The Ministry of Industry and Trade will consider eliminating more administrative procedures as gratuitous paperwork has slowed business growth, said a deputy minister at a conference in Hanoi Tuesday.

The IEF is a series of 10 economic measurements created by the Heritage Foundation and Wall Street Journal.

Out of the 121 countries considered conducive to good business, Vietnam ranked among the bottom ten, Doan said.

A representative from the Central Institute for Economic Management told the conference that administrative procedures were “stunting the growth” of private Vietnamese businesses.

Some 5,700 administrative procedures in Vietnam generate 85,000 forms governed by 7,870 documents, according to figures compiled by Project 30, a government initiative to simplify administrative procedures between 2007-2010.

Nguyen Thanh Bien, deputy minister of Industry and Trade, said the ministry had already eliminated many procedures and would consider getting rid of more and simplifying others.

Bien said the ministry sought especially to curb procedures related to exports, imports and taxation.

Ideas from the conference will be submitted to the Prime Minister for consideration, according to organizers at the Vietnam Young Business Association.

Source: Thanh Nien, Tuoi Tre