Gov’t to cut, simplify at least 20 per cent regulations on business
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| Gov’t to cut, simplify at least 20 per cent regulations on business, illustration photo |
The Government will also slash at least 20 per cent of business procedure compliance costs as currently regulated while minimizing the number of legal documents related to business operations
In 2020, the Government targets to launch a statistics system to control business regulations and improve capacity of staff in charge of calculating compliance costs and evaluating the business regulations.
Ministries and Governmental bodies are assigned to adopt and implement annual plans on reduction and simplification of business-related regulations in order to rule out the regulations that hinder business operations.
They are also tasked to collect comments sent by businesses and people to the National Public Service Portal, or via dialogues and consultations to have a list of procedures/regulations that need to be cut or simplified.
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