We glad to inform you about a key development in the ASEAN Regulatory Reform Programme, which is delivered by Regulatory Delivery International (RDI) BEIS, as a work strand of the wider PF ASEAN Economic Reform Programme.
One of the challenges to help Vietnam strengthen its business environment is how to tackle the red tape issue. Resolution 68, which has recently been approved by Prime Minister would help to untie that knot. In order to gain a comprehensive view, international regulatory reform best practices have been referred to, including UK’s successful Administrative Burdens Reduction Programme (2005–2010) model.
- During 2020-2025, 20% is the commitment Vietnam government has set to each strand: streamline and simplify regulations; and costs of complying with regulations related to business activities
- Its comprehensive scope of application aims to reduce the cost of regulation for businesses, freeing up business resources and boosting productivity and growth.
Beside the undeniable influence on the country’s regulatory improvement, the Resolution will indirectly support the realisation of secondary benefits as well as tackle market access challenges for UK businesses.
We hope you find the information helpful.