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.

Workers at Vietnam Post loading up parcels at a distribution centre in HCM City.
(Photo: VNA)

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.

The official said his ministry's focus during 2020 was to support business activities and firms. It has also been working on 17 proposals which aimed to improve ease of doing business in Vietnam with a number of policy breakthroughs.

Dong said the MPI will continue to review the 2020 Law on Investment to further remove additional conditions for businesses that specialise in work safety equipment, postal offices, publishing and pay television.

It has been at the forefront of administrative reform with concerted efforts across all of its departments to simplify and shorten the required time to process business applications and procedures.

The ministry has introduced a portal allowing businesses to submit forms and applications online to save time and expenses. The portal also helps the MPI to shorten its processing time and improve accountability and transparency across its departments.

Dong said the MPI has been pushing for faster digitalisation with the establishment of a national business register, a key component in a future e-government system. The register has been well-received and widely accessed by the business community. It has helped thousands of businesses connect with each other and proved to be a valuable management tool for the MPI.

He said the ministry's key objectives in 2021 include extensive reviews on current policies and legal frameworks on investment and global integration. The MPI will also launch a number of initiatives with a focus on helping localities and businesses improve productivity, quality of products and services as well as business competitiveness./.