PM decides to cut 675 business conditions

16:37 | 16/01/2018 Economy- Society

Prime Minister Nguyen Xuan Phuc has decided to remove 675 business conditions managed by the Ministry of Industry and Trade (MoIT), announced at the industry meeting in Hanoi on January 15.

PM Nguyen Xuan Phuc speaks at the meeting - Credit: VGP

The PM said at the meeting that he has recently signed Decree No.08 on reducing 675 business conditions following the MoIT's commitment on eliminating business conditions made in September 2017.

PM Nguyen Xuan Phuc noted that he appreciated the MoIT's efforts in cutting an unprecedented number of 675 investment and business conditions, accounting for 55.3% of the total number of business conditions under the MoIT's management, a bid to improve Vietnam's business environment.

According to the Minister of Industry and Trade 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% of the total number of tariff codes.

The PM also applauded the MoIT for the effective restructuring of its organisational apparatus, particularly the reduction of a number of its divisions.

He also praised the ministry for the successful state divestment in Saigon Beer Alcohol Beverage Corp (Sabeco) which helped the State to earn nearly US$5 billion, noting that state divestment is an effective solution to prevent corruption and accelerate equitisation.

Minister Tran Tuan Anh added that the industry sector made outstanding achievements in 2017 including the record high export revenue of over US$200 billion, the high industrial production index growth of 9.4%, the inflation curbed at 3.53%, among others.

Theo NDO