BizLIVE - Vietnam takes the 90th position amongst the 189 countries in terms of business environment, according to the World Bank’s “Doing Business 2016” report.
Vietnam Ranked 90th Globally regarding Ease of Doing Business: WB Report
People doing paperwork at an administrative center. (Photo: Internet)
The rank is seen as an improvement as Vietnam’s comparable DB2015 rank would be 93 if it captured the effects of such factors as data revisions and the changes in methodology, the report says.
Vietnam’s rank is higher than the average of 96 of the East Asia & Pacific region. The country comes before the Philippines, Indonesia and Laos, but after Malaysia, Thailand, and China.
Out of the 11 indicator sets used to determine each economy’s rank, Vietnam made improvements in Starting a business, Dealing with construction permits, Getting electricity and Getting credit.
Meanwhile, the country saw deterioration in Registering property, Resolving insolvency, Enforcing contracts, Trading across borders, Paying taxes and Protecting minority investors.
Vietnam is among the countries with the most reforms carried out. It has implemented reforms in guaranteeing borrowers’ right to inspect their credit data and the newly-established credit bureau expanded borrower coverage, the World Bank said.