VBF: FIEs seek IRC easement for new locations

March 17, 2023 | 14:59

(0) user say

Foreign-invested enterprises (FIEs) require the authorities to loosen regulations to grant investment registration certificates (IRCs) for their business locations and branches.

VBF: FIEs seek IRC easement for new locations

According to the Vietnam Business Forum's (VBF) Investment and Trade Working Group, FIEs working under an IRC and enterprise registration certificate (ERC) do not currently receive enough proper guidance on how to expand their businesses. The issue was discussed at the Annual Vietnam Business Forum in Hanoi today.

While some cities and provinces permit FIEs to establish branches without requiring them to set up a new venture for each new location, others still require enterprises operating under an IRC to obtain separate certificates for each proposed expansion. The discrepancy in the implementation of these requirements has caused confusion among foreign investors.

Tran Anh Duc, co-head of the Investment and Trade Working Group said, “We believe that new legislation is needed to more clearly regulate this matter, and we suggest that it should give investors the right to amend their investment capital as shown on the issued IRC.”

“Moreover, the application process for an IRC is a time-consuming process, and as investors are required to apply for a new, separate certificate for each new location, it takes a considerable amount of time,” he added.

Investors of Hai Lang power plant urges retaining original schedule

The group of investors of the first phase of the Hai Lang power plant insists to start commercial operations in 2026-2027, instead of 2040 as mentioned in the draft Power Development Plan VIII (PDP8).

All systems go for Vietnam’s essential energy transition

As Vietnam proceeds towards reaching its audacious carbon-neutrality pledge and economic resilience, international organisations are touting commitments to helping shape and influence the country’s legislative agenda and its energy transformation path.

Outstanding business leaders and enterprises shining at Asia Pacific Enterprise Awards 2022 Vietnam Chapter

A total of 88 outstanding business leaders and enterprises were recognised for their commendable dedication towards accelerating Vietnam’s development at the Asia-Pacific Enterprise Awards 2022.

Business environment reform is the most efficient support for enterprises: GSO

In the face of domestic and international economic difficulties, the most effective support for enterprises is to create an equal, open and transparent business environment, according to Do Thi Ngoc, head of the General Statistics Office (GSO)'s Department of General Statistics.

By Kim Oanh

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional