Abstract

Free trade agreements not only offer many opportunities but also pose numerous challenges for Vietnamese businesses. Continuing to operate the current governing administrative system will not promote the initiativeness, positivity and creativity of businesses. In contrast, businesses will fail to attract foreign investors due to concerns about Vietnamese regulatory agencies interfering, imposing on production and business activities, and extremely protecting the interests of domestic enterprises. It is necessary to build a service-oriented administration, taking the satisfaction of businesses and people as the goal, promoting the ownership and capacity of businesses and people, and ensuring a healthy and equal investment and business environment in the context that Vietnam increasingly participates in the common playing fields created by new-generation free trade agreements.