Chinhphu.vn reported that according to the review results of the Ministry of Finance, the Ministry currently has 370 business conditions. In response to the Government's request, the Ministry proposed to abolish 99 conditions and simplify 94 conditions.
For example, in tax services, the Ministry proposed to remove the human resource requirement of "having full civil act capacity, good qualities, ethics, honesty, strict compliance with the law".
In insurance business, the Ministry proposes to remove the regulation on contributing capital in cash because the current Enterprise Law allows investors to contribute capital in various forms (not just in cash).
Instead, only regulate the principle that investors must use their own contributed capital to contribute capital; ensure that the capital contribution does not affect the business operations of enterprises and meets the provisions of specialized laws.
Similar to foreign organizations, the Ministry proposed to remove the regulation that insurance companies must be, with the reason being to attract more investors to participate in the market.
Regarding the conditions for establishing an insurance joint stock company, the Ministry of Finance proposes to remove the regulation that within 3 years from the date of granting the license, the founding shareholders must jointly own at least 50% of the common shares that are allowed to be offered for sale by the insurance joint stock company.
In the field of securities, the Ministry said it is currently assigned to preside over the development of the amended Securities Law. According to the plan, this Law is included in the 2018 Law Development Program, submitted to the National Assembly for consideration and approval in 2019. Therefore, the implementation of the plan to simplify and abolish conditions will be fully studied during the process of drafting the Law and documents guiding its implementation.
However, through the review, the Ministry also mentioned a series of business conditions such as establishing a securities trading company must have 100 billion VND (if self-mscribed for securities) or 165 billion (if guaranteed for issuing securities). Along with that are personnel requirements such as adequate civil act capacity...; conditions for working headquarters, facilities, equipment...
In the customs sector, it is expected that there will no longer be a requirement for agents to carry out customs procedures to have a college degree or higher in any economic, legal, or technical field, but only a college degree or higher in any field.
Also in the customs sector, the Ministry proposed to amend regulations on software. Currently, enterprise software must meet the criteria for managing imported goods, storing and remaining goods of warehouses, locations for each item, purchasers, customs declarations, etc. The Ministry believes that these software only need to meet the requirements of directly connecting to the Customs electronic data processing system to provide information.
For debt collection service business, the Ministry proposes to cut down on conditions for those with full civil act capacity, no criminal records for managers, branch directors and workers...
The Ministry also proposed to simplify many conditions in the fields of playing video games with prizes for foreigners, casino business, horse racing betting business, dog racing betting...
