Tuesday, November 13 2018

VietNamNews

Finance ministry continues to cut administrative red tape

Update: November, 08/2018 - 07:00
Minister of Finance Đinh Tiến Dũng
Viet Nam News

Promoting administrative reform in the finance and budget sector to create favourable conditions for individuals and businesses was one of the key tasks being implemented by the Ministry of Finance. Minister of Finance Đinh Tiến Dũng talks to Vietnam News Agency about the issue.

What results has the MoF achieved in its efforts to reform institutions and policies?

The ministry has amended, supplemented and promulgated a large number of laws, decrees and circulars to remove difficulties in production and improve the business environment. This has provided a legal basis for simplifying administrative procedures, cutting down business conditions and modernising management.

At the same time this has helped individuals and businesses and increased transparency during the implementation of administrative procedures.

In addition, the ministry has monitored new administrative procedures from the draft stage to completion, as well as reviewing existing procedures and improving quality of the administrative procedures in the finance sector.

The ministry implemented a review of 248 administrative procedures and simplified 962 from 2011-2015.

From 2016 to October 2018, the ministry revised 174 administrative procedures.

To continue implementing administrative reforms, the ministry has instructed its agencies to abolish unnecessary administrative procedures and procedures that make it difficult for individuals and businesses.

At present, the agencies have recommended 140 administrative procedures to be cut and  28 to be simplified.

The ministry has also submitted a draft decree to the Government to amend and supplement a number of decrees on investment and business conditions, which is expected to cut 117 procedures.

How has the ministry gone about these reform efforts?

The ministry has improved the efficiency of the financial sector through administrative reforms.

These reforms have improved the business environment and enhanced national competitiveness, especially in tax collection and cross-border trade.

In addition, the organisational structure of the ministry has been updated according to management requirements.

Public finance has been reformed to ensure security. The ministry has focused on modernising the financial sector, including upgrading equipment and the use of information technology to meet the requirements of modernization.

What will the ministry do to continue its reform of administrative procedures?

The ministry will continue to accelerate the implementation of administrative reforms to meet the requirements of ASEAN-4 towards the Organization for Economic Co-operation and Development (OECD) standards. The ministry will focus on solutions to direct its leaders and give them a further sense of responsibility. It will improve the quality of legal documents and continue the reform of administrative procedures.

At the same time, the ministry will build efficient administrative measures and train staff in the finance sector.

The ministry will also apply further information technology for the reform process to meet the requirements of Industry 4.0. — VNS

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