Submitted to the government by the Ministry of Labour, Invalids and Social Affairs (MoLISA), the draft decree allows businesses, including foreign-invested enterprises, to provide employment services once they have fulfilled certain criteria.

The criteria include depositing a security of VND300 million at a bank, owning office premises and employing at least five college or university graduates.

In addition to the licenses issued by the Planning and Investment Service, these businesses are required to apply for licenses issued by local departments of Labour, Invalids and Social Affairs.

Deputy Head of the Employment Department of the MoLISA Nguyen Hai Van said the revised decree aims to remove obstacles for businesses in registering to provide employment services to meet requirements of an open-door economy and improve the business environment.

He added that since the government decree on employment was implemented in 2005, only 70 businesses have been licensed for operation in this area among 4,000 businesses applying for licenses.