Solutions to improve Vietnam Institutions

[Image Info] www.wizdata.co.kr

Solutions to improve Vietnam Institutions

Performance of intellectual property

Government efficiency

Strength of auditing and reporting standards

Source: [Image Info] www.wizdata.co.kr

How to make Vietnam more competitive in next 2 decades?

WEF defines national economic competitiveness as the set of institutions, policies and factors that determine the level of productivity of a country.

Higher level of productivity of a country.

More Competitive

Higher rank in GCI

Source: Global Finance - http://www.gfmag.com/tools/global-database/economic-data/10430-global-competitiveness.html [Image Info] www.wizdata.co.kr

Solutions to improve Vietnam Institutions

Improve the performance of intellectual property

Improve legal framework ensure effective implementation of intellectual property rights Raise awareness on protection of intellectual property Strong enforcement of the Law on intellectual property

Promote the development of science and technology Create more favorable environment to attract more investors.
Higher productivity More Competitive

Source http://thoibaoviet.com/tintuc.cnds.khds.40648.tbv, http://vietbao.vn/Khoa-hoc/Loi-ich-thuc-thi-quyen-so-huu-tri-tue-o-VN/20551205/189

Solutions to improve Vietnam Institutions

Public institutions Decrease corruption

1. Recruitment of the best and brightest government officials 2. Competitive pay for highflyers 3. Utilization of information technology in administrative service

More money to invest in Capital resource, Natural Resource, Technology...

Higher productivity More Competitive

Source: http://www.capacityisdevelopment.org/doccs/capdev_casestudy/Singapore%20Study.pdf, Page 5 Image Info www.wizdata.co.kr, www.CartoonStock.com

Solutions to improve Vietnam Institutions

Latest news in corruption in Vietnam:

Vinashin ship is sinking down to the 4.5 billion dollar debt!

Source http://ledienduc.wordpress.com/2010/07/09/con-tau-vinashin-chim-va-nh%E1%BB%AFng-n%E1%BB%97i-kinh-hoang-c%E1%BB%A7a-dan-t%E1%BB%99c-vi%E1%BB%87t-nam/

Solutions to improve Vietnam Institutions

Decrease Government Deficit Decrease Foreign debit Control inflation

1. Establish a council of public independence investment appraisal 2. State audit reports of SOEs and large public investment projects should be made public

Wastefulness of

3. Strictly control the investment of state enterprises

projects, cutting projects less efficient, less urgent, are not eligible to deploy

Effective investment
Higher productivity More Competitive

Government 4. Concentrate on the key spending

Public institutions - Government efficiency

Source http://tuanvietnam.net/2010-07-20-giam-thue-va-hay-tang-chi-tieu-cong , http://suckhoedoisong.vn/2009062204472688p71c73/han-che-that-thoat-chi-tieu-cong.htm

Solutions to improve Vietnam Institutions

Decrease official meetings and buying new cars in Vietnam

We will reduce 3000 billion VND (0.8% Government Budget) (Ministry of Planning and Investment)

Source

http://you.4be.vn/quan-ly-kt-nha-nuoc/16956-cac-bien-phap-giam-tham-hut-ngan-sach-cua-chinh-phu.4be

Solutions to improve Vietnam Institutions

Investment environment more favorable, more open, Reducing a lot of social costs and make greater labor productivity

1. Simplification of administrative procedures (one level one door) 2. Public list of statistics and other administrative procedures (fees and charges)

Burden of 3. Apply Information Technology government to administrative procedures regulation

4. Equitization of state owned enterprises

Create transparency , fight corruption

Higher productivity More Competitive

Public institutions - Government efficiency

Source

http://www.lamdong.gov.vn/vi-VN/a/sonoivu/tintucsukien/Pages/Kinhnghi%E1%BB%87mth%E1%BB%B1chi%E1%BB%87nC%C6%A1ch%E1%BA%BFm%E1%BB%99tc%E1%B B%ADaqu%E1%BB%91cgiaTh%E1%BB%A5y%C4%90i%E1%BB%83n.aspx http://www.visalco.com.vn/webplus/viewer.asp?pgid=3&aid=231

Solutions to improve Vietnam Institutions

Vietnam will decrease 30% cost if simplification of administrative procedures
(According to thutuchanhchinh.vn website http://thutuchanhchinh.vn/index.php/news/detail/222)

Source: http://www.arthursclipart.org/kids/kidsbw/page_03.htm

Solutions to improve Vietnam Institutions

1. State management: create and maintain a stable audit process: principles, standards and guidelines 1. Independent auditing activities

Transparency of financial reports

Strength of auditing and reporting standards

Improve quality of service: professional capacity, reduce occupational risk, investment in technology and techniques of auditing, quality control services, integration with regional markets and international.

System of synchronous solutions for all three systems: Accounting auditing, commercial banks and the Stock Market
Attract more investment Higher productivity

More Competitive

Private institutions Efficiency Accountability

Source http://www.tapchiketoan.com/kiem-toan/chuan-muc-kiem-toan/kiem-toan-kiem-toan-voi-su-minh-bach-thong-tin-tai-chinh-tren-thi-t.html

Solutions to improve Vietnam Institutions

Decrease Government Deficit Decrease Foreign debit Control inflation

1. Establish a council of public independence investment appraisal 2. State audit reports of SOEs and large public investment projects should be made public

Strength of 3. Strictly control the investment of state enterprises auditing and 4. Concentrate on the key reporting projects, cutting projects less standards
efficient, less urgent, are not eligible to deploy

Effective investment
Higher productivity More Competitive

Government efficiency
Source http://www.webketoan.vn/news/

Vietnam more competitive in next 2 decades?

Can we together make Vietnam more competitive in next 2 decades? Singapore can so why dont we? Find problems and take actions!

Yes, we can!

Source http://www.capacityisdevelopment.org/doccs/capdev_casestudy/Singapore%20Study.pdf

Reference: http://www.capacityisdevelopment.org/doccs/capdev_casestudy/Singapore%20Study.pdf http://www.webketoan.vn/news/ http://www.tapchiketoan.com/kiem-toan/chuan-muc-kiem-toan/kiem-toan-kiem-toan-voi-su-minhbach-thong-tin-tai-chinh-tren-thi-t.html http://www.arthursclipart.org/kids/kidsbw/page_03.htm http://www.lamdong.gov.vn/viVN/a/sonoivu/tintucsukien/Pages/Kinhnghi%E1%BB%87mth%E1%BB%B1chi%E1%BB%87nC%C6 %A1ch%E1%BA%BFm%E1%BB%99tc%E1%B B%ADaqu%E1%BB%91cgiaTh%E1%BB%A5y%C4%90i%E1%BB%83n.aspx http://www.visalco.com.vn/webplus/viewer.asp?pgid=3&aid=231 http://you.4be.vn/quan-ly-kt-nha-nuoc/16956-cac-bien-phap-giam-tham-hut-ngan-sach-cua-chinhphu.4be http://tuanvietnam.net/2010-07-20-giam-thue-va-hay-tang-chi-tieu-cong http://suckhoedoisong.vn/2009062204472688p71c73/han-che-that-thoat-chi-tieu-cong.htm http://ledienduc.wordpress.com/2010/07/09/con-tau-vinashin-chim-va-nh%E1%BB%AFngn%E1%BB%97i-kinh-hoang-c%E1%BB%A7a-dan-t%E1%BB%99c-vi%E1%BB%87t-nam/ http://www.capacityisdevelopment.org/doccs/capdev_casestudy/Singapore%20Study.pdf, Page 5 www.wizdata.co.kr www.CartoonStock.com Global Finance - http://www.gfmag.com/tools/global-database/economic-data/10430-globalcompetitiveness.html http://thoibaoviet.com/tintuc.cnds.khds.40648.tbv http://vietbao.vn/Khoa-hoc/Loi-ich-thuc-thi-quyen-so-huu-tri-tue-o-VN/20551205/189