Prime Minister Nguyen Tan Dung has told the Ministry of Planning and Investment to quickly issue documents guiding the implementation of the revised Investment Law that came into force on July 1.

Many people have come to the HCMC Department of Planning and Investment to ask for procedural clarifi cation after the revised investment and enterprise laws take effect on July 1.

The Government leader said the guiding documents should be in compliance with other relevant laws.

He urged the ministry to complete a decree guiding the implementation of the revised law and submit it to the Government for consideration soon.

The law took effect two weeks ago but the absence of guiding documents has made it difficult for competent agencies to consider applications and grant investment certificates to enterprises. 

Tran Thi Binh Minh, deputy director of the HCMC Department of Planning and Investment, told a recent meeting held by the Government Office that the law is liberal but has not produced as good results as expected, especially in 267 conditional business areas.

The revised law does not require the listing of all business areas in the certificate but reality is different. “This is why many companies have yet to submit their applications,” Minh said.

Representatives of other local departments of planning and investment said businesses are confused about a number of regulations in the new law, so they have delayed submitting their registrations.

For instance, some registration procedures for household businesses are not clear and the law does not contain measures to deal with firms having same names.

Minister of Planning and Investment Bui Quang Vinh said the ministry is coordinating with relevant agencies to review and classify business conditions. The ministry has petitioned the Prime Minister to remove all business conditions set in circulars and decisions issued by ministries and local authorities.

There are 6,475 business conditions in 267 conditional business areas in the Investment Law with 3,299 of them in 170 decrees and decisions of ministries. According to the 2014 Investment Law, 3,299 conditions were invalidated on July 1 when the law took effect.

The 2014 Investment Law was passed at the eighth session of the 13th National Assembly (NA) on November 26 last year and came into force on July 1.

To ensure investment activities will be conducted smoothly, the Prime Minister urged the Ministry of Planning and Investment to work out documents guiding the implementation of the law.