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THE PROSPECT FOR DOING BUSINESS OF VIETNAM IN 2012 - FROM THE PERSPECTIVE OF WORLD BANK

NGO THI THU TRA & PHAN NGOC THANG– Forecast and Monetary statistic - State Bank of Vietnam

In the context of economic - social difficulties, complicated by adverse effects from the global economy and from the intrinsic limitations, in recent years, the Government, the Ministry, the branch and locality are efforts to promote administrative reform, including institutional, organizational structure, administrative procedures, and public finance.

However, according to the Government, despite achieving some results, but the reform has not gotten the requirements. Many administrative procedures are complex and inconvenient for the people and businesses; the apparatus is still overlapped of functions, responsibilities, the regime of responsibility is not clear; unreasonable and delay adjustment, remedy both at central and local. (Notification 27/TB-VPCP dated on January 30, 2012 about reporting the conclusions of the Prime Minister at the Conference on deploying of the Interior mission in 2012 and the overall program for State administration reform in the period of section 2011 - 2020 –http://www.chinhphu.vn)

Recently, the World Bank (WB) has announced the Evaluation Report about ranking the Doing business 2012 (Doing business 2012 – Doing Business in a more transparent World). According to the results evaluated in this report, ranking the business environment in Vietnam has slipped eight grades; from position 90 to position 98 of a total of 183 countries (economies) are ranked by The World Bank. 

This article analyzes some causes for the business environment in Vietnam which relegated from the previous year, according to the WB and raised a number of recommendations to aim toward improving the business environment in Vietnam.

Objectives and contents of the Report ranked the Doing business of the World Bank

Doing Business of The World Bank is the report of the survey results , a survey by the World Bank team is made every year about the regulations of the countries with the effect of promoting or controlling business activities in that country. The report makes the quantitative indicators to assess the specific problem that is said to be most important in the formation and facilitate the doing business of a country on the basis of the points and comparison in the relationship between 183 countries (economies) were surveyed, from Afghanistan to Zimbabwe over time. On that basis, the sum of ratings for each individual field and the overall ranking for each country. General index is sum up the individual evaluative indicators, it reflects the stipulating policy of business and the issues of protection of property rights that is compared 183 countries over time, reflecting over 10 specific following areas:

- Starting a business

- Getting electricity

- Dealing with construction Permits

- Registering Property

- Getting credit – Protecting Investors

- Paying taxes

- Trading Across Borders

- Enforcing Contracts

- Resolving Insolvency

Evaluation Report on ranking the doing business 2012 is the ninth annual report, based on data up to the date on June 01, 2011. In the context of economic and financial crisis worldwide, many countries are trying to implement reform, restructure the economy, improve the doing business. Some countries have achieved significant progress in improving the doing business.

SOURCE: BANKING MAGAZINE NO. 5/2012

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