Although the country has witnessed impressive economic transformation in the last three decades, there was still work that government leaders need to do to promote its ongoing push for reforms, said Yun Liu, an economist with HSBC Global Research.Improving the business environment should be a priority, she told VnExpress International, adding: “To encourage private investor participation, more reforms are needed to address lingering issues and create a better investment climate.”Business leaders have repeatedly said that going through the complicated paperwork process remains one of the biggest challenges they face in Vietnam.Do Trong Khoa, chairman of construction firm Hong Linh Investment and Tourism in the central province of Ha Tinh, told local media that there are times when the implementation of a decision by provincial authorities takes several months, unduly delaying the company’s projects.Other companies said they expect more fairness from the new administration. Le Duy Binh, CEO of Hanoi-based consultancy firm Economica Vietnam, said the government should refrain from interfering with businesses’ decisions to ensure a free market.It should issue policies that benefit all three sectors of the economy, state-owned enterprises, private companies and foreign direct investment companies, he added.Andrew Jeffries, ADB country director for Vietnam, said a level playing… Read full this story
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