PM seeks comprehensive review of business sectors

Thien Thanh Sanitaryware joint company

PM seeks comprehensive review of business sectors

Prime Minister Nguyen Tan Dung yesterday sought a thorough review of the list of sectors where business is either banned or regulated, to create the best possible environment for people and enterprises.

The Prime Minister made the request during the Government meeting of concerned ministries and sectors in the capital city to discuss amendments and supplements to the laws on investment and enterprises.

At the meeting, the Ministry of Planning and Investment (MPI) proposed a reduction in the number of prohibited business sectors, from 51 to only eight, as well as the number of conditional business sectors, from 386 to only 330.

Regulations on conditional business sectors are stated in 391 legal documents that include laws, decrees, circulars and decisions.

The Prime Minister asked the MPI to get opinions on and review the list of prohibited and conditional business sectors so it could be presented at the coming meetings of the National Assembly (NA) and the NA Standing Committee.

He also expressed agreement with the ministry's proposal that sectors in natural and mineral resources exploitation, along with 40 sectors, products and services bearing the special consumption tax, be taken off the list of business sectors and domains with preferential policies.

Dung said that in line with regulations on people's right to do business, any limitation on these rights must be regulated and stated clearly in laws.

"This is important as it reflects the principle that people and enterprises and have the right to invest and do business in all sectors not prohibited by law," the Prime Minister added.

He also said that the creation of the list and the crafting of relevant regulations must ensure the improvement of the country's business and investment environment and enhance the nation's capability to compete in the world market.

The list and regulations must also improve the effectiveness of State management and administration reform by ensuring transparency in implementation, to prevent wrongdoing and corruption, he added.

"State management does not mean we create favourable conditions for ourselves but instead, create the most favourable conditions for people and enterprises to invest and do business," the Prime Minister said.

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