MoIT cuts 675 business and investment conditions hinh anh 1The Ministry of Industry and Trade has decided to cut down 675 business and investment conditions, equivalent to 55.5 percent of the total conditions (Source: VNA)
Hanoi (VNA) - The Ministry of Industry and Trade (MoIT) has decided to cut down 675 business and investment conditions, equivalent to 55.5 percent of the total conditions.

The decision was made on September 21 after a two-week review of business conditions in areas managed by the ministry.

This is the largest number of conditions cut by the ministry so far, 63 conditions more than the initially-projected figure. After the reduction, the remaining conditions are 541.

According to Minister of Industry and Trade Tran Tuan Anh, the streamlining of business conditions to remove difficulties for businesses will be a central task of the ministry’s administrative reform, which aims to perfect institutions and improve the business climate.

In addition to cutting down business conditions, the ministry has seriously implemented the Government’s Resolution No. 19 to facilitate businesses’ operations, he said, adding that it will continue listening to enterprises’ opinions to promptly deal with arising problems.

In addition, the ministry will also conduct more reviews to reduce the number of goods under specialised inspection, both before and after customs clearance.

It will focus on removing and streamlining administrative procedures and business conditions while building and completing Vietnamese standards, Tuan Anh said.

To continue streamlining administrative procedures and reducing specialised inspection time, the MoIT is devising a circular revising some regulations on food safety inspection.

Accordingly, only groups of products with high risk of violating food safety regulations should be inspected. The MoiT will work with the Ministry of Health and the Ministry of Agriculture and Rural Development to make a list of goods exempted from inspection.

For steel products, the ministry has applied a streamlined inspection process on those of businesses who abide by quality management regulations. This helped enterprises reduce clearance time by 3-4 days and testing costs by 2 million VND for each batch of goods.|

From October 1, once steel products are examined after clearance, the expected customs clearance time will be further shortened.

The MoIT has officially applied a national one-stop-shop mechanism for five administrative procedures including granting certificate of origin form D, import licence of large centimeter motocycles, import licence of ozone-depleting substances, import-export licence of industrial explosives, and Kimberley process certification for rough diamond.-VNA