State management favors business & investment

PM Nguyen Tan Dung chairs the Cabinet’s standing members and ministry and sector officials on the lists of prohibited and conditional businesses, and those entitled to investment preferential treatments, Ha Noi, August 20, 2014 - Photo: VGP/Nhat Bac

The Government chief made the remark on August 19 while presiding over a meeting with the Cabinet’s standing members and ministry and sector officials on the lists of prohibited and conditional businesses, and those entitled to investment preferential treatments in accordance with the draft investment law (amended) and the draft enterprise law (amended) which would be submitted to the National Assembly.

The Ministry of Planning and Investment (MoPI) proposed a list of eight prohibited businesses instead of the current figure of 51. The Ministry also suggested cutting 56 of the current 386 conditional businesses.

The Cabinet leaders and ministry officials generally agreed with the MPI’s proposals, suggesting the Ministry to continue reviewing the proposals to ensure quality and feasibility in practice; people’s freedom right to business and investment; and the effectiveness of State management.

Addressing the meeting, the Government leader praised the proposals of the MoPI; requesting it to continue collecting comments and finalizing the lists of prohibited and conditional businesses.

He also noted the need to safeguard business rights of people and enterprises; develop market-driven economy, international integration, improve investment environment, sharpen national competitiveness; strengthen State management, administrative reform and prevent corruption.

Regarding the list of business sectors, industries and localities entitled to investment preferential treatment as prescribed by the draft laws on Investment and Enteprise, PM Dung agreed that such preferential treatment will not given to the mining of natural resources and minerals and about 40 other sectors, industries, products and services that are subject to special consumption tax./.  

By Kim Loan