(VOVworld) - 2017 is expected to see brighter economic prospects as a result of Government pro-business policies.

A supportive industry business (Source: VNA)

Vietnam has jumped 9 notches over the past year in the business environment ranking, according to the World Bank’s Doing Business 2017 report. Reform in customs and trade services also drove Vietnam up 14 notches in the 2016 Enabling Trade Index by the World Economic Forum.

Last November, the National Assembly slashed 41 conditional business lines and will continue to remove business barriers. Hoang Tien Dien, President of the Ko Ko company is optimistic about Vietnam’s economic prospects in 2017: "In addition to Government incentives, banks are creating optimal conditions for businesses to secure loans. I believe the economy will grow more strongly than last year.”

Bui Ngoc Tuong, President of the Hung Thanh Safe Water Investment company hopes that the National Assembly will pass the Law on Small and Medium Businesses in 2017 and that the Government will support businesses more in investment and land for production:“The Government should further streamline administrative procedures and create more incentives in capital access, interest rates and land. I believe that Vietnamese businesses will grow rapidly in the near future.”

Mac Quoc Anh, Director General of the MAC company recommends that credit guarantee and science and technology foundations be privatized to provide more capital to businesses:“We hope that the forex market and interest rates will be stable in 2017 to help exporters. 2017 will see growth with pro-business policies and Vietnam’s hosting of the APEC Year.”

President of the Vietnam Chamber of Commerce and Industry  Vu Tien Loc said that there will be both opportunities and challenges in 2017. The business community should adapt to globalization and prepare for the 4^th industrial revolution:“I hope domestic businesses will be more creative and dynamic for better integration and competition in the global market. Creativity and innovation, which  are crucial for all businesses, will help achieve the goal of 1 million startups by 2020”.