The government held a national policy coordination meeting presided by Prime Minister on March 27 and announced the introduction of regulation moratorium, which suspends regulations or imposes relaxed regulations. And on May 27, the government held a joint meeting with the Regulatory Reform Committee and Ministers to finalize and announce the regulations subject to reforming such as temporary regulation moratorium, etc.

 The Ministry of Land, Transport and Maritime Affairs said that it will overhaul all the regulations which hamper economic activities and reform 110 regulations. 67 reformed regulations will take effect by July 1, 2009.

 In addition to the above regulatory reform, the Ministry discovered 197 regulations, which need to be reformed, in the beginning of this year and have reformed and enforced 55 regulations as of May, which will actually help facilitate economic activities.

 Looking at 110 regulatory reforms by content, 48 regulatory reforms are to eliminate difficulties of investment and business start-up; 55 to reduce the cost of business activities; and 7 to remove difficulties for SMEs and low-income people. By period, 58 regulatory reforms are subject to temporary regulation moratorium, and 52 to sustained regulatory improvement.

 The Ministry of Land, Transport and Maritime Affairs plans to reform 67 regulations, which will take effect from July 1, 2009 by revising related laws, and to cooperate with relevant Ministries to complete the remaining 43 regulatory reforms earlier than scheduled.

 On top of that, the Ministry announced its plan to continuously review proposed civil petitions and suggestions in respect of regulation in addition to the 110 regulations under reform progress.