Efforts to achieve the target of double-digit economic growth in the 2026-2030 period demand more substantial institutional reforms. At the "Double-Digit Growth - The Driving Force from Businesses" workshop in Hanoi, delegates emphasized that the gap between central policy and field implementation remains a major obstacle for the business community.
The government itself has shown a strong commitment through Conclusion No. 18-KL/TW with the target of cutting administrative procedures and public investment projects by 30 to 40 percent. Concrete steps have been taken through the issuance of hundreds of legal documents that have successfully reduced compliance time and business operational costs significantly. Nonetheless, businesses still report around 900 barriers that often arise in the form of overlapping new regulations.
Dau Anh Tuan from VCCI highlighted the phenomenon of 'shadow regulations', where abolished requirements often mutate into new, more complex technical standards. This condition creates a confusing legal vacuum for businesses. In addition, the lack of uniformity in implementation between regions and bureaucratic practices that restrict investment applications are real challenges that must be addressed immediately.
Responding to these issues, policy experts and representatives of associations such as VASEP and HoREA urged the active participation of the business community in drafting regulations. Decentralization accompanied by improving the quality of human resources at the local level is deemed necessary to avoid administrative gridlocks. Experts also proposed the formation of a special task force with direct authority to mediate and resolve business barrier complaints efficiently.
Institutional reform is not a one-time process, but a continuous effort to unleash the potential of the private sector. By aligning the spirit of reform from the center down to local government units and consolidating legal documents, it is hoped that the investment climate will be more open, transparent, and capable of supporting future national economic ambitions.
