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The Ministry of Finance has proposed continuing the removal of business licenses for 58 sectors and occupations across multiple fields, including judiciary, finance, transport, construction, education, and agriculture. The sectors and occupations are defined under the Investment Law 2025.
Under the current law, 196 sectors and occupations are subject to conditional business requirements, meaning a license is required. This represents a reduction of 38 sectors and occupations compared with the previous framework.
In the draft Resolution, the drafting agency proposes exempting business licenses for accounting services, duty-free goods, reinsurance, insurance brokerage, casinos, and betting.
Within the Ministry of Industry and Trade’s remit, proposed license removals include rice export; manufacture, assembly, and import of automobiles; and activities related to gas, alcohol, and minerals.
Business services such as karaoke and nightclubs are also included. These are services in six sectors and occupations under the management of the Ministry of Culture, Sports and Tourism, which are proposed to be removed from the list of conditional businesses.
The Ministry of Finance said the draft Resolution aims to cut business conditions that are no longer appropriate, overlap with other requirements, or can be shifted to post-audit checks.
In addition to removing licenses, the agency also proposes amending 12 conditional sectors.
The draft Resolution is expected to be submitted to the Government before May 5. If approved, it would take effect from July 1, 2026 to March 1, 2027.
During the implementation period, if there is any discrepancy between the Resolution and related legal texts, the provisions of the Resolution will be prioritized.
The drafting agency stated the reduction is intended to shift strongly from pre-approval to post-approval checks. It is expected to reduce compliance costs for businesses and promote business investment, while improving the investment environment and enhancing the economy’s competitiveness.
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