Vietnam’s requirements for comprehensive impact assessment reports on additional conditional business lines

Vietnam’s requirements for comprehensive impact assessment reports on additional conditional business lines

According to the Resolution, the Government of Vietnam assigns ministries and central authorities to: 

- Proactively study and review conditional investment business lines under their management; suggest the exclusion of business lines that may apply more effective management measures from the list of conditional investment business lines. In case it is necessary to add more conditional business lines, formulate comprehensive impact assessment reports. The mentioned tasks shall be finished by September 2024.

- Proactively review and suggest the abrogation of business conditions in the following directions: (i) abrogation of business conditions that are illegal, unnecessary, unfeasible, unclear, difficult to determine, unpredictable, and not based on a clear scientific basis; (ii) abrogation or amendments to business conditions that are not consistent with reality by simplifying, creating favorable conditions, reducing compliance costs, and not interfering in operations of enterprises too deeply; (iii) review of certificates and suggestion on the abrogation of unnecessary certificates, simplification of certificates with overlapping contents to avoid wasting social costs. The mentioned tasks shall be finished by December 2024.

- Promptly update legislative documents to the National Database on Legal Documents to ensure consistency, uniformity, transparency, ease of search, ease of understanding, and accessibility of the legal system. 

Promote the connection, sharing, and utilization of information between the National Database on Legal Documents, Business Regulation Search and Counseling Portal, and relevant other national databases, specialized databases, and information systems to create favorable conditions for the people and enterprises while searching or utilizing information concerning business and investment operations.

Actively provide counseling for and interact with people, enterprises, and entities subject to regulations and legislative documents through the Business Regulation Search and Counseling Portal; utilize the data on the Portal for appraising, verifying, reviewing, and developing legislative documents.

- Regularly review and update conditional business lines and business investment conditions within their assigned scope, functions, tasks, and entitlements; submit reports to the Ministry of Planning and Investment of Vietnam for disclosure on the National Information Portal on Enterprise Registration.

See more details in Resolution No. 02/NQ-CP dated January 5, 2024. 

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