The Government has recently submitted to the National Assembly for consideration a draft amended Investment Law, proposing the removal of an additional 58 conditional business sectors. This is expected to create more room for businesses to enter the market.

Maritime port operation and exploitation are no longer included in the list of conditional business sectors. In the photo: A view of Phuoc An Port. Photo: Vuong The

However, a major issue has been raised: cutting business conditions cannot simply mean reducing the number of items on the list, but must genuinely reduce procedures, costs, and barriers for businesses.

Reducing Business Procedures

According to the Government's proposal, the draft law amending and supplementing Article 6 and Appendix IV on the list of conditional business sectors of the Investment Law is expected to remove 58 conditional business sectors. The goal is to further simplify investment and business conditions, shift strongly from pre-inspection to post-inspection, and create an open and transparent investment environment while ensuring effective state management.

This is the next step following July 1, 2026, when the number of conditional business sectors was reduced from 198 to 142 under Government Resolution No. 66.17/2026/NQ-CP on cutting and amending conditional business sectors. Within a short period, the Government has issued 11 resolutions related to reducing business conditions and administrative procedures.

Previous reviews focused on sectors that no longer genuinely required regulation through business conditions, areas that could be managed through technical standards and regulations or shifted to post-inspection, as well as unclear or overlapping conditions or those already controlled through other regulatory mechanisms.

According to Minister of Finance Ngo Van Tuan, the removal of 58 conditional business sectors and the revision of the scope of 16 sectors are expected to eliminate approximately 786 business conditions and 232 administrative procedures, reducing compliance costs by about VND 175 billion per year. The time required to carry out procedures is expected to decrease by approximately 7,500 hours per year, creating greater convenience for people and businesses in production and business activities.

According to experts, as the country strives to achieve double-digit economic growth, creating favorable conditions for businesses is extremely important. The private economic sector is facing dual pressure from long-standing structural limitations and unpredictable external developments. Small and medium-sized enterprises and household businesses are among the most vulnerable groups. Appropriate and timely legislative policies can provide significant support for the resilience of the business community.

Need for Effective and Substantive Reform

At the National Assembly session on August 5, during discussions on the draft law amending and supplementing Article 6 and Appendix IV on the list of conditional business sectors of the Investment Law, National Assembly delegate Trinh Xuan An from the Dong Nai City delegation said that the reduction of investment and business conditions needs to be carried out accurately and effectively, rather than focusing solely on reducing the number of conditions. What matters is not how many conditional business sectors are removed, but what regulatory tools the State will use afterward to ensure public interests and effective state management.

Products of a Dong Nai-based business displayed at the Private Economic Forum.

Similarly, commenting on the reduction of business conditions, Dau Anh Tuan, Deputy Secretary-General and Head of the Legal Department of the Vietnam Chamber of Commerce and Industry (VCCI), said that the Government has issued numerous policies to reduce business conditions, which have been strongly welcomed by the business community. Practices aimed at merely responding formally, such as merging two conditional business sectors into one simply to mechanically reduce the number of sectors, have been firmly addressed by Government leaders. This demonstrates that reform must not stop at formal changes but must be substantive and effective.

Nevertheless, the gap between policy and implementation remains significant. In practice, many “hidden business conditions,” overlapping regulations, and shortcomings in implementation have become major barriers for businesses. According to Dau Anh Tuan, the reform determination from the central government is very clear, but implementation at different levels has yet to keep pace. Localities need to use the effectiveness of handling business proposals and recommendations as a measure of performance rather than focusing merely on formal procedures, thereby creating momentum for business investment and development.

For Dong Nai, creating a favorable investment and business environment and enhancing its attractiveness to businesses are key priorities. At the Dong Nai Local Private Economic Forum held on August 7, Standing Member of the Party Committee and Permanent Vice Chairman of the Dong Nai City People's Committee Nguyen Kim Long affirmed that the city would continue administrative reform, remove barriers, and create a favorable environment for businesses. The city's administration will make a stronger shift toward an enabling and service-oriented role, connecting resources and accompanying businesses. Dong Nai will continue to accelerate administrative reform, review procedures, clearly identify focal points, responsibilities, deadlines, and results, and avoid wasting businesses' time and resources.

According to experts, the reduction of administrative procedures and business conditions must avoid a situation in which many business conditions, after being abolished, are simply “transformed” into technical standards and regulations with more complicated requirements, causing businesses' compliance costs to continue increasing.

Vương Thế

Source: Báo Đồng Nai