Vietnam drops one place in WB’s Doing Business 2019

Vietnam ranks 69 over 190 countries in the World Banks’ Doing Business 2019: Training for Reform, dropping one place compared to last year.

Vietnam drops one place in WB’s Doing Business 2019

The index measures reforms in 10 areas including starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency, and labor market regulation.
The Doing Business 2019 report recorded that 43 reforms in East Asian- Pacific economies benefit small and medium business and entrepreneurs. The report showed a new order emerging near the top:
Singapore and Hong Kong are ranked among ten leading economies in business environment in the report.
Indonesia and Vietnam carried out three reforms each during the past year. In Indonesia, the reforms were aimed at easing the processes for starting a business, registering property, and improving access to credit.
In Vietnam, improvements were made to make it easier to enforce contracts, pay taxes and start a business.
Of ten reforms, Vietnam had low rankings in paying taxes and enforcing contracts . Paying taxes, electricity connection, construction permits, resolving insolvency and starting a business went up while ranking of trading across border and accessing credit maintained.
Though Vietnam has made improvements, it lags behind other economies with strong reforms such as Singapore, Malaysia, Thailand and Brunei.

By CHE HAN - Translated by UYEN PHUONG

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