Summary: The Ministry of Industry and Trade proposed to the government on Tuesday that 69 business conditions and administrative procedures under its jurisdiction could be completely abolished or simplified next year.
Textiles are one of Vietnam’s main export products. Next year, import and export companies may reduce some business and administrative procedures
HANOI – The Ministry of Industry and Trade proposed to the government on Tuesday that 69 business conditions and administrative procedures under its jurisdiction could be completely abolished or simplified next year.
The proposal is a response to Decrees No. 1 and No. 2 issued by the Vietnamese government in January this year, which aim to relax state management of trade activities by 2025, thereby improving Vietnam’s business environment and promoting the prosperity of enterprises.
These 69 proceedings were initiated after a comprehensive review and account for 10.75% of the total 642 proceedings under the jurisdiction of the Ministry.
Companies in the import and export sector are likely to have the most fewer administrative formalities (19), followed by “light” industries such as alcohol and tobacco companies (5 conditions and 12 formalities), electricity (10 conditions), automobiles (8 formalities), chemicals (6 formalities), industrial explosives (4 formalities), gas and fuels (2 conditions) and food safety (1 condition).
Competition authorities may also have one less condition and one less procedure to follow when carrying out their activities.
The ministry also proposed to delete or simplify 22 legal documents related to trade management.
Their proposals are subject to government comment by September 10.
Key Summary:
Proposal content: The Ministry of Industry and Trade proposes to eliminate or simplify 69 trade-related administrative procedures to improve the business environment.
Affected Industries: Administrative procedures will be reduced in industries such as import and export, alcohol, tobacco, electricity, automobiles, and chemicals.
Simplification goal: reduce administrative burden on enterprises and promote economic development.
Next steps: The proposal awaits government comment by September 10.
This article introduces the administrative procedures simplification plan proposed by the Ministry of Industry and Trade, which aims to optimize Vietnam’s business environment by reducing cumbersome procedures. This move is expected to have a positive impact on multiple industries, allowing companies to operate and grow more efficiently. If you have any questions or need further discussion, please contact Jaycy.
