On May 28, 2020, the Governor of the State Bank of Vietnam (SBV) signed for issuance the SBV’s Plan on reducing and simplifying the regulations related to the business operations, in line with the Government's Resolution No. 68/NQ-CP dated May 12, 2020.
Illustrated photo
The plan is composed of the following substances: (i) The tasks of preparation, monitoring, providing guidance, inspection and urging the implementation; (ii) Conducting the statistical work, calculating the costs of compliance with the regulations related to the business operations; (iii) Implementing reviews and evaluations; calculating the costs of compliance following simplification; proposing options for reducing and simplifying the regulations related to the business operations; (iv) Implementing the options for reducing and simplifying the regulations related to the business operations upon approval by the Prime Minister.
In this Decision, the Governor has assigned the heads of the responsible SBV entities to organize the implementation of the Plan on reducing and simplifying the regulations related to the business operations in 2020 in accordance with the assigned tasks. In addition, the entities are also required to strictly control the issuance of any documents with regulations related to the business operations as prescribed by law, especially the administrative documents and circulars of the SBV, minimize the number of current documents that regulate the business operations within the jurisdiction of the SBV, prevent the creation of unnecessary, unreasonable and illegal regulations which may cause obstacles to the business operations of the businesses and the people.
The SBV Office will take lead, monitor and urge the implementation of the Plan, periodically report to the SBV Governor on necessary measures to ensure the effective and timely implementation of the Plan.
This Decision took effect from the date of signing.
VA