The Ministry of Finance proposed to abolish 2 conditional business sectors

08:54 | 20/07/2016 Regulations Follow english.haiquanonline.com.vn on

VCN- In response to the Ministry of Planning and Investment on reviewing and proposing amendments and supplements to the list of conditional business sectors under Appendix 4 of the Investment Law 2014, the Ministry of Finance proposed to abolish 2 conditional business sectors.

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the ministry of finance proposed to abolish 2 conditional business sectors

Insurance agent training is not the business conditions for a particular profession.

The first conditional business sector is: "Business sector consulting services of valuation for equitisation” (the 32nd sector of the list). The Finance Ministry said, according to current regulations, in order to offer this service, businesses must meet the conditions stipulated in Decree 59/2011 / ND-CP on transformation of enterprises with 100% State-owned companies into joint-stock companies.

Specifically: Enterprise must be auditing firms, securities firms, companies in the field of business valuation with 5 years of experience or minimum of 3 years in the field of valuation without violating the laws of business for 5 years before the year of registration.

In essence, these conditions are criteria set by the State owner set out to select units to perform valuation services for their property, it is not a condition for State management of a particular business.

This regulation does not set out a new line of business, because businesses conducting valuations are selected from securities companies, businesses in the field of price calculation, auditing firms in the field of price calculation.

The second business sector which is proposed to be abolished by the Ministry of Finance is "Business Services in the field of insurance agent training" (the 30th of the list).

According to the agency, insurance agent training is a kind of activity which is carried out by educational institutions (schools, training centers) to meet the requirements, including: proper training programs; staff of insurance agents with specialized knowledge about insurance, legal and pedagogical skills; with facilities for the training.

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The above requirement is essentially technical regulations as stipulated in Clause 2, Article 3 of the Law on Standards, Technical Regulations, not the business conditions of a particular business.

By Hong Van/ Hoang Anh

Tags:

Vietnam business finance conditional sector investment amendment supplement regulation

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