Vietnam Business : Vietnam Development Report 2006
Business development has been one of the main forces behind rapid poverty reduction in Vietnam. Together with the redistribution of agricultural land, and the broad coverage of social services, it allowed a large fraction of the population to engage in more productive occupations and raise their liv...
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| Format: | Development Policy Review (DPR) |
| Language: | English en_US |
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Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2005/11/6451539/vietnam-development-report-2006 http://hdl.handle.net/10986/8314 |
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okr-10986-8314 |
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| recordtype |
oai_dc |
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Digital Repository |
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Foreign Institution |
| institution |
Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTING ADB ADVERSE EFFECTS AGRICULTURAL OUTPUT AGRICULTURE BANKING REFORM BANKING SUPERVISION BANKING SYSTEM BANKS BENCHMARKING BILATERAL TRADE BUSINESS COMMUNITY BUSINESS DEVELOPMENT CAPITAL INVESTMENT CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CENTRAL BANK CENTRAL PLANNING COLLUSION COMMERCIAL BANKS COMPARATIVE ANALYSIS COMPETITIVENESS COMPETITORS CONSOLIDATION CORPORATION CREDIT RATIONING CREDIT RISK DECISION MAKING DEVELOPMENT AGENCY DEVELOPMENT ASSISTANCE DEVELOPMENT STRATEGY DIVERSIFICATION ECONOMIC REFORM EMPLOYMENT ENTERPRISE OWNERSHIP ENTREPRENEURS ETHNIC MINORITIES EXISTING BUSINESSES EXPANSION EXTERNALITIES FEASIBILITY STUDIES FINANCIAL DEEPENING FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL SECTOR FIRM SIZE FIRMS FOREIGN COMPANIES FOREIGN DIRECT INVESTMENT FOREIGN ENTERPRISES FREE TRADE GDP GDP PER CAPITA GROSS DOMESTIC PRODUCT HEALTH CARE HEALTH SERVICES HOUSING IMPORT QUOTAS INFRASTRUCTURE DEVELOPMENT INSURANCE INTELLECTUAL PROPERTY RIGHTS INVESTMENT IN INFRASTRUCTURE JOINT STOCK COMPANY KEY PERFORMANCE INDICATORS LENDERS LEVEL PLAYING FIELD LIVING STANDARDS MEDIUM ENTERPRISES MONETARY POLICY NATURAL RESOURCES PACIFIC REGION PRESENT VALUE PRIVATE ENTERPRISES PRIVATE SECTOR DEVELOPMENT PRIVATE SECTOR PARTICIPATION PRODUCTIVITY PROPERTY RIGHTS PUBLIC DEBT REAL GDP REGULATORY FRAMEWORK REGULATORY FRAMEWORKS RESOURCE MOBILIZATION SAFETY NETS SAVINGS SHOPS SMALL BUSINESS SMALL BUSINESSES SMALL ENTERPRISES SME SOCIAL SERVICES SUPPLIERS TAX ADMINISTRATION TELECOMMUNICATIONS TELEPHONE PENETRATION TELEPHONE SERVICES TOTAL FACTOR PRODUCTIVITY TRADE BARRIERS TRANSPORT TRANSPORT INFRASTRUCTURE UNEMPLOYMENT VALUE ADDED WAGES WORLD TRADE ORGANIZATION WTO |
| spellingShingle |
ACCOUNTING ADB ADVERSE EFFECTS AGRICULTURAL OUTPUT AGRICULTURE BANKING REFORM BANKING SUPERVISION BANKING SYSTEM BANKS BENCHMARKING BILATERAL TRADE BUSINESS COMMUNITY BUSINESS DEVELOPMENT CAPITAL INVESTMENT CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CENTRAL BANK CENTRAL PLANNING COLLUSION COMMERCIAL BANKS COMPARATIVE ANALYSIS COMPETITIVENESS COMPETITORS CONSOLIDATION CORPORATION CREDIT RATIONING CREDIT RISK DECISION MAKING DEVELOPMENT AGENCY DEVELOPMENT ASSISTANCE DEVELOPMENT STRATEGY DIVERSIFICATION ECONOMIC REFORM EMPLOYMENT ENTERPRISE OWNERSHIP ENTREPRENEURS ETHNIC MINORITIES EXISTING BUSINESSES EXPANSION EXTERNALITIES FEASIBILITY STUDIES FINANCIAL DEEPENING FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL SECTOR FIRM SIZE FIRMS FOREIGN COMPANIES FOREIGN DIRECT INVESTMENT FOREIGN ENTERPRISES FREE TRADE GDP GDP PER CAPITA GROSS DOMESTIC PRODUCT HEALTH CARE HEALTH SERVICES HOUSING IMPORT QUOTAS INFRASTRUCTURE DEVELOPMENT INSURANCE INTELLECTUAL PROPERTY RIGHTS INVESTMENT IN INFRASTRUCTURE JOINT STOCK COMPANY KEY PERFORMANCE INDICATORS LENDERS LEVEL PLAYING FIELD LIVING STANDARDS MEDIUM ENTERPRISES MONETARY POLICY NATURAL RESOURCES PACIFIC REGION PRESENT VALUE PRIVATE ENTERPRISES PRIVATE SECTOR DEVELOPMENT PRIVATE SECTOR PARTICIPATION PRODUCTIVITY PROPERTY RIGHTS PUBLIC DEBT REAL GDP REGULATORY FRAMEWORK REGULATORY FRAMEWORKS RESOURCE MOBILIZATION SAFETY NETS SAVINGS SHOPS SMALL BUSINESS SMALL BUSINESSES SMALL ENTERPRISES SME SOCIAL SERVICES SUPPLIERS TAX ADMINISTRATION TELECOMMUNICATIONS TELEPHONE PENETRATION TELEPHONE SERVICES TOTAL FACTOR PRODUCTIVITY TRADE BARRIERS TRANSPORT TRANSPORT INFRASTRUCTURE UNEMPLOYMENT VALUE ADDED WAGES WORLD TRADE ORGANIZATION WTO World Bank Vietnam Business : Vietnam Development Report 2006 |
| geographic_facet |
East Asia and Pacific Southeast Asia Vietnam |
| description |
Business development has been one of the main forces behind rapid poverty reduction in Vietnam. Together with the redistribution of agricultural land, and the broad coverage of social services, it allowed a large fraction of the population to engage in more productive occupations and raise their living standards. But businesses are still struggling with important constraints. Insufficient availability of finance, difficulties in accessing land and continuous gaps in infrastructure services (in spite of enormous investment efforts) are among the most important obstacles identified by entrepreneurs. In a booming labor market, retaining qualified personnel and finding the skills required to move up the ladder are also perceived as barriers to business development. As a result of these constraints, the domestic private sector remains dominated by small enterprises. In between a myriad household businesses and a few thousand large state-owned enterprises (SOES) and foreign companies, there are not many small and medium enterprises, and only a handful of domestic private firms have made it to the top. Sustaining business development in Vietnam requires the completion of the structural reform agenda. Fully developing the land market, restructuring the financial sector, managing state assets in a more efficient and transparent manner, mobilizing resources for infrastructure development, are the key priorities in this respect. Further integration with the world economy, especially through the accession to the World Trade Organization, is bound to lock-in some of these changes, and level the playing field between domestic and foreign enterprises. But there i s also a complementary reform agenda, aimed at leveling the playing field between the domestic private sector and SOEs and mobilizing capital (both public and private) in an efficient way. Global integration and domestic reforms are needed to sustain rapid economic growth while avoiding the accumulation of large contingent liabilities for the government. For Vietnam to become a middle-income country will entail going beyond structural reforms and laying the foundations of a modern market economy, introducing competition and proper regulation in infrastructure services, modernizing tax administration, reforming the legal and judiciary systems, reducing corruption, improving governance at local levels, are all part of a second generation of reforms that need to be put on track for Vietnam to move up to the next phase. |
| format |
Economic & Sector Work :: Development Policy Review (DPR) |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Vietnam Business : Vietnam Development Report 2006 |
| title_short |
Vietnam Business : Vietnam Development Report 2006 |
| title_full |
Vietnam Business : Vietnam Development Report 2006 |
| title_fullStr |
Vietnam Business : Vietnam Development Report 2006 |
| title_full_unstemmed |
Vietnam Business : Vietnam Development Report 2006 |
| title_sort |
vietnam business : vietnam development report 2006 |
| publisher |
Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2005/11/6451539/vietnam-development-report-2006 http://hdl.handle.net/10986/8314 |
| _version_ |
1764405271602397184 |
| spelling |
okr-10986-83142021-04-23T14:02:39Z Vietnam Business : Vietnam Development Report 2006 World Bank ACCOUNTING ADB ADVERSE EFFECTS AGRICULTURAL OUTPUT AGRICULTURE BANKING REFORM BANKING SUPERVISION BANKING SYSTEM BANKS BENCHMARKING BILATERAL TRADE BUSINESS COMMUNITY BUSINESS DEVELOPMENT CAPITAL INVESTMENT CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CENTRAL BANK CENTRAL PLANNING COLLUSION COMMERCIAL BANKS COMPARATIVE ANALYSIS COMPETITIVENESS COMPETITORS CONSOLIDATION CORPORATION CREDIT RATIONING CREDIT RISK DECISION MAKING DEVELOPMENT AGENCY DEVELOPMENT ASSISTANCE DEVELOPMENT STRATEGY DIVERSIFICATION ECONOMIC REFORM EMPLOYMENT ENTERPRISE OWNERSHIP ENTREPRENEURS ETHNIC MINORITIES EXISTING BUSINESSES EXPANSION EXTERNALITIES FEASIBILITY STUDIES FINANCIAL DEEPENING FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL SECTOR FIRM SIZE FIRMS FOREIGN COMPANIES FOREIGN DIRECT INVESTMENT FOREIGN ENTERPRISES FREE TRADE GDP GDP PER CAPITA GROSS DOMESTIC PRODUCT HEALTH CARE HEALTH SERVICES HOUSING IMPORT QUOTAS INFRASTRUCTURE DEVELOPMENT INSURANCE INTELLECTUAL PROPERTY RIGHTS INVESTMENT IN INFRASTRUCTURE JOINT STOCK COMPANY KEY PERFORMANCE INDICATORS LENDERS LEVEL PLAYING FIELD LIVING STANDARDS MEDIUM ENTERPRISES MONETARY POLICY NATURAL RESOURCES PACIFIC REGION PRESENT VALUE PRIVATE ENTERPRISES PRIVATE SECTOR DEVELOPMENT PRIVATE SECTOR PARTICIPATION PRODUCTIVITY PROPERTY RIGHTS PUBLIC DEBT REAL GDP REGULATORY FRAMEWORK REGULATORY FRAMEWORKS RESOURCE MOBILIZATION SAFETY NETS SAVINGS SHOPS SMALL BUSINESS SMALL BUSINESSES SMALL ENTERPRISES SME SOCIAL SERVICES SUPPLIERS TAX ADMINISTRATION TELECOMMUNICATIONS TELEPHONE PENETRATION TELEPHONE SERVICES TOTAL FACTOR PRODUCTIVITY TRADE BARRIERS TRANSPORT TRANSPORT INFRASTRUCTURE UNEMPLOYMENT VALUE ADDED WAGES WORLD TRADE ORGANIZATION WTO Business development has been one of the main forces behind rapid poverty reduction in Vietnam. Together with the redistribution of agricultural land, and the broad coverage of social services, it allowed a large fraction of the population to engage in more productive occupations and raise their living standards. But businesses are still struggling with important constraints. Insufficient availability of finance, difficulties in accessing land and continuous gaps in infrastructure services (in spite of enormous investment efforts) are among the most important obstacles identified by entrepreneurs. In a booming labor market, retaining qualified personnel and finding the skills required to move up the ladder are also perceived as barriers to business development. As a result of these constraints, the domestic private sector remains dominated by small enterprises. In between a myriad household businesses and a few thousand large state-owned enterprises (SOES) and foreign companies, there are not many small and medium enterprises, and only a handful of domestic private firms have made it to the top. Sustaining business development in Vietnam requires the completion of the structural reform agenda. Fully developing the land market, restructuring the financial sector, managing state assets in a more efficient and transparent manner, mobilizing resources for infrastructure development, are the key priorities in this respect. Further integration with the world economy, especially through the accession to the World Trade Organization, is bound to lock-in some of these changes, and level the playing field between domestic and foreign enterprises. But there i s also a complementary reform agenda, aimed at leveling the playing field between the domestic private sector and SOEs and mobilizing capital (both public and private) in an efficient way. Global integration and domestic reforms are needed to sustain rapid economic growth while avoiding the accumulation of large contingent liabilities for the government. For Vietnam to become a middle-income country will entail going beyond structural reforms and laying the foundations of a modern market economy, introducing competition and proper regulation in infrastructure services, modernizing tax administration, reforming the legal and judiciary systems, reducing corruption, improving governance at local levels, are all part of a second generation of reforms that need to be put on track for Vietnam to move up to the next phase. 2012-06-18T18:56:35Z 2012-06-18T18:56:35Z 2005-11 http://documents.worldbank.org/curated/en/2005/11/6451539/vietnam-development-report-2006 http://hdl.handle.net/10986/8314 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Development Policy Review (DPR) Economic & Sector Work East Asia and Pacific Southeast Asia Vietnam |