How does the reform of the model of food quality control and food safety control affect the economy?

How does the reform of the model of food quality control and food safety control affect the economy?

The Ministry of Finance has just submitted to the Prime Minister the approval of the Project on Reforming the Model of Quality Inspection and Food Safety Inspection of Imported Goods. According to the Ministry of Finance, this scheme will have a positive impact on the economy.

Helps reduce the number of consignments that need to be inspected, leading to reduced trade costs by reducing inventory and capital requirements allowing for more efficient business production.
Encouraging growth especially for manufacturers and distributors, boosting exports and increasing final output, providing more efficient opportunities for the economy.
The value of savings for the economy when applying the new model is 9285 billion dong (approximately $ 399 million) per year, according to estimates of the Trade Facilitation Project funded by USAID, calculated based on on the data in the World Bank (WB) business environment report.
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Cre: tapchitaichinh.vn