Business investment conditions reviewed

by VTV423 June 2016 Last updated at 11:45 AM

VTV.vn - ​A meeting reviewing the final draft on business investment conditions took place on Wednesday morning, before the draft is submitted to the government.

The meeting was conducted by head of the Government Office, Mai Tiến Dũng, leaders from 17 ministries and the Vietnamese Chamber of Commerce and Industry (VCCI) also attended the event.

The Vietnam Chamber of Commerce and Industry drafted a 325 page report to give feedback and comments on 311 business investment conditions specified in the draft decree. The chamber requested the removal of 70 unnecessary conditions and amendments to more than 100 other business investment conditions specified in 49 draft decrees. The majority of the recommendations raised at the meeting were welcomed by ministries and other agencies.

Vu Tien Loc, Chairman Vietnam Chamber of Commerce and Industry said: Basically, almost all the ministries have reached a consensus on the recommendations from the business community. However, there are still differences on some sectors, especially industry and trade. Hence, we will have a dialogue between businesses and Ministry of Industry and Trade later.

Many provisions in the draft decree which aren’t business conditions but standard techniques and processes have been proposed to be addressed in circulars instead of the main decree. However, due to insufficient time, many draft decrees will need to be looked at by ministries and agencies before submission to the government. The final decree will take effect on July 1st.

"We’ve worked so actively to look back and consider amended provisions in the draft decree over the past 2 month. It’s more effective than last year." Mr Loc added.

This is the first time representatives of the business community have actually sat down in a room with state authorities to discuss the provisions in a draft decree. This is considered as a new way to promote the reform of administrative procedures and improved business and investment environment.

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