MoIT-managed business conditions to be cut hinh anh 1PM Nguyen Xuan Phuc speaks at the meeting (credit:

Hanoi (VNA) – The Prime Minister on January 15 signed to issue a decree on cutting 675 of the 1,216 business conditions (or 55.5 percent), managed by the Ministry of Industry and Trade (MoIT).

In September, 2017, MoIT Minister Tran Tuan Anh approved a plan to abolish 675 business conditions under the management of the ministry, showing the ministry’s pioneering role in reforming business conditions.

At a conference in Hanoi on January 15, PM Nguyen Xuan Phuc praised the MoIT's effort in the work, saying it demonstrated the ministry’s determination to improve the national business climate.

He also applauded the ministry for the effective restructuring of its organisational apparatus, particularly the reduction of a number of its divisions.

According to Minister Tran Tuan Anh, besides the reduction of 675 business conditions, the MoIT also decided to eradicate 420 out of 720 goods codes subject to pre-clearance inspection which made up 58.3 percent of the total number of tariff codes.

He added that the industry sector made outstanding achievements in 2017 including the record high export revenue of over 200 billion USD, the high industrial production index growth of 9.4 percent, the inflation curbed at 3.53 percent, among others.

Under Resolution No.01/NQ-CP in 2018, the Government asked for basic improvement and strong change of business climate indicators, and a 50-percent cut in the number of business conditions.

The Ministry of Planning and Investment said only five ministries devised plans for the scheme by the end of 2017.

The Ministry of Agriculture and Rural Development proposed to remove 118 out of the 345 business conditions that it manages, the Ministry of Construction planned to cut 89 and simplify 94 ones out of the 215 conditions. Meanwhile, the Ministry of Information and Communications said it will erase and modify 51 ones of this kind.-VNA