The Ministry of Planning and Investment has proposed to remove 21 conditional business sectors, including rice export, logistics and debt trading service.

According to the ministry, the sectors should be removed from the list of conditional business lines as they do not meet the requirements of Clause 1, Article 7 of the Law on Investment, which means they do not affect national defence and security, social order, social morality and health of the community.

In a report to assess the impact of this proposal, the ministry said the removal would create favourable conditions for management as unfeasible business conditions in the sectors will be abolished.

Besides this, the cut of unnecessary State management activities will help streamline the State management system and reduce budget expenditure.

In particular, the proposal, if being approved, will reduce administrative procedures and create favourable conditions for investment and businesses of people and firms.

The proposal is in a draft to amend and supplement a number of articles of the Law on Investment and the Law on Enterprises, which are being compiled by the Ministry of Planning and Investment.

Currently, the list of conditional business sectors of the Law on Investment includes 243 sectors, 33 sectors less compared with the list issued in the 2014 Law on Investment.

Previously, enterprises had also proposed to cut business conditions of the sectors. — VNS