The Prime Minister’s working group has asked the ministries of Finance and Planning and Investment to swiftly lift the foreign ownership limit of 49 percent at enterprises where foreign investment is not restricted (Photo: baodauthau.vn)Hanoi (VNA) - The Prime Minister’sworking group has asked the ministries of Finance and Planning and Investmentto swiftly lift the foreign ownership limit of 49 percent at enterprises whereforeign investment is not restricted.
The request for removing the foreignownership restriction at certain businesses is mentioned in a report of the PM’sworking group on the implementation of the assignments given by the Governmentto ministries and agencies and on results of inspections last month.
From January 1 last year to April 30, the Governmentassigned ministries, agencies, cities and provinces more than 26,700 tasks, ofwhich nearly 15,900 have been completed.
Particularly, ministries of Finance,Industry and Trade, and Agriculture and Rural Development have so far cutnumerous business conditions.
The PM’s working group said it conductedinspections at the Ministry of Finance and Vietnam Cement Industry Corporation(VICEM) in April.
Accordingly, the group concluded that theMinistry of Finance has accomplished 1,340 out of nearly 1,600 assigned tasks.However, many business conditions for enterprises under its management stilloverlap and are unreasonable, so the ministry plans to simplify or abolish 188of 370 conditions.
In addition, the ministry is told to imposestrict sanctions on officials found to harass businesses, and direct theGeneral Department of Taxation and the General Department of Customs to lowertax debts to below 5 percent of State budget revenue.
The ministry must also complete thedrafting of a law amending tax regulations to support enterprises, ensuresufficient tax collections and propose new tax policy for small enterprises,especially those converted from household businesses.
Meanwhile, the inspection at VICEM foundthat the corporation has grown strongly, and secured a domestic market share of35-36 percent. It has created jobs for a huge number of workers, andcontributed significantly to the country’s socio-economic development.
However, VICEM must handle its shortcomingsin some investment projects, the shift to advanced technology, land andproperty management and cooperation with other firms to make use of by-productsof the sector.-VNA
The request for removing the foreignownership restriction at certain businesses is mentioned in a report of the PM’sworking group on the implementation of the assignments given by the Governmentto ministries and agencies and on results of inspections last month.
From January 1 last year to April 30, the Governmentassigned ministries, agencies, cities and provinces more than 26,700 tasks, ofwhich nearly 15,900 have been completed.
Particularly, ministries of Finance,Industry and Trade, and Agriculture and Rural Development have so far cutnumerous business conditions.
The PM’s working group said it conductedinspections at the Ministry of Finance and Vietnam Cement Industry Corporation(VICEM) in April.
Accordingly, the group concluded that theMinistry of Finance has accomplished 1,340 out of nearly 1,600 assigned tasks.However, many business conditions for enterprises under its management stilloverlap and are unreasonable, so the ministry plans to simplify or abolish 188of 370 conditions.
In addition, the ministry is told to imposestrict sanctions on officials found to harass businesses, and direct theGeneral Department of Taxation and the General Department of Customs to lowertax debts to below 5 percent of State budget revenue.
The ministry must also complete thedrafting of a law amending tax regulations to support enterprises, ensuresufficient tax collections and propose new tax policy for small enterprises,especially those converted from household businesses.
Meanwhile, the inspection at VICEM foundthat the corporation has grown strongly, and secured a domestic market share of35-36 percent. It has created jobs for a huge number of workers, andcontributed significantly to the country’s socio-economic development.
However, VICEM must handle its shortcomingsin some investment projects, the shift to advanced technology, land andproperty management and cooperation with other firms to make use of by-productsof the sector.-VNA
VNA
