Vietnam News, 11 August 2015. Decree to guide enterprise law expected this month.

*** AusCham will be holding a briefing on this subject in both Hanoi and HCMC once there is more certainty. The briefing will be delivered by AusCham’s Vice President, Giles Cooper from Duane Morris. Details to follow. ***

An edited extract of the original article is reproduced below.

HA NOI  (VNS) — A decree to guide implementation of the Enterprise Law is expected to be issued this month, a Ministry of Planning and Investment official said amid complaints from businesses that the law’s implementation is being up held due to lack of clarity.

Tran Thi Hong Minh, director of the ministry’s Agency for Business Registration, said the draft decree was submitted to the National Assembly for approval last May, two months before the law took effect.

“The draft decree has gone through all essential steps, including examination and assessment, and it will be approved and issued this month,” she told Viet Nam News.

While waiting for the circular to be issued to guide the implementation, some businesses have complained about the problems they face.

Le Thanh Kinh, head of Le Nguyen Law Office in HCM City, told Thoi bao Kinh te Sai Gon (Saigon Times) that a number of documents his clients submitted for registering businesses in HCM City and Tien Giang Province have been returned, with officials saying they are waiting for guidance to implement the new law…

The 2014 Enterprise Law, which took effect on July 1 this year, represents a major step forward in liberalising the business environment, giving companies the right “to freely do business in areas not prohibited by law”.

With this being the guiding principle, the law removes the need to specify business activities in the business registration certificate. However, companies need to register their lines of business with competent authorities and make the same available to the National Information Gate of Enterprise Registration.

The law also scraps the need for professional certificates, reduces the time taken to register a business…

 

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