VN to strengthen simplification of business regulations in 2020-25 period Tra fish processed at the Southern Seafood Corporation. Viet Nam targeted to remove and simplify at least 20 per cent of the number of regulations and reduce at least 20 per cent of compliance costs for firms by 2025. Under the Government’s Resolution No 68/NQ-CP issued early this week, Viet Nam targeted to remove and simplify at least 20 per cent of the number of regulations and reduce at least 20 per cent of compliance costs firms incurred to adhere to Government regulations which were in effect as of May 31. The list of existing legal documents regulating business operation must be announced before October 31. At the same time, the Government’s programme also aimed to strictly control the promulgation of new legal documents regulating business operation, especially ministers’ circulars, Prime Minister’s decisions and Government’s decrees to prevent the creation of unnecessary and unreasonable regulations. This year, software providing adequate and accurate updates about business regulations and compliance costs would be put into operation, which would be a base for reviews for cuts and simplifications. Priority would be placed on regulations about checks on imported-exported products. Dialogues between the management… Read full this story
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