News

Ministry of Industry and Trade proposes scrapping another 202 regulations

Summary

The Ministry of Industry and Trade (MOIT) is planning to abolish another 202 business regulations in 2019, as the Vietnamese government continues its efforts to improve the business climate in Vietnam

Updated on : 26-10-2018

The elimination of these regulations is part of the MOIT’s plan to simplify business requirements over the 2019-2020 period, as adopted by Minister Tran Tuan Anh on October 11.

To date, the ministry has already eliminated 672 among a total of 1,216 regulations concerning 27 sectors under its jurisdiction.

According to Le Anh Son, head of the ministry’s legal department, the next batch will mainly remove regulations on food safety and the trading of cigarettes, alcohol and chemicals.

With these 202 regulations, more than 72% of the business regulations under the MOIT will have been removed, equivalent to 14% of the total regulations, under various ministries and agencies, which need to be abolished.

So far, four ministries have officially scrapped 900 business regulations out of 5,905 in total, with the MOIT making the most drastic cuts.

Source: http://en.nhandan.org.vn