Latest push to cut red tape biggest test yet

Resolution No.66.18/2026/NQ-CP, issued on May 18, introduces a significant set of regulatory reforms aimed at administration reducing and simplifying business conditions across multiple sectors.

- By Pham Thi Thanh Lan and Nguyen Thi Thanh Truc

The significance of Resolution 66.18 lies in the removal of specific approval procedures and a regulatory shift towards a framework based on self-compliance, notification, public disclosure, reporting and post-inspection.

These changes are expected to reduce compliance costs, shorten market entry timelines and ease administrative burdens for businesses. However, the simplification of procedures does not mean that all legal obligations have been removed. Businesses should continue to assess applicable requirements and update their internal compliance frameworks accordingly.

Higher notification thresholds for transactions mean many mid-sized deals may no longer require pre-closing approval. The removal of licensing requirements for labour subleasing and employment services is expected to reduce market entry barriers and compliance costs in the staffing sector.

Licensing procedures and business for conditions of alcohol and tobacco activities have also been significantly reduced. Procedures for fire prevention, firefighting, rescue, and salvage have been simplified, especially at the acceptance and restoration stages.

Meanwhile, the removal of certain prior approval and registration requirements for foreign-linked education and training activities is expected to give institutions greater autonomy in implementing international cooperation programmes.

One of the most notable changes under Resolution 66.18 is the doubling of certain notification thresholds for economic concentration transactions compared with the competition law framework in place before July 1.