PM calls for further improvement of investment environment

Prime Minister Nguyen Xuan Phuc has called for further efforts to improve the investment environment, particularly reducing administrative procedures as committed by ministries and sectors.

Mr. Phuc made the request at a regular government meeting in Hanoi on Saturday: It's necessary to cut down half of procedures. Many ministries have done this just for the sake of doing it, making it difficult for businesses. Although the Resolution 19 states specific targets, sectors and ministries take more drastic actions. We have discussed this issue to create a better investment environment and achieve the goal of 1 million businesses by 2020.

Prime Minister Phuc said positive changes were recorded in socio-economic performance in April and May. The Purchasing Managers' Index (PMI), an indicator of economic health for manufacturing and service sectors, increased 53.9 points in May, the highest increase in ASEAN. He praised agricultural production with an increase of 1.1 million tons of rice in winter-spring crop and higher rice price. PM Phuc stressed the need to curb inflation below 4% and asked for preparations for reviews of socio-economic performance in the first half of this year.

Source: VOV5