Key improvements outlined for robust business climate

High targets have been set for improving the domestic investment and business climate, with the government aiming to turn Vietnam into a more attractive destination for international funding.

- By Nguyen Dat

Efforts are being made to improve the business environment even further across sectors

The government last week put into effect Resolution No.02/NQ-CP on improving Vietnam's business environment and national competitiveness.

The prime target of the resolution is to “make strong improvements to the quality of its investment and business environment, in line with domestic conditions and global development trends, with a view to enhancing the country's standing in international rankings”.

The government will also create a more competitive, healthy investment and business environment, ensuring openness, transparency, and stability, lowering compliance costs, in line with international best practices, and encouraging innovation and creativity. “These efforts aim to unlock productive capacity, mobilise all available resources and create new drivers for national development,” it said.

Resolution 02 has set out some key goals and tasks for 2026 (see boxes). “In 2026, efforts will focus on comprehensively and synchronously improving the investment and business climate in all areas - from mechanisms, policies, and administrative procedures to digital platform development and stronger implementation capacity,” stated Prime Minister Pham Minh Chinh. “This will lay a solid foundation for all economic sectors to develop sustainably over the long term, cooperate and compete fairly, and gain equitable, transparent access to resources, markets, and development opportunities.”

Facilitating enterprises

The PM also stressed that priority will be placed on new productive forces and modes of production, “with a strong emphasis on developing the digital economy, green economy and circular economy, alongside building a digital society that is environmentally friendly and ecologically sustainable.”