Vietnam bets on easing of business regulation to boost investments

Hanoi

VIETNAM is betting that the most significant easing of business regulation in 25 years and an accelerated sale of state-owned firms' shares will revive a flagging investment outlook.

The government on July 1 will reduce to six from 51 the number of areas in which firms are prohibited from operating, allowing fireworks manufacture and genetically-modified products, among others. It will also loosen regulations in more than 100 other areas in what will be the biggest overhaul of business rules in the economy since private firms were allowed in Vietnam in 1990.