Finance sector strives to raise the ranking of the tax and insurance payment index by 30-40 spots

illtration image. Photo: T.Linh

Accordingly, in 2021, the finance sector will have to synchronously and comprehensively implement a series of key administrative reform solutions. They aim to continue to promote the reform of administrative procedures in the tax and customs field and to strongly develop the stock market into an effective investment channel, helping to mobilise capital sources to create resources for economic development and to meet international requirements and standards.

Besides that, continuing to cut and simplify business conditions, support and remove difficulties for businesses; shortening the process for processing, modernising and applying information technology in State management; reduce the time for implementing administrative procedures, ensure publicity, transparency and enhancing the responsibility of State administrative agencies to be suitable with the new production amid industrial revolution 4.0.

In addition, urge and coordinate with ministries to continue to reform comprehensively regulations on the specialised management of exported and imported goods in accordance with international practices.

The action plan sets the target that by the end of 2021, it will upgrade the ranking of the tax and social insurance payment index to ensure the task completion by 2021 which is increased by 30-40 spots compared to 2019. Raising the ranking of the index cross-border trade transactions to ensure the tasks completed by 2021 that will increase by 10-15 compared to 2019. Continue to provide online public services at level 3 and 4, striving to apply 100% for practical public service to the people and continuing research to improve the stock market capitalisation index.

To improve the business environment, enhance national competitiveness and strive to achieve the targets in Resolution No. 02/NQ-CP of the Government, the Action Plan of the Ministry of Finance has set specific groups of tasks to improve the ranking of the tax payment index; raising the ranking of the cross-border trade transaction index; raising the ranking of stock market capitalisation index; development of insurance market, financial market.