According to international consultant Karen Hill, former Head of the UK office of the Prime Minister’s Regulatory Reform Department, regulations may have both positive and negative effects with the latter being the restriction of the economy’s competitiveness and growth, and increased unemployment.

The UK Government has focused on regulatory reform over the past 30 years, considering it a primary task, she stressed.

She expressed her surprise at the results of the administrative reform scheme that Vietnam has achieved in a relatively short period of time.

The country’s national database system of administrative procedures and its target to cut administrative expenses by 30 percent are impressive, she said, noting that European nations have only begun the process of slashing such expenses by 25 percent.

She suggested that Vietnam improve its institutional system, simplify regulations, monitor and assess the impact of such changes on people and businesses.

According to Minister-Director of the Governmental Office Nguyen Xuan Phuc, in the second half of this year, 24 ministries and branches and 63 provinces and cities will review more than 5,500 administrative procedures to reduce administrative costs by at least 30 percent, thus saving VND30 trillion for people and businesses each year.