Vietnam’s legislative body, the National Assembly Standing Committee, is evaluating a new draft law that seeks to streamline administrative procedures and business regulations specifically within the agriculture and environment sectors. This proposed legislation aims to overhaul 10 existing laws, which encompass a wide range of areas, including plant protection, animal husbandry, fisheries, irrigation, water resources, veterinary services, and crop production.
The draft law suggests the removal of 38 administrative procedures along with 40 business conditions while simplifying an additional 13 procedures. Such reforms are anticipated to significantly decrease processing times, cutting them down by a total of 904 days. Furthermore, businesses are expected to benefit from a reduction in compliance costs, estimated at approximately VNĐ189.9 billion, which equates to around US$7.3 million.
Throughout the review process, lawmakers have stressed the importance of maintaining robust regulatory oversight, even as the bill proposes greater decentralization. A key component of the draft involves encouraging the adoption of digital tools, such as QR codes and product traceability systems, to enhance the efficiency of inspections and ensure the quality of products.
The legislative committee is working towards finalizing the draft by July 25. Once completed, the reforms could provide a more efficient regulatory environment, potentially boosting productivity and profitability within Vietnam’s crucial agriculture and environmental sectors. The combination of streamlined procedures and modern technology aims to create a more dynamic and responsive framework for businesses operating in these fields.