Vietnamese business; its all in the way you think (24/07)
06/08/2010 - 147 Lượt xem
A recent survey by World Bank on hindrances to global enterprises shed some light on interesting facts in the way people think about business and corruption in different regions compared to Vietnam
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The results of the survey showed that while 37 percent of global enterprises and 29 percent of East Asian companies see corruption as hindrance to development, only 12.8 percent of Vietnamese enterprises share this thinking. Many still sees the going through back doors and using sweeteners like gifts and money as effective methods to do business in Vietnam, when in reality, it impedes overall development. Another part of the problem involves the cumbersome permit system that is accepted in Vietnam as fait accompli, despite the fact that they are the main hindrances for economic development and investment attraction. Many foreign investors complain about the matter but only 1.4 percent of Vietnamese companies raised concerns. Domestic enterprises also consider interference by administrative officials as part of the process, which is clearly a detriment to efforts to renew the existing bureaucratic administrative system. An on-going plan to promote the one-door policy may be ephemeral if the business community continues with this line of thinking. Regarding financial assistance, 37.4 percent of Vietnamese enterprises consider this lack as a hindrance to development, especially for private business. This contrasts with the East Asian rate for financial assistance, at 17.1 percent. Vietnam enterprises also face difficulties in mortgaging land with 26.4 percent domestic enterprises complaining about the difficulties while the rate in East Asia and the world are 9.9 and 14.5 percent respectively. Similarly, 40.2 percent of enterprises worldwide, and 34.1 percent in East Asia consider macroeconomic stability instrumental to their development while only 16.8 percent of Vietnamese ventures see this way. The survey results signal that the domestic legal framework and macroeconomic policies have so far failed to benefit the business community. |
This explains why only 5.5 percent of Vietnamese enterprises pay attention to the nation’s legal system while the same number in the world and East Asia is 21.6 and 27.3 percent Source: ThanhnienOnline
