Tuesday, 11 Dec 2018
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ECONOMY

Vietnam to continue removing 50% business conditions in 2019

Updated at Wednesday, 05 Dec 2018, 22:05
The Hanoitimes - The success of the business community would bring prosperity for Vietnam in the next decades.
Prime Minister Nguyen Xuan Phuc requested ministries and government agencies to remove and simplify at least 50% business and investment conditions in 2019. 
 
Prime Minister Nguyen Xuan Phuc at the forum. Source: VGP.
Prime Minister Nguyen Xuan Phuc at the forum. Source: VGP
In three consecutive years from 2016 – 2018, the government has issued resolution No.19 on improving business environment and enhancing national competitiveness, Phuc informed at the Vietnam Business Forum on December 4. 

The move proves Vietnam’s continued reform effort in a rapidly changing world, Phuc added. 

Recently, the government has issued resolution No.139 approving the action plan on reducing financial expenses for enterprises. The PM added that by implementing the plan, enterprises would save at least 10% of its financial costs. 

The success of the business community would bring prosperity for Vietnam in the next decades, Phuc concluded. 

According to the PM's directive issued on July 13, ministries and ministry-level agencies are required to report to the PM on a quarterly basis on the remaining number of business conditions and goods subject to specialized control as the government seeks to smooth the business environment.

The directive requires there should be a clear justification of changes in the number of business conditions and goods required for specialized inspection. 

According to the PM, business condition removal is one of the key measures for economic growth and efficiency, requiring strong efforts from government leaders and ministers. 

Moreover, proposals on removing business conditions must be substantial, avoiding grouping many business conditions into one mathematically, or just simply changing the name of the condition. 

The PM strictly prohibited government agencies and ministries from creating new business conditions or abusing specialized inspection. 
Nguyen Tung
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