PM asks for reduction of conditional business lines

August 27, 2014 | 15:04

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PM Nguyen Tan Dung has tasked inferior levels to review and cut down conditional lines of business and business conditions along with streamlining administrative procedures.

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This is part of the Government’s effort to prepare amendments to the Law on Investment.

A new list of conditional lines of business and business conditions must be envisaged to support the expansion of the rights of people and enterprises to conduct business as well as the country’s current international integration in investment and trade areas.

The Government will periodically review and make public the list of conditional lines of business and conditional business for nationwide application.

For domains banned from investment, the Government chief assigned the Ministry of Planning and Investment to coordinate with relevant ministries and agencies to review and propose abrogation of business lines that should not be banned.

Amendments to the Law on Investment will be submitted to the National Assembly for consideration at its eight working session in October this year.

The Government is also proposing draft amendments to the Law on Enterprises in accordance with the Constitution which was revised and passed by the Legislature in 2013.

Reforming the Law on Investment and the Law on Enterprises is a step forward to improving the country’s market-economy institutions and creating a favorable investment environment for investors.

VGP

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