. At the same time, if you want to develop, you need to encourage new models and new ways of doing business. To do so, the legal framework must be built appropriately and keep pace with development

Turning his business into the second Vietnamese unicorn – a startup valued at billions of dollars, Nguyen Thanh Trung has entered the top 10 most influential people in the crypto world in the past year. But he is always troubled because although established and operated by Vietnamese people, he has to choose to register his business in Singapore.

Encouraging the development of new business models and new ways of doing business still faces difficulties in terms of the legal framework. After many years of arguing over the legal framework for technology vehicles, the most recent draft of the Road Law classifies both taxis and technology vehicles into one category.

Dr. Nguyen Minh Thao – Head of Business Environment and Competitiveness Department, CIEM said: “The institution to attract innovation in Vietnam is not attractive enough for businesses when they implement their ideas. new businesses, new industries they face many barriers”.

Reform is non-stop but when we reform, other countries also continuously reform. Therefore, not only must you be better with yourself, you need to have reforms to keep up with the development, especially new development trends.

In 2020, attracting investment to start-ups will only stop at nearly $320 million. However, just the following year, that number more than quadrupled at $1.3 billion. Opportunities and potentials are at hand, but capturing them depends on the legal framework for innovation.

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