Vietnam will have introduced about 20 new laws to creating an equal and transparent playing field for all investors and entrepreneurs by the year end
ANSWER TO CORRESPONDENTS BY MR. LE DZUNG, THE SPOKESMAN
OF THE VIETNAMESE MINISTRY OF FOREIGN AFFAIRS
ON 22nd NOVEMBER 2005
Question: What, if any, individual pieces of legislation designed to meet WTO entry requirements have helped the business environment in themselves?
Answer:
Acknowledging opportunities and challenges in joining the WTO, Vietnam has worked hard at home to restructure the economy in order to improve its competitiveness and participate effectively in the WTO in the coming time. The state sector has been streamlined and rearranged. Now there remain only about 4,000 state-owned enterprises (SOE), compared to 12,000 some years ago, in which 1,000 have been equitized.
In order to implement fully its international commitments, especially those in the WTO, Vietnam pays special attention to the domestic legislative agenda. Several laws including the Law on Competition have recently been promulgated, helping create a fair competitive environment for all economic sectors. By the end of this year, Vietnam will have introduced about 20 new laws, including the Unified Enterprise Law and the Common Investment Law, with a view to eliminating overlapping investment and business procedures and streamlining them, thereby creating an equal and transparent playing field for all investors and entrepreneurs./.
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