The report, jointly announced on November 4 by the World Bank and the International Finance Corporation (IFC), said that Vietnam is the second nation after China in East Asia that has made consecutive improvement in its business environment over the past five years.

The report also revealed that with the one-door policy, Vietnam’s reform has focused on business establishment, taxation, construction permits and access to credit over the past year.

The WB and IFC representatives said they are optimistic about Vietnam’s results, gained through executing administrative reforms within the framework of the Government’s project 30.

Ngo Hai Phan from the project’s special task group said administrative reform has helped save hundreds of millions of USD for businesses each year.

The report covered nine indicator sets in 183 economies, namely, starting a business, dealing with construction permits, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and closing a business.