Prime Minister Nguyen Xuan Phuc addressed the monthly government meeting (Photo: Thong Nhat/ VNA)

At a monthly government meeting for October on Friday, Prime Minister Phuc said Viet Nam has made outstanding progress in improving its business climate, moving up 14 notches to rank 68 out of 190 countries in the World Bank’s latest Doing Business rankings. Moody's Investors Service has changed its outlook for Vietnam's banking system from “stable” to “positive” for the next 12-18 months, reflecting strong economic prospects and positive outlooks for most of Vietnam’s rated banks.

The Prime Minister pointed out Vietnam’s socio-economic challenges: “It is necessary to examine and find timely resolutions to the pressing issues discussed at the ongoing National Assembly meeting. We need to consider cutting overlapping fees in certain areas mentioned by National Assembly deputies”.