Finance Ministry to simplify 71 administrative procedures
The Government has issued Resolution 104/NQ-CP on streamlining administrative procedures and citizens’ documents related to resident management in the jurisdiction of the Finance Ministry.
Hanoi (VNA) – The Governmenthas issued Resolution 104/NQ-CP on streamlining administrative procedures andcitizens’ documents related to resident management in the jurisdiction of theFinance Ministry.
Accordingly, a total of 72administrative procedures will be simplified, including 32 in the field of securities,37 in taxation and two in customs.
Prime Minister Nguyen Xuan Phuchas repeatedly made the call for accelerating the reform of administrativeprocedures to bolster growth, noting that the public and business communitystill complain about prolonged and cumbersome administrative processes in manyState agencies.
He also requested improvingtaxation and customs procedures to boost export, which is a key factor togrowth.
On September 21, the Ministry ofIndustry and Trade (MoIT) decided to cut down 675 business and investmentconditions, equivalent to 55.5 percent of the total conditions.
This is the largest number ofconditions cut by the ministry so far, 63 conditions more than theinitially-projected figure. -VNA
The Ministry of Industry and Trade (MoIT) plans to streamline 464 to 612 conditions for establishing new businesses, equivalent to some 38.15 to 50.3 percent of the total business conditions.
Removing barriers and improving the business environment would contribute to reaching economic growth targets in the context of a tight State budget, director of the Ministry of Planning and Investment’s National Economic Issues Department Tran Quoc Phuong.
The Ministry of Industry and Trade (MoIT) has decided to cut down 675 business and investment conditions, equivalent to 55.5 percent of the total conditions.
The Government has approved a plan to simplify administrative procedures, citizenship papers and databases related to population management run by the Ministry of Labour, Invalids and Social Affairs (MoLISA).
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Finance Ministry to simplify 71 administrative procedures (Illustrative image. Source: VNA)
