Government requires to reduce costs for businesses

SGGP
The Government has required provinces and ministries to simplify administrative procedures and reduce costs for businesses in the recently issued resolution of the regular cabinet meeting in July.

Footwear making at Bitis Company (Photo: SGGP)

Footwear making at Bitis Company (Photo: SGGP)

Specifically, provincial people’s committees should simplify administrative procedures to reduce fees for businesses. Ministries and authorized agencies should decrease inspection procedures and cut the ratio of import consignments in need of specialized inspections to 15 percent from 30-35 percent now.
The Ministry of Science and Technology should remove at least 50 percent of commodities from Group 2, subject to inspection before customs clearance of 12 ministries, before June, 2018.
The Ministry of Industry and Trade should have measures to lower logistics costs to account for 28 percent of gross domestic product (GDP) by 2018 and 20 percent by 2020.
In the short term, the Ministry of Health and Vietnam Social Insurance Agency should not increase health insurance premium to prevent from raising costs for businesses.

By H.MY – Translated by Hai Mien

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