The Ministry of Planning and Investment and the United Nations Conference on Trade & Development (UNCTAD) officially launched a website to assist investors with Vietnamese business regulations at a meeting in Ha Noi yesterday.
The pilot project was designed to outline Vietnamese investment procedures in a clear and helpful manner, said Phan Huu Thang, director of the Ministry of Planning and Investment’s Foreign Investment Agency.
The procedures for setting up a local company, leasing land and signing a business co-operation contract were now available free on-line for first-time and existing investors, he said.
The website takes investors through the steps they must follow when establishing a company. It names the authorities involved and the officers in charge. It also tells investors what forms must be submitted, the costs involved and how long the process should take. It also outlines the complaints’ procedure.
All necessary paperwork can be download from the website:
Thang said the scheme would be extended to investors in HCM City and da Nang.
The agency would continue to administer the website in the short-term, after which it would be transferred to the Ha Noi People’s Committee to manage, he said.
Thang added that the project was still in its infancy and that the agency would strive to iron out any shortcomings. However, he said that the website should make registering a company easier and less time-consuming.
At the meeting, Supachai Panitchpakdi, secretary general of UNCTAD, said the Vietnamese government needed to simplify existing investment procedures to boost growth, in addition to raising domestic skill levels to meet market demands.
The secretary general added that the Government should concentrate not just on attracting foreign investment but also in disbursing capital efficiently in order to generate jobs and promote competition. — VNS