WB report: VN’s efforts in business-friendly regulatory environment

10:33 | 30/10/2014

VGP – Viet Nam ranks 72 out of 189 economies in the business-friendly regulatory environment list in 2014 released by the World Bank Group on October 29.

The nation’s improvement in national credit information system as well as reduction of credit interest rate and corporate income tax rate has helped raise its status.

Since 2005, the East Asia and the Pacific region has narrowed the gap with global good practices, said Rita Ramalho, Doing Business report lead author, World Bank Group.

She added that consistent regulatory reforms have improved the ease of doing business in the region in the past decade, and contributed to more business opportunities for local entrepreneurs.

The annual World Bank Group flagship Doing Business report analyzes regulations that apply to an economy’s businesses during their life cycle, including start-up and operations, trading across borders, paying taxes, and resolving insolvency.

The report this year also expands the data for three of the 10 topics covered, and there are plans to do so for five more topics next year.

By Thuy Dung