Vietnam: Plan to reduce business conditions of the Ministry of Industry and Trade

10:38, 25/09/2017

On September 20, 2017, the Ministry of Industry and Trade of Vietnam issued Decision No. 3610A /QĐ-BCT promulgating a plan to review, reduce and simplify investment and business conditions in the field of state management of the Ministry of Industry and Trade for the period 2017 - 2018.

According to Decision No. 3610A /QĐ-BCT of the Ministry of Industry and Trade of Vietnam, reviewing, reducing and simplifying investment and business is carried out according to the following principles:

- Transform state management methods by gradually shifting to post-inspection in the construction and implementation of business regulations;

- Developing and implementing business investment conditions must take into account market entry conditions according to international commitments to which Vietnam is a member;

- Investment and business registration must meet the criteria in Article 7 of the Law on Investment 2014 of Vietnam;

- Feasibility, resource conditions of state management agencies, and strong decentralization capabilities must be carefully considered;

- Must be associated with administrative reform, especially institutional reform and administrative procedure reform.

View details of the business conditions proposed to be reduced in the Appendix attached to Decision No. 3610A /QĐ-BCT of the Ministry of Industry and Trade of Vietnam, which takes effect from the date of its issuance.

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