People are 'afraid' of doing business so bank deposits are at a record high. Will resolution 68 be different?

Nghị quyết 68 - Ảnh 1. — Mr. Pham Tan Cong - Chairman of VCCI - Photo: VGP

Investment projects using land must follow the procedures of at least 12 laws and more than 20 decrees and circulars.

Mr. Pham Tan Cong - Chairman of VCCI - made the above statement when participating in a discussion on Resolution 68 organized by the Government on May 31.

Representing the Vietnam Federation of Commerce and Industry , Mr. Cong said that the business community is very excited about Resolution 68. It can be said that the spirit of the business community and enterprises has never been as high as it is now.

"Resolution 68 raises very difficult and sensitive issues such as criminalization so that people and businesses can feel secure investing in production and business," said Mr. Cong.

In the coming time, Mr. Cong expects that many major barriers will be removed. These include institutional bottlenecks, policies and administrative procedures. Currently, there are many inappropriate business conditions and administrative procedures that need to be reduced or simplified.

The Chairman of VCCI cited a typical land-using investment project that is currently carrying out administrative procedures under at least 12 laws, more than 20 decrees and circulars, and these circulars are often constantly changing. Therefore, the time to complete the quick procedures is also 18-24 months, normally approximately 3 years.

Currently, the Government and the Prime Minister have been very determined in reforming administrative procedures and the situation has been continuously improved. Mr. Cong hopes that the reform of administrative procedures will continue to be promoted.

The second is the psychological, ideological, ethical, and cultural barriers of the business community and enterprises themselves. Mr. Cong pointed out that there is a mindset that "enterprises do not want to grow" and people are hesitant to invest money in business. Therefore, there is a phenomenon of high deposits in banks as it is today.

However, according to Mr. Cong, Resolution 68 has broken the mentality of not wanting to grow. And the proof is that recently two large domestic enterprises have boldly proposed to invest in the high-speed railway project, showing that enterprises are no longer hesitant and they accept that doing business will indeed have risks.

Another barrier mentioned by the VCCI president is that a small number of entrepreneurs and businesses still have the mindset of getting rich and making profits illegally and unethically. We are currently seeing cases being discovered, especially in food and medicine.

Still stuck on procedures

At the discussion, Mr. Nguyen Quoc Hiep - Chairman of the Vietnam Contractors Association - said that Resolution 68 requires enterprises to be service objects instead of management objects. This is an issue that all enterprises are very interested in. However, how to change those four words in the implementation document is a revolution in thinking and awareness for our civil servants today.

Mr. Hiep said that he had met in a locality, when bidding for a project with land use rights, because the guiding decrees were not clear, the local authority required the enterprise to ask the Ministry of Planning and Investment, directly the Bidding Department and the Legal Department, it took 5 months to respond but still could not give a clear answer because the document did not go directly to the issue, only cited the law and required the locality to apply it.

After 5 months, Mr. Hiep asked the Ministry of Agriculture and Environment to process it. So it took 7 months and the business had to wait for unclear procedures and documents. From a service perspective, Mr. Hiep thinks that the response should have been sooner.

Based on the above reality, Mr. Hiep proposed that every 6 months, localities should hold meetings with investment, production and business enterprises in the area in each field to give suggestions to the public authority on administrative procedures that need to be learned from and changes in management and operation.

In addition, Mr. Hiep reflected that in the process of applying new laws, the Government issued decrees and circulars with specific instructions, but some documents had regulations that were not really reasonable and accurate when applied to specific cases.

For example, Decree 103 on guidelines for land use fee collection for enterprises is still very inadequate and unreasonable because enterprises are not allowed to participate in land valuation, but when land valuation is delayed, enterprises must pay additional fees. This is an amount of money that enterprises consider extremely inadequate and hope that the Prime Minister will resolve this issue.

Back to topic

BINH KHANH

Source: https://tuoitre.vn/dan-ngai-kinh-doanh-nen-tien-gui-ngan-hang-cao-ki-luc-co-nghi-quyet-68-se-khac-20250531171541753.htm