HCMC – The Ministry of Finance has proposed removing business licensing requirements for nearly 60 sectors, including casinos, karaoke services and rice exports, as part of efforts to ease market entry and shift toward post-licensing oversight.
The proposal is included in a draft Government resolution now open for public comment. It targets 58 conditional business lines across sectors such as finance, justice, construction, education, transport and agriculture, which are currently regulated under the Law on Investment.
Sectors under consideration for license removal include accounting services, duty-free retail, reinsurance, insurance brokerage, casinos and betting activities.
Other areas listed in the draft include rice exports; automobile manufacturing, assembly and imports; as well as trading in alcohol, gas and minerals. Drug rehabilitation services are also part of the proposed changes.
The draft further suggests eliminating licensing requirements for karaoke and nightclub services, which are managed by the Ministry of Culture, Sports and Tourism.
The Ministry of Finance said the move aims to remove outdated or overlapping business conditions and transition to a post-audit regulatory model.
In addition to the proposed removals, the draft outlines adjustments to regulations governing 12 other conditional business sectors.
The resolution is expected to be submitted to the Government before May 5. If approved, it would take effect from July 1, 2026, through March 1, 2027.
Authorities said the policy direction is to shift from pre-approval controls to post-inspection, reducing compliance costs for businesses and improving the investment climate.
During the implementation period, if discrepancies arise between this resolution and other legal documents, the resolution would take precedence.
The Government has previously issued eight resolutions aimed at cutting and simplifying administrative procedures and business conditions. These efforts have removed 890 business requirements and simplified four others, helping reduce processing time and compliance costs by more than 50% compared to 2024 levels.
