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Official Gazette

Wednesday, November 21, 2018

Ministry continues to slash investment business conditions

Updated: 16:41’ - 25/10/2018
>>Government makes strides in reducing business conditions
>>Government to cut half of business conditions in 2018

The Ministry of Industry and Trade (MIT) on October 11 issued Decision 3720/QD-BCT, removing and simplifying some 200 business conditions out of total 560 ones under its management for the 2019-20 period.

As a result, in the fields of food safety, there will be 79 business conditions slashed and 34 others simplified. Among the current 49 business conditions, the electricity sector have seven conditions removed, two simplified and seven shifted from the pre-licensing inspection to post-licensing inspection mode.

MIT will reduce by over 72 percent of total business conditions it has set__Photo: Internet

Besides, the business conditions will also be abolished and simplified in the sectors of chemicals, automobile manufacture, import, warranty and maintenance, mineral, and coal trading.

According to the MIT, the reduction and simplification of the business conditions under its management are based on the current laws in force, state management requirements, efficiency assessment of state management of business conditions, practical conditions, limitations in the application of such business conditions, and signed international commitments.

Previously, under Decision 3610a/QD-BCT of 2017 promulgating the plan on removal and simplification of business conditions under its management for the 2017-18 period, the MIT slashed 675 out of 1,216 business conditions for 27 sectors. By further removing business conditions, the Ministry will reduce by over 72 percent of total business conditions it has set.-(VLLF)

 

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