VCCI proposes eliminating 22 conditional business sectors

Wednesday, Oct 24, 2018 17:08

Rice loaded for export. Rice export would be among the 22 sectors which could see fewer business conditions. — Photo

The Viet Nam Chamber of Commerce and Industry (VCCI) has proposed removing conditions for 22 business sectors including rice export, trade arbitration, accounting services, debt purchasing, customs procedures and logistics services.

VCCI sent a document to the Legal Department under the Ministry of Planning and Investment asking to revise the list of conditional business sectors laid out in the amended Investment Law 2016.

According to VCCI, the issuance of the list of conditional business lines in the Investment Law 2014 was a big step toward the transparency of the sectors. The business community could identify lines of business to make investment decisions, as well as monitoring State agencies when implementing business management policies.

The list of conditional business sectors was supplemented and amended to be cut down from 267 to 243 in 2016. The amended list removed many unsuitable business conditions, creating an open and favourable business environment.

However, VCCI said there were some shortcomings in the current list which should be continued to be reviewed and amended.

VCCI reviewed 243 conditional business sectors in the list and released a recommendation that 22 lines should be removed more.

The sectors also include temporary import for re-export of frozen foods, job service trading, automobile maintenance, shipbuilding, travel service trading and printing service.

In addition, it also proposed 10 business lines which should have a narrower scope of business conditions control such as food trading under the specialised management of the Ministry of Industry and Trade, franchising, aquatic product trading, animal feed and pesticides trading.

Currently, the Government and the Prime Minister have directed ministries and agencies to reduce the business conditions. The PM asked ministers to submit to the Government for promulgation of decrees and simplifying at least 50 per cent of business conditions before October 30. — VNS

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