On April 9, 2021, Mr. Nguyen Hung Quang delivered his presentation on improving the effectiveness of legal compliance cost control in Viet Nam at the workshop by the British Embassy, UNDP Viet Nam and Ministry of Justice. It was subject to UNDP Regional Project “Promoting a Fair Business Environment in ASEAN” funded by UK Prosperity Fund. Two major contents were addressed including (i) Assessment of the success in legal compliance cost control in Viet Nam; and (ii) Proposals to improve effectiveness of legal compliance cost control in Viet Nam.
The presentation also recommended some core issues to improve the quality of legal compliance cost control in Viet Nam. According to Mr. Nguyen Hung Quang, it is now appropriate for Viet Nam to apply a quantitative mechanism to reduce compliance cost for monitoring and evaluating policy and legal provision formulation and drafting, namely One-for-One Rule (Canada) or One-for-Two Rule (USA) or 30% Rule (Viet Nam in 2007-2010 period). Competent agencies also need to accelerate the current legal cost control in Viet Nam.
Controlling legal compliance cost will make Viet Nam’s business environment more competitive and reduce legal regulations’ pressure on people’s lives.