Too many inspections irk businesses: VCCI official
The bigger businesses are, the more inspections they face, said Dau Anh Tuan, vice secretary-general of the Vietnam Chamber of Commerce and Industry (VCCI).
“This goes agaisnt economic rules and discourages enterprises,” Tuan, also director of the chamber's legal department, told the Forum on Repositioning Businesses for Sustainable Development in Hanoi on Thursday.
Tuan said the economy has shown very difficult signals right from the fourth quarter of 2022, when the export growth rate of many industries declined, the unemployment rate increased, and many companies began to lay off workers.
Especially, with unstable global financial markets and challenges from the application of the Global Minimum Tax, Vietnam's competitiveness will increasingly drop, he said.
Tuan cited that in 2022, despite an increase in the realized foreign direct investment (FDI), the registered amount fell, showing that risks have been turned into visible challenges.
A national economy can develop strongly only when there is a strong domestic private sector. However, Vietnam still lacks drastic reforms to support businesses, while having many regulations empowering civil servants to enforce the law.
"Surveys show the more businesses develop, the higher costs they pay for administrative procedures and the more inspections they face. That does not create motivation for them. Meanwhile, under economic rules, the larger enterprises are, the lower administrative procedure costs they pay," said Tuan.

Dau Anh Tuan, vice secretary-general of the VCCI. Photo by The Investor/Dinh Vu.
In order to further promote the domestic private economic sector, the VCCI official said it is necessary to speed up the reform of administrative procedures in all agencies and at all levels. This solution will help businesses reduce costs and ensure fairness toward more sustainable development goals.
He also emphasized the need to boost the substantive application of information technology; increase stability and predictability of legal policies; promote the role of markets, including the gasoline market; and devise measures to attract foreign investment.

Lam Thuy Nga, head of large corporate, wholesale banking at HSBC Vietnam. Photo by The Investor/Dinh Vu.
Lam Thuy Nga, head of large corporate, wholesale banking at HSBC Vietnam, said: “Amid the rapidly changing world, we need to build an environment in which the government has specific guidelines and orientations to help businesses, especially medium and small ones, be aware of the importance of repositioning their business activities through innovation in order to promptly seize new opportunities.”
Businesses themselves must actively learn from each other’s experience as well as from domestic and international consulting organizations; update the world's business and investment trends, new requirements of consumers and advanced technologies to flexibly apply to business activities for improved labor productivity, quality and added value of products and services.
Investing in R&D activities has been proved in many countries as a catalyst for successful innovation, she noted.
Currently, Vietnam is a leading country in the world in importing high technologies. As the world changes, as one of the fastest growing, most dynamic and open economies, Vietnam cannot stand still. “If businesses make good use of Vietnam's unique advantages and move faster, they can create many great values in innovation,” Nga added.
- Read More
Honda cements Vietnam motorbike market dominance with 10% sales growth
Honda Vietnam (HVN) reported a 10% year-on-year increase in motorcycle sales to nearly 2.3 million units in fiscal year 2025, which ended on March 31, according to the company’s annual report.
Companies - Tue, July 15, 2025 | 5:42 pm GMT+7
Foreign investors net buy over $497 mln on Vietnam's stock market from July 1-15
VN-Index, which represents the Ho Chi Minh Stock Exchange, dropped by 9.77 points to 1,460.8 on Tuesday, ending its seven-session gaining streak.
Finance - Tue, July 15, 2025 | 5:13 pm GMT+7
UPS eyes opportunities in Vietnam's free trade zone, airport projects
Leading global shipping and logistics firm UPS is eyeing business opportunities at the Danang city-based free trade zone and the Long Thanh International Airport in Dong Nai province.
Economy - Tue, July 15, 2025 | 3:58 pm GMT+7
Vietnam PM asks Marubeni to expand investment in gas-fired, offshore wind power
Marubeni should expand its activities in Vietnam in the fields of gas-fired and offshore wind power, export of electricity to ASEAN countries, and development of AI and big data, said Prime Minister Pham Minh Chinh.
Economy - Tue, July 15, 2025 | 12:21 pm GMT+7
Vietnam’s wood pellet industry needs production standardization to meet global demand: experts
Businesses should invest in developing dedicated raw material zones to reduce the Vietnamese wood pellet industry’s reliance on secondary supply sources and ensure compliance with legality and sustainability standards, said an expert.
Economy - Tue, July 15, 2025 | 9:18 am GMT+7
Riding out tariff turbulence, investment funds in Vietnam report strong growth gains
Many equity funds in Vietnam have posted strong growth returns, with gains exceeding 30% since the market’s April 10 trough in 2025, data collected by The Investor shows.
Finance - Tue, July 15, 2025 | 9:00 am GMT+7
Singapore supports businesses, workers amid US tariff pressures
The Singapore Economic Resilience Taskforce (SERT) has announced measures to help Singapore companies adapt to a new U.S. tariff.
Southeast Asia - Mon, July 14, 2025 | 10:11 pm GMT+7
Malaysia makes efforts to minimize US tariff’s impacts
Malaysia’s top export to the U.S. - electronics and electrical products - will face the biggest brunt of a 25% tariff hike that the U.S. has imposed on the country, said head of School of Business under the Monash University Malaysia Prof Nafis Alam.
Southeast Asia - Mon, July 14, 2025 | 10:08 pm GMT+7
Thailand faces $6.14 bln export loss if US tariff is 25-36%: forecast
Thailand could lose up to THB200 billion ($6.14 billion) in export value this year if the U.S. imposes new tariffs ranging from 25-36% on Thai goods, according to a forecast from the University of the Thai Chamber of Commerce (UTCC).
Southeast Asia - Mon, July 14, 2025 | 10:06 pm GMT+7
Southern Vietnam province Tay Ninh okays many high-tech agri projects
Tay Ninh authorities recently granted in-principle approvals to a string of high-tech agricultural projects, paving the way for significant development opportunities in the southern province.
Industries - Mon, July 14, 2025 | 10:00 pm GMT+7
Construction ministry backs $1.95 bln port project in southern Vietnam
Geleximco Group's Cai Mep Ha container and general port project aligns with the national master plan and the master plan for Vietnam’s seaport system, according to the Ministry of Construction.
Infrastructure - Mon, July 14, 2025 | 5:09 pm GMT+7
Electric vehicles in Vietnam: 7 years of development and double-digit growth prospect
The shift toward greener mobility has been underway in Vietnam and the local electric vehicle (EV) market is expected to see double-digit growth thanks to favorable policies, infrastructure development, automakers’ efforts, and a young consumer base.
Economy - Mon, July 14, 2025 | 4:46 pm GMT+7
HCMC apartment prices continue to rise as supply hits 10-year low in H1
The apartment market in former Ho Chi Minh City continued to see rising prices since the total supply in the first six months of 2025 hit the lowest since 2015, according to real estate consultancy firm DKRA.
Real Estate - Mon, July 14, 2025 | 4:03 pm GMT+7
Buyer secures Sunshine Group’s Hanoi shophouse at 15% lower than market price via livestream
A buyer successfully secured a shophouse at property major Sunshine Group’s Noble Palace Tay Thang Long project in Hanoi for VND11 billion ($421,295), VND2.5 billion or 15% below market value, during a bidding livestream on the NobleGo platform held last Friday evening.
Companies - Mon, July 14, 2025 | 1:37 pm GMT+7
Vietnam’s major rice exporter Vinafood 1 tasked with developing mega agri-logistics hub
Vinafood 1, Vietnam's top rice exporter, has been asked to develop an integrated hub for agricultural trade, logistics, warehousing, exports, customs, banking, irradiation, and research and development activities.
Industries - Mon, July 14, 2025 | 12:19 pm GMT+7
Vietnam conglomerate Masan to issue over 7.5 mln ESOP shares
Vietnam’s leading multi-sector conglomerate Masan Group will issue up to 7.5 million MSN shares under an employee stock ownership plan (ESOP) at a par value and issue price of VND10,000 ($0.38) apiece.
Companies - Mon, July 14, 2025 | 11:26 am GMT+7