Vietnam applies OECD standard to abolish sub-license
(VOVWORLD) - The Vietnamese government has asked the Ministry of Planning and Investment to review business conditions based on the market principles of the Organization for Economic Cooperation and Development (OECD) in order to abolish competitive restrictions by December of this year.
The Vietnam Chamber of Commerce and Industry (VCCI) reported that there are more than 5,700 sub-licenses out of 243 conditional business lines. The Ministry of Industry and Trade has the largest number of sectors with 27 requiring 1,220 sub-licenses, and the Ministry of Construction has the smallest number with 17 requiring 106 sub-licenses.
The Prime Minister has asked ministries to review and report before August 25, and called for detailed measures to support businesses.