MoF to remove 50% of business conditions
Out of 370 business conditions under the Ministry of Finance (MoF) management responsibility, half of this number is proposed to abolish and simplify.
Specifically, the MoF suggested to abolish 99 requirements and simplifying the other 89, equivalent to 50.8% of the total business conditions, informed the agency during a meeting with the government mission on April 7.
The Ministry of Finance.
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For the time being, the ministry will continue reviewing and evaluating business and investment conditions under 21 fields and sectors subject to the MoF's administration.
Under the said proposal, the MoF suggested to modify 5 laws and 11 decrees, in which modifications will be submitted to the government for approval before June 30.
Last September, the Ministry of Industry & Trade announced a similar move in removing 675 business conditions under its state management responsibility.
This number has been announced after 2 weeks of reviewing and simplifying business conditions, which is higher than expected, with 63 additional conditions to be removed, and contributes to 55.5% of the total current business conditions.
It worth mentioning that in this review, there are 60 additional conditions to be removed, which is higher than the expected number of 612 conditions, contributing to 55.5% of the total business conditions, instead of the original estimation of 50.3%.
After reduction, the remaining business conditions are 541, instead of 752. This is the first time in history of the industry & trade sector, that there are such a high number of business conditions to be removed.
As of October 2016, the Ministry of Industry & Trade has implemented the reduction of business conditions, including: removing 15 administrative procedures, simplifying 108 administrative procedures in the total of 443 procedures, equivalent to 27.8% of the total current administrative procedures of the Ministry.
In 27 fields and sectors under the review process, there are fields and sectors are not under review for removal including: business of industrial explosive materials; rice export (this field has been simplified to remove scale requirement on each conditions); natural resources extraction, goods purchase of Foreign direct investment enterprises; oil extraction; energy accounting, technical safety check for equipment, manufacturing and production for military, and others.
The remaining fields under reduction includes: chemical substances, wine, cigarettes, electricity, frozen products, logistics, industrial substances material, multi marketing, e-commerce, goods transaction and others.
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