400 business conditions axed last year: MPI deputy minister
Over 400 business conditions were cut in the recently passed Law on Investment last year, according to Deputy Minister of Planning and Investment (MPI) Tran Duy Dong.
Workers at Vietnam Post loading up parcels at a distribution centre in HCM City. (Photo: VNA)
Hanoi (VNS/VNA) —🔯 Over 400 business conditions were cut in the recentlypassed Law on Investment last year, according to Deputy Minister of Planningand Investment (MPI) Tran Duy Dong.
The official said hisministry's focus during 2020 was to support business activities and firms. Ithas also been working on 17 proposals which aimed to improve ease of doingbusiness in Vietnam with a number of policy breakthroughs. Dong said the MPI willcontinue to review the 2020 Law on Investment to further remove additionalconditions for businesses that specialise in work safety equipment, postaloffices, publishing and pay television. It has been at theforefront of administrative reform with concerted efforts across all of itsdepartments to simplify and shorten the required time to process businessapplications and procedures. The ministry hasintroduced a portal allowing businesses to submit forms and applications onlineto save time and expenses. The portal also helps the MPI to shorten itsprocessing time and improve accountability and transparency across itsdepartments. Dong said the MPI hasbeen pushing for faster digitalisation with the establishment of a nationalbusiness register, a key component in a future e-government system. Theregister has been well-received and widely accessed by the business community.It has helped thousands of businesses connect with each otherand proved to be a valuable management tool for the MPI.
He said the ministry'skey objectives in 2021 include extensive reviews on current policies and legalframeworks on investment and global integration. The MPI will also launch anumber of initiatives with a focus on helping localities and businesses improveproductivity, quality of products and services as well as businesscompetitiveness./.
Reductions in business conditions and related administrative procedures have helped save about 18 million workdays, or 6.3 trillion VND (273.4 million USD), each year, Minister and Chairman of the Government Office Mai Tien Dung said.
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Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
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Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
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A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Workers at Vietnam Post loading up parcels at a distribution centre in HCM City. (Photo: VNA) 
