Inconsistencies and overlaps in existing business regulations must be removed to create a favourable environment for enterprises, according to the Viet Nam Chamber of Commerce and Industry. — Photo tinnhanhchungkhoan.vn It is critical for Viet Nam to focus on removing inconsistencies and overlaps in business regulations to create a favourable climate for enterprises, attendees heard at a conference held by the Viet Nam Chamber of Commerce and Industry (VCCI) on Wednesday in Ha Noi. VCCI’s Chairman Vu Tien Loc said that the business community was highly expectant of the Government’s new wave of reforms, making regulations stronger and more practical. The Government carried out two waves of reforms in the past five years. The first was in 2016 with the highlighted requirement that no business prerequisites were raised in decrees and the second was in 2018 with the focus on simplifying and removing business prerequisites. The third reform wave should be removing overlapping and inconsistent regulations, Loc stressed, adding that the management agencies needed to make greater efforts to create a favourable environment for businesses. Some ministries reported that around 60 per cent of business prerequisites under their management were removed or simplified, however, the figure was only on paper,… Read full this story
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