A report on 2017 Business Conditions launched recently by the Central Institute for Economic Management (CIEM) shows that 234 business sectors require new legal prerequisites.
A report on 2017 Business Conditions by the Central Institute for Economic Management shows that 234 business sectors require new legal prerequisites (Photo: VNA)
Hanoi (VNA) - A report on 2017 BusinessConditions launched recently by the Central Institute for Economic Management(CIEM) shows that 234 business sectors require new legal prerequisites. Therecurrently are around 300 legal documents laying out business sectorprerequisites.
Sectors with the most prerequisites includeindustry and trade, transportation, health care, finance and agriculture andrural development.
“All of this legal red tape has been a majorbarrier to the country’s progress toward improving the business and investmentclimate in recent years,” Phan Duc Hieu, CIEM’s Deputy Director, said.
Business conditions should be classified intocategories such as preconditions concerning legality, production capacity,human resources and financial capacity.
Vietnam aims to develop a market-based economy,but the current amount of regulations and prerequisites intervenes too much andcauses “the economy to suffer,” said Hieu.
Hieu pointed out that unreasonable businesspreconditions are creating a number of problems: creating business risks,limiting creativity and undermining business stimulation, erodingcompetitiveness, pushing up costs and badly affecting resource allocation andsmall and medium – sized enterprises.
“It is important that State management must nothinder business operation,” Hieu stressed.
Worried about the “distortion” of businessconditions, Dau Anh Tuan, head of Legal Department under the Vietnam Chamber ofCommerce and Industry, said that business conditions are more complicated and“distorted” into other forms such as notices or plans. “Business conditions aresometimes issued to eliminate competitors,” he said.
Tuan said that an independent agency should befounded to evaluate the impacts of business conditions and simplify conditionsto facilitate business operation.
Director of CIEM, Nguyen Dinh Cung, said that arenovation in thinking is needed.
To boost business development, Cung said that itwas critical to remove conditions that create risks, push up costs, and preventcompetition and unfairness to businesses.
Drastic measures should be taken not only inremoving unreasonable business prerequisites but also in other unwieldy regulations,he said. “For too long, we have not seen significant improvement.” - VNA
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A report on 2017 Business Conditions by the Central Institute for Economic Management shows that 234 business sectors require new legal prerequisites (Photo: VNA) 
