Vietnam has crossed a symbolic threshold, with the number of operating businesses nationwide surpassing one million, according to the National Statistics Office (NSO), underlining the growing weight of the business sector in the economy.

VOV.VN - The National Assembly on December 11 approved amendments to the 2020 Investment Law, reducing the number of conditional business sectors and easing permit requirements as part of efforts to shift from pre-inspection to post-inspection oversight.

The collaboration with technology platforms and tourism business sectors will bolster efforts to quickly adapt and take advantage of digital transformation effectively.

The COVID-19 pandemic might not end this year and business sectors could not fully recover, however, the situation will be more positive than 2021 thanks to the adaptation to ‘new normal’ conditions, said General Director Nguyen Thi Huong of the General Statistics Office (GSO).

Digitalisation is key to economic recovery and crucial to Vietnamese firms' ability to compete and create value, said policymakers and business experts at a conference on December 15 discussing how the country's economic policies can help foster creativity and innovation among the business sector.