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Prime Minister initiates revamp aimed at enhancing business conditions

Officials are planning to create actionable suggestions to tackle current hurdles, strengthen governing regulations, quickly address corporate critiques, and eliminate hindrances that impede business growth.

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Government entities plan to create actionable strategies to enhance regulation, boost regulations’...
Government entities plan to create actionable strategies to enhance regulation, boost regulations’ effectiveness, swiftly address business critiques, and eradicate hurdles obstructing business growth.

Prime Minister initiates revamp aimed at enhancing business conditions

Heyo pal! So your PM, Pham Minh Chinh, has issued a new dispatch to shake things up and create a better environment for investments and businesses here in good ol' Vietnam.

Here's the deets:

The dispatch (dispatch No. 63/CĐ-TTg, for all you bureaucrats out there) instructs various departments, agencies, and city/province committees to analyze the 2024 Provincial Competitiveness Index (PCI) Report. The goal? To identify the current limitations, improve governance standards, respond swiftly to business feedback, and remove any obstacles that might be holding back businesses.

That's not all—the dispatch also emphasizes the need for robust measures to amplify governance capacity, enhance the economy, and improve the investment and business landscape, focusing on sustainable development and environmental stewardship.

But wait, there's more! The PM's also taking a hard stance on improving public service delivery. Government bods, civil servants, and public employees are expected to switch gears and provide a more service-oriented approach, with those breaking the rules facing strict disciplinary action. No messing around, see!

On top of that, relevant agencies are tasked with implementing measures to boost domestic businesses, enhance production capabilities, and link foreign-invested firms to domestic ones. Human resource development is also a priority, with a focus on technical and supervisory roles through collaborations with educational institutions, training centers, and internship programs.

The Ministry of Finance will coordinate with the Chamber of Commerce and Industry (VCCI) and other agencies to develop policy recommendations, which will be presented at the Government's regular cabinet session in June.

Lastly, the dispatch urges the VCCI to stay proactive in identifying the challenges businesses face and to provide policy, legal, and strategic recommendations to the PM. The VCCI is supposed to team up with ministries, sectors, and local authorities to launch initiatives that foster the growth of the private sector.

In a nutshell, the PM's dispatch focuses on enhancing governance, promoting sustainable development, and boosting human resource development to create a more attractive investment and business environment in Vietnam. He's committed to eliminating unofficial payments, improving transparency, and encouraging a more service-oriented approach among government bodies and employees.

Garment production at a plant of Maxport in Thái Bình Province. Prime Minister Phạm Minh Chính has issued an official dispatch to hasten efforts to foster a more favourable environment for investment and business operations. - VNA/VNS Photo Thế Duyệt

Sources:1. VNS2. Vietnam Investment Review3. Vietnam Insider4. Saigon Times5. VNA

Let's hope these efforts pay off and bring more stability and growth to this beautiful country! Let's party like it's 2024!

  1. The new dispatch issued by Prime Minister Pham Minh Chinh aims to improve the environmental conditions for investments and businesses in Vietnam.
  2. To achieve this, various departments are instructed to analyze the 2024 Provincial Competitiveness Index (PCI) Report, remove obstacles, and improve governance standards.
  3. The dispatch also emphasizes the need for sustainable development, environmental stewardship, and robust measures to enhance the economy and investment landscape.
  4. The government is taking steps to improve public service delivery, with a service-oriented approach expected from government bodies, civil servants, and public employees.
  5. Relevant agencies are tasked with boosting domestic businesses, enhancing production capabilities, and linking foreign-invested firms to domestic ones, with a focus on technical and supervisory roles through collaborations with educational institutions.
  6. The Ministry of Finance, along with the Chamber of Commerce and Industry, will develop policy recommendations to be presented at the Government's regular cabinet session in June, aiming to foster the growth of the private sector.

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