To implement the Government's Resolution 68/NQ-CP on the program to reduce and simplify regulations related to business activities in the period of 2020 – 2025, on October 18, 2023, the Prime Minister issued Decision No. 1205/QD-TTg approving the plan to reduce and simplify regulations related to business activities within the scope of management functions of the State Bank Vietnam ("Decision 1205").
Accordingly, in 2023, the State Bank of Vietnam ("SBV") will amend documents to minimize the composition of documents and simplify administrative procedures ("TTHC") related to the banking information technology business lines, specifically as follows:
1. Shorten the time for settling administrative procedures
Accordingly, the time for carrying out administrative procedures in several issues related to digital certificates is shortened to ensure the urgency and timeliness in providing digital signature certification services of the SBV to agencies, organizations, and individuals, including:
- Procedures for issuance and supplementation of digital certificates/renewal, change of information contents/change of key pairs/codes for activation of digital certificates: from 05 working days to 03 working days;
- Procedures for suspension/restoration of digital certificates: from 03 working days to 01 working day;
2. Promote the exploitation of digital resources on the SBV's Public Service Portal system
Based on the reuse of digitized TTHC settlement results on the SBV's Public Service Portal system to help cut printing costs, save time, and facilitate the implementation subjects, some of the following dossier components will be reduced shortly, including:
- For procedures for issuance of bank codes: copies of establishment and operation licenses of credit institutions and branches of foreign banks; a copy of the license for establishment of a dependent unit of the credit institution; A copy of the establishment and other activity license.
- For procedures for cancellation of bank code: a copy of the merger or consolidation decision of the unit to cancel the bank code; a copy of the decision to terminate the operation of the unit to cancel the bank code; a copy of the decision on the dissolution, bankruptcy or termination of operation of the unit to be canceled bank code.
- For procedures for adjustment of bank information: a copy of the SBV's written approval for credit institutions and branches of foreign banks when requesting adjustment of bank information.
In addition, Decision 1205 also stipulates reducing the frequency of sending reports every 6 months to every 1 year. The reason is that the reporting period every 6 months is short because digital certificates issued to subjects have not changed much during this period.
Decision 1205 is effective as of October 18, 2023. The schedule for the implementation of the above-mentioned procedures will be conducted between October 2023 and December 2023./.
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