Government sets metrics to improve business conditions and national competitiveness in “Resolution 19,” Mar 2014

PM Nguyen Tan DungThree of the key performance metrics include ASEAN-6 averages by 2015: reduce time required to start new businesses to no more than 6 days; reduce tax procedures to 171 hours/year; reduce the time for import to 13 days and export 14 days.

Based on discussion among members of the Government and pursuant to the conclusions of the Prime Minister in the Government regular meeting in February 2014, the Government issued Resolution No. 19/NQ-CP, Mar 18, 2014. Highlights include:

In the 2014 – 2015 period, priority will be given to improving business conditions and enhancing administrative reforms by shortening time for processing and completion of administrative procedures, reducing administrative costs, and strengthening transparency and accountability of state administrative agencies. The goal is to reach, by 2015, the average of the ASEAN-6 group with the following specific performance metrics:

– To streamline procedures and shorten the time required to start new businesses to no more than 6 days; to improve other steps involved to abridge the time from registration to the commencement of business;

– To further reform file processing practices and tax payment procedures and reduce the time required of businesses to complete tax payment procedures to the average of the ASEAN-6 group (being 171 hours/year); .

– To reduce the time required of businesses and investment projects to get access to electricity to no more than 70 days (compared to the average of 50.3 days of the ASEAN-6 group);

– To improve rules of protection of IPRs and investors in the Investment Law and the Enterprise Law towards protecting property rights, investors and minority shareholders in line with international standards;

– To facilitate and ensure equality, openness and transparency in market-based access to credit among enterprises, organizations and individuals of all economic sectors;

– To streamline processes, to simplify record-related requirements, export and import procedures and customs formalities, and to reduce the time for import and export clearance to the average of the ASEAN-6 group (being 14 days to export and 13 days to import);

– To reduce the time to deal with business insolvency to less than 30 months;

– To engage in publicizing, with greater transparency, information about business performance and financial standing in accordance with law and in line international best practices.

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NGHỊ QUYẾT VỀ NHỮNG NHIỆM VỤ, GIẢI PHÁP CHỦ YẾU CẢI THIỆN MÔI TRƯỜNG KINH DOANH, NÂNG CAO NĂNG LỰC CẠNH TRANH QUỐC GIA, Số: 19/NQ-CP, Hà Nội, ngày 18 thắng 03 nâm 2014

RESOLUTION ON KEY DUTIES AND SOLUTIONS TO IMPROVE  BUSINESS ENVIRONMENT AND NATIONAL COMPETITIVENESS, No. 19/NQ-CP, Ha Noi, Mar 18, 2014