Jun. 9 – In an effort to increase transparency and modernize the economy, the Vietnamese government announced plans to reduce 256 administrative procedures on Monday.

The reform is the keystone of Project 30, a sweeping four-year overhaul of government administration that aims to simplify Vietnam’s 24 ministries and 63 provinces.

Included in the reform are 20 tax procedures allowing businesses to use their own invoices printed in accordance with government regulations. Under the new reform, only newly established businesses and small companies are required to use special invoices issued by the finance ministry.

Government officials estimate that if Vietnam can effectively reduce all 256 administrative procedures, the country can save more than US$320 million, not to mention boost the local investment climate.

The first stage of Project 30, successfully completed last year, created a national database of Vietnam’s administrative procedures.