Proposal to apply business conditions only to gold bar production

On the morning of October 17, continuing the 50th session, the National Assembly Standing Committee (NASC) gave opinions on the draft Investment Law (replacement).

Deputy Secretary General of the Vietnam Chamber of Commerce and Industry (VCCI) Dau Anh Tuan gives comments to perfect the draft law.

Presenting the draft law, Deputy Minister of Finance Nguyen Thi Bich Ngoc said that currently, most conditional business sectors apply the pre-inspection mechanism, which means that a license must be obtained before doing business. With the new regulation, many sectors can switch to the post-inspection mechanism to limit barriers to market entry for businesses and promote business freedom.

Delegates attending the meeting

Agreeing with the reduction, Chairman of the Economic and Financial Committee Phan Van Mai proposed to continue researching and reviewing the reduction of more conditional investment and business sectors and professions, substantially reducing investment and business conditions, only retaining the truly necessary conditions for the constitutional reason of ensuring national defense, security, order, morality, and public health.

Attending the meeting, Deputy Secretary General of the Vietnam Chamber of Commerce and Industry (VCCI) Dau Anh Tuan assessed that the draft law has eliminated many conditional business lines. However, according to VCCI's point of view, "there is still room for further elimination."

To give a specific example, with the research and manufacturing of unmanned aerial vehicles (UAV), the risk comes from the use, not the research and manufacturing. Putting research and manufacturing into a conditional business line, requiring licensing, will limit the creative space that should be encouraged.

Delegates attending the meeting

Another industry that the VCCI representative also proposed to remove from the list of conditional businesses is the operation of crematoriums. According to him, the facility investor will choose a reputable operating unit, and environmental issues of these facilities should be managed according to environmental laws. The fertilizer business also does not need business conditions, but only needs to manage quality and production processes.

In particular, emphasizing gold trading activities, Mr. Dau Anh Tuan said that it is only necessary to apply business conditions to gold bar production, but "gold trading" in general, "sweeping" from import to gold bar production, gold jewelry production and trading or other services is too broad. "Associations and businesses complain about this issue a lot," this expert reflected.

The current Investment Law stipulates 234 conditional business lines. Most conditional business lines apply a pre-inspection mechanism, meaning that a license must be obtained before being allowed to operate.

MR. PHUONG

Source: https://www.sggp.org.vn/de-xuat-chi-ap-dung-dieu-kien-kinh-doanh-voi-san-xuat-vang-mieng-post818504.html