In response to growing concerns over lagging competitiveness, Vietnamese authorities have begun the process of revamping numerous aspects of their investment environment. The most recent reform is Resolution No. 1134/QD-BTC, issued by Vietnam’s Ministry of Finance on 23 May 2016. This document details Vietnam’s national strategy to implement Resolution No. 19/NQ-CP and No. 19-2016/NQ-CP, which are earlier versions of the government’s plan to update the way business is conducted and thereby improve the status of the Vietnamese market in relation to its regional competition by 2020.
The resolution heavily focuses on simplifying the customs and tax code, switching to electronic databases, and identifying the logistics of the one-stop mechanism. If successfully carried out, these proposals will drastically decrease the cost and time involved in doing business in Vietnam.
Source : http://www.vietnam-briefing.com/
Keyword : Vietnam Outlines Customs, and Tax Plans, to Enhance, Competitiveness.
