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Plan to reduce and simplify regulations related to business activities within the scope and management functions of the State Bank of Vietnam

Việt NamViệt Nam19/10/2023

The Government has issued Decision No. 1205/QD-TTg approving the Plan to reduce and simplify regulations related to business activities under the scope and management functions of the State Bank of Vietnam . Thereby, the Government assigns the State Bank of Vietnam and relevant ministries and branches within their authority to be responsible for implementing in accordance with the content and deadline of the Plan to reduce and simplify regulations related to business activities approved at.

During the implementation process, the State Bank of Vietnam shall proactively detect and promptly amend, supplement, replace or abolish, cancel relevant regulations under its authority or make written proposals to the Ministry of Justice and the Government Office for Laws, Decrees of the Government, Decisions of the Prime Minister with regulations related to business activities that need to be amended, supplemented, replaced or abolished, canceled to implement the approved Plan to reduce and simplify regulations related to business activities.

business regulation reform

Illustration photo. Source: Internet

Regarding the content of reduction and simplification, such as removing the document component: "Business registration certificate or cooperative registration certificate or equivalent document". Reason: Directly exploiting information about enterprises, credit institutions, foreign bank branches in the National Database on Business Registration. Removing the document component: "Document confirming the title of the person requesting the issuance and supplementing of digital certificate services". Reason: Providing a document confirming the title is not really necessary in the issuance of digital certificates. Removing this document component helps reduce printing costs, save time, and is convenient for the implementing subjects.

Shorten the time to handle administrative procedures from 05 working days to 03 working days. Reason: Ensure the urgency and timeliness in providing digital signature certification services of the State Bank of Vietnam (SBV) to agencies, organizations and individuals. Propose to implement amendments and supplements to Article 5 of Circular No. 28/2015/TT-NHNN dated December 18, 2015 of the SBV regulating the management and use of digital signatures, digital certificates and digital signature certification services of the SBV, amended and supplemented by Circular No. 10/2020/TT-NHNN dated November 2, 2020 of the SBV amending and supplementing a number of articles of Circular No. 28/2015/TT-NHNN dated December 18, 2015 regulating the management and use of digital signatures, digital certificates and digital signature certification services of the SBV.

Illustration photo. Source: Internet

Regarding the extension and change of digital certificate information content (TTHC code: 1.000218), the content is reduced and simplified to shorten the time to handle TTHC from 05 working days to 03 working days for the reason of ensuring the urgency and timeliness in providing digital signature certification services of the State Bank to agencies, organizations and individuals. Proposal to implement amendments and supplements to Article 6 of Circular 28/2015/TT-NHNN dated December 18, 2015 of the State Bank of Vietnam regulating the management and use of digital signatures, digital certificates and digital signature certification services of the State Bank of Vietnam (amended and supplemented by Circular No. 10/2020/TT-NHNN dated November 2, 2020 of the State Bank of Vietnam amending and supplementing a number of articles of Circular No. 28/2015/TT-NHNN dated December 18, 2015 regulating the management and use of digital signatures, digital certificates and digital signature certification services of the State Bank of Vietnam).

Regarding the temporary suspension of digital certificates (TTHC code: 1.000213), the content is to reduce and simplify the time to handle administrative procedures from 03 working days to 01 working day, the reason is to ensure the urgency and timeliness in providing digital signature certification services of the State Bank to agencies, organizations and individuals. Regarding implementation recommendations such as: amending and supplementing Article 7 of Circular 28/2015/TT-NHNN dated December 18, 2015 of the State Bank of Vietnam regulating the management and use of digital signatures, digital certificates and digital signature certification services of the State Bank of Vietnam (amended and supplemented by Circular No. 10/2020/TT-NHNN dated November 2, 2020 of the State Bank of Vietnam amending and supplementing a number of articles of Circular No. 28/2015/TT-NHNN dated December 18, 2015 regulating the management and use of digital signatures, digital certificates and digital signature certification services of the State Bank of Vietnam).

Amending and supplementing Article 8 of Circular 28/2015/TT-NHNN dated December 18, 2015 of the State Bank of Vietnam regulating the management and use of digital signatures, digital certificates and digital signature certification services of the State Bank of Vietnam, amended and supplemented by Circular No. 10/2020/TT-NHNN dated November 2, 2020 of the State Bank of Vietnam amending and supplementing a number of articles of Circular No. 28/2015/TT-NHNN dated December 18, 2015 regulating the management and use of digital signatures, digital certificates and digital signature certification services of the State Bank of Vietnam. Amending and supplementing Article 11 of Circular 28/2015/TT-NHNN dated December 18, 2015 of the State Bank of Vietnam regulating the management and use of digital signatures, digital certificates and digital signature certification services of the State Bank of Vietnam, amended and supplemented by Circular No. 10/2020/TT-NHNN dated November 2, 2020 of the State Bank of Vietnam amending and supplementing a number of articles of Circular No. 28/2015/TT-NHNN dated December 18, 2015 regulating the management and use of digital signatures, digital certificates and digital signature certification services of the State Bank of Vietnam. Amending and supplementing Article 10 of Circular 28/2015/TT-NHNN dated December 18, 2015 of the State Bank of Vietnam regulating the management and use of digital signatures, digital certificates and digital signature certification services of the State Bank of Vietnam, amended and supplemented by Circular No. 10/2020/TT-NHNN dated November 2, 2020 of the State Bank of Vietnam amending and supplementing a number of articles of Circular No. 28/2015/TT-NHNN dated December 18, 2015 regulating the management and use of digital signatures, digital certificates and digital signature certification services of the State Bank of Vietnam.

Regarding the removal of dossier components such as copies of the establishment and operation licenses of credit institutions and foreign bank branches specified in Point b, Clause 2, Article 9 of Circular No. 17/2015/TT-NHNN; copies of the establishment licenses of credit institutions' affiliates specified in Point b, Clause 3, Article 9 of Circular No. 17/2015/TT-NHNN; copies of the establishment and operation licenses specified in Point b, Clause 4, Article 9 of Circular No. 17/2015/TT-NHNN. Amending the form of request for bank codes, the form of request for online bank code management accounts in a simplified manner, suitable for implementation in the electronic environment: Amending Appendix No. 01, Appendix No. 04 attached to Circular No. 17/2015/TT-NHNN dated October 21, 2015 of the State Bank regulating the system of bank codes used in banking operations and business./.

Bui Tue


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