Firms’ registration to be streamlined

Last month, the prime minister rubber-stamped Ministry of Planning and Investment (MPI)’s the ‘Innovating state management in enterprises post-registration process’ plan, that will change the way the state manages businesses which are going through the registration process.

In accordance of prime ministerial Decision 149/QD-TTg dated April 11, 2012 approving the MPI’s plan, state management agencies must now handle their management tasks and functions, instead of just creating management legal documents.

The change will facilitate business production, ensure social order and security and guide state management agencies in their activities, including inspections and dealing with their own management violations.

The move will also streamline the business registration process and cut lengthy waiting periods.
The approved ‘Innovating state management in enterprises post-registration process’ plan will put an end to businesses’ thoughts that their close personal relationships with someone in the state authorised agencies could help their administration process speed up. 
 
For example, Chinese investors who started a medical equipment import/export company in Ho Chi Minh City spent one month running and trying to get the licence to import medical equipment into Vietnam.

In another example of the inefficient past process, the director of an IT company in Hanoi’s Thang Long-Noi Bai Industrial Park had trouble adding additional software provision services to its core business activities. Because this company is foreign-backed, thus to get the necessary revised investment certificate, the firm must submit a full set of records to the management agencies with forecast data.

Leaders of both firms thought they should have had close relationships with someone in the state authorised agencies so that they could get their licences issued in the shortest period of time.
“The new method of granting licences to businesses which engage in the assistance of relevant state agencies in accordance to the MPI’s approved plan will stop providing a group of state officials with the opportunity to unreasonably interfere in firms’ businesses,” the MPI said.