In its latest Ease of Doing Business report, Vietnam achieved the ranking of 90 out of 189 countries, three position up from its previous year ranking. This places Vietnam on rank fifth among ASEAN nations, behind Singapore, Malaysia, Thailand and Brunei Darussalam. The area which Vietnam saw the most improvement was the availability of electricity.
There has also been a reduction of corporate income tax and a reduction of procedures for filling VAT and social contribution forms that have resulted in more attractive business environment. As for Vietnam’s the process of starting a company, the government accelerated the seal registration process.
Content Creative: Sebastian Schirner, Knowledge Center Intern @ C asean | Reference: C asean analysis based on data from World Bank and KPMG