Mr. Bui Anh Tuan, Deputy Director of the Business Registration Department, Ministry of Planning and Investment, stated the above at the workshop summarizing one year of implementation of the Enterprise Law and the Investment Law (2014) organized by the Ministry of Planning and Investment on September 20.
Mr. Tuan stated that nearly 178.000 businesses have reported on the number, form, and management of their seals, and the business registration authority has not detected any disputes or fraud cases related to business seals.
"This is a breakthrough in changing management thinking regarding seals in particular and businesses in general. The issue of seals was the most worrying issue when drafting the Enterprise Law," Mr. Tuan said.
The Enterprise Law and the Investment Law have unleashed resources and led to an unprecedented number of newly registered businesses in history.
According to Mr. Tuan, after the Enterprise Law came into effect, the number of businesses registered within a year increased to an "unprecedented level in history". From July 1, 2015 to July 1, 2016 alone, 105.975 new businesses were registered nationwide with a charter capital of 4,6 million billion VND, more than six times the amount registered between July 2014 and July 2015.
"This is unprecedented in history… With the liberation of business freedom, the Enterprise Law has fostered the entrepreneurial spirit, creating a wave of people entering the market," Mr. Tuan affirmed.
The Department of Business Registration stated that the Enterprise Law and the Investment Law have been changing the attitudes and mindset of government agencies at all levels regarding business. The Enterprise Law stipulates that citizens are allowed to conduct business in all fields not prohibited by law, which enhances the autonomy of businesses. The Investment Law also publicly lists prohibited business sectors and those subject to conditions, helping citizens and businesses better access policies and be proactive in business registration.
In particular, the Prime Minister has issued a directive to eliminate unconstitutional and illegal business conditions in decrees and circulars issued by ministries and agencies, aiming to create a favorable environment for businesses and individuals to operate in accordance with the spirit of the Enterprise Law and the Investment Law, which stipulate that ministries and People's Committees at all levels are not allowed to issue business conditions.
According to a report by the Ministry of Planning and Investment, the time taken to receive and process business registration applications and procedures in localities has improved. The average processing time for business establishment applications nationwide is 2,9 days, with Ha Tinh processing applications within one day; Tien Giang 1,3 days; Hau Giang 1,32 days; and Da Nang 2,52 days.
Source: New Newspaper
