Finance ministry to remove bottlenecks for private businesses

Finance ministry to remove bottlenecks for private businesses

The Ministry of Finance is rushing to review and evaluate the implementation of legal documents to eliminate unnecessary business conditions, overlapping regulations, and inappropriate provisions that hinder the development of private enterprises.

MoF to remove bottlenecks in business conditions for private businesses

The work is to protect property rights, freedom of business, and equal competition for the private sector, and ensure the enforcement of contracts for private businesses.

To participate in this process, the Vietnam Chamber of Commerce and Industry (VCCI) is responsible for requesting enterprises and associations to provide information and opinions on inadequacies, obstacles, and/or overlaps in the implementation of laws related to investment, production, business, contract conclusion, and execution.

These obstacles include overlapping, inconsistent, unclear, or impractical regulations; unreasonable business conditions and administrative procedures that generate compliance costs and hinder business operations.

The VCCI requests that businesses submit their proposals before May 20 so that they can be compiled and reported to the MoF in time.

Besides that, departments and agencies under the MoF must prepare and submit reports on the situation and preliminary results of the overall review for consolidation before June 10, and simultaneously complete the official report on the overall review results before October.

The Legal Department leads the preparation of the preliminary report on the overall review results of the MoF, to be completed before July 10.

For thematic reports, the evaluation and preparation of the reports will be carried out in two steps, with the preliminary report completed before July 25 and the official report completed before November 20, ensuring the overall consolidation progress from central and local agencies.

VIR