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Official Gazette

Sunday, November 19, 2017

Prime Minister asks a comprehensive review of business sectors

Updated: 10:48’ - 21/08/2014

Prime Minister Nguyen Tan Dung on August 19 requested a thorough review of the list of sectors banned or restricted from business, to create the most favorable conditions for people and enterprises to invest and do business in the country.

The request was made during the Government meeting of related ministries and sectors in Hanoi to discuss revisions of the laws on investment and enterprises.

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Government’s meeting debates revision of the laws on investment and
enterprises__Photo: Duc Tam/VNA

At the meeting, the Ministry of Planning and Investment (MPI) proposed to reduce the number of sectors banned from business, from 51 to only eight, and the number of sectors subject to conditional business, from 386 to only 330.

The Prime Minister agreed with the MPI’s proposal to exclude sectors in natural resources and mineral exploitation, along with 40 sectors, products and services subject to excise tax, from the list of business sectors and domains eligible for incentive policies.

He said that in line with regulations on people’s right to do business, any limitation on these rights must be regulated and stated clearly in laws.

“This is important as it reflects the principle that people and enterprises have the right to invest and do business in all sectors not banned by law,” the Prime Minister added.

He also said that the creation of the list and the drafting of relevant regulations should help improve the country’s business and investment environment and raise the nation’s competitiveness in the world market.

Such list and regulations must also improve the effectiveness of state management and administrative reform by ensuring transparency in implementation, to prevent wrongdoings and corruption, Dung added.-


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