Annual Business Report 2012 publicized

The report reviews developments in economic growth, export-import balance, foreign investment attraction and changes of the world market.

According to the report, by April 1, 2012, Viet Nam was home to over 312,000 businesses, of which more than 80% are operating in the form of limited liability or joint stock companies.

Local businesses showed a down-sizing trend in workforce, from an average 74 employees in 2002 to 34 in 2011, but their capital increased, from VND23 billion to VND47 billion during the same period.

The report proposed recommendations to policy makers on how to improve the business environment and suggestions for enterprises to raise their competitive edge.

It also reflects the business community’s wish that the Government will speed up administrative reform and build a transparent investment and business environment.

The document suggested local authorities should focus on improving management capacity and assisting businesses in the localities.

The World Bank chief economist for Viet Nam, Deepak Mishra stressed that the WB and the VCCI share the vision on as well as the common goal to spur the business environment in Viet Nam./.