Key targets for 2025 include a minimum 30% reduction in administrative processing time, compliance costs, and business conditions.

The Hanoi People’s Committee has requested the elimination of at least 30% of unnecessary business conditions, and the reduction of administrative processing time by the same margin in a move to bolster economic growth.

In a document issued on March 11, the Hanoi People’s Committee stressed the need to mobilise all economic sectors, businesses and citizens to engage in socio-economic development, contributing to national growth. All institutional frameworks, mechanisms, and policies must be aligned with the objective.

In his March 9 official dispatch, Prime Minister Pham Minh Chinh urged ministries, agencies, and localities to focus on thoroughly reviewing, reducing, and simplifying regulations and administrative procedures related to investment, production, business activities, and citizens' daily lives.

Besides reducing business conditions, a number of ministries and sectors have continued to issue and enforce new business conditions with stricter requirements that cause difficulties for enterprises, said Deputy Minister of Planning and Investment Tran Duy Dong.

Cutting down business condition number is one of the key solutions that the Government has worked out to improve the business environment and national competitiveness in 2023, stated Deputy Minister of Planning and Investment (MPI) Tran Huy Dong at a conference in Hanoi on July 6.

The revenue to the state budget in the first 9 months of this year amounted to 1,084.7 trillion VND, representing 80.75 percent of the projection and an increase of 10.75 percent over the figure recorded in the same period last year, according to the Finance Ministry.

Over 400 business conditions were cut in the recently passed Law on Investment last year, according to Deputy Minister of Planning and Investment (MPI) Tran Duy Dong.

Prime Minister Nguyen Xuan Phuc has praised the efforts of the PM’s Working Group in implementing the operational orientations of the Government.

The Vietnam Manufacturing Purchasing Managers' Index (PMI) was 51.3 in January, down from 51.7 in December, to signal a softer improvement in business conditions at the start of 2021.

A conference was held in Hanoi on January 21 to discuss measures to improve the domestic business environment and competitiveness of the economy as well as orientations for the next five years.

Reductions in business conditions and related administrative procedures have helped save about 18 million workdays, or 6.3 trillion VND (273.4 million USD), each year, Minister and Chairman of the Government Office Mai Tien Dung said.

In recent times, thousands of business conditions, product categories subject to customs checks, and administrative procedures have been cut and simplified in accordance with Government Resolution 68, facilitating production and business activities, significantly contributing to improving the investment and business environment and national competitiveness.

The elimination of business conditions has helped ease burden on enterprises, but much work needs to be done to boost the effectiveness, heard a workshop in Hanoi on February 27.

The opening month of this year saw a modest improvement in business conditions in the Vietnamese manufacturing sector, according to a report by a London-based information services firm.

Vietnam must identify, implement and build management models for sharing economy applications in the country’s major sectors such as banking and transport to ensure a fair business playground and protect all involved parties, said economics experts at a conference on the sharing economy in Hanoi on October 10.

Prime Minister Nguyen Xuan Phuc has required ministries, sectors and localities to focus on completing all socio-economic targets set by the National Assembly.

The Ministry of Health has announced nine outstanding events of the health sector in 2018.

Improving the business environment and national competitiveness is a core policy priority of the Vietnamese Government in 2019.

The Ministry of Industry and Trade (MoIT) is currently taking the lead in the removal of business conditions and goods from the list of those subject to specialised examination, according to a report.