Can Vietnam’s bureaucracy reform boost investment amid growth threats?

Vietnam’s drive to energise its economy may take time to materialise in the face of rising fuel costs and trade barriers, analysts say Last month, the government issued eight resolutions to cut 680 administrative procedures and simplify hundreds more to speed up approvals for new businesses in sectors ranging from casinos to importing cars. A blizzard of draft decrees aimed at slashing red tape is queuing up for approval by a government that has already reduced the number of ministries by a quarter and slimmed down the civil service. “Vietnam’s government has recently issued a slew of resolutions and directives to cut administrative procedures and simplify business conditions,” said Heng Jian Xin, senior country risk analyst at BMI, a unit of Fitch Solutions.

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