HANOI - General Secretary of the Communist Party of Vietnam Central Committee To Lam has called for reducing unnecessary administrative procedures by at least 30 percent to make Vietnam a top three ASEAN (the Association of Southeast Asian Nations) investment destination within the next two to three years, Vietnam News Agency reported Tuesday.
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He said Vietnam needs to continue institutional reforms and improve the business environment by reducing administrative procedure processing duration by at least 30 percent and cutting business costs by at least 30 percent.
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It is also important to implement open financial policies for international financial center models and create a duty-free port model to transform Vietnam into a major logistics hub, he said.
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He stressed the importance of increasing investment, including expanding government investment in the country's strategic and fundamental infrastructure system, and promoting private investment through creating a favorable, transparent, safe, and low-cost investment environment, with easy access to credit capital.
