PM Nguyen Xuan Phuc on April 25 in Hanoi presided over the first meeting with ministerial and sectorial leaders seeking to remove obstacles arising in the enforcement of the Laws on Enterprises and Investment.

PM Nguyen Xuan Phuc speaking at a meeting with ministerial and sectorial leaders seeking to remove obstacles arising in the enforcement of the Laws on Enterprises and Investment on April 25 in Hanoi

Under the new laws, the time required for fresh business registration has been slashed to 2.9 days while time required for adjustment of business license took 2.7 days. Hence, enterprises saved half a million days.

The robust reformo of the two laws was welcomed by international organizations, especially the Word Bank. The 2015 Provincial Competitiveness Index also recognized record progress of business registration over the last 11 years.

“The outcomes showed that the business environment improved right after the Law on Enterprises and the Law on Investment took effect,” said Minister Dung.  

However, arising problems still lie ahead during the implementation of the two laws, he added.

The MoPI pointed out the Top 3 problems including (i) the differences and inappropriate regulations between the Law on Investment, Decree 118/2015/ND-CP and related laws and documents on investment procedures; (ii) difficulties in collecting, reviewing and reforming investment conditions in accordance with the Law on Investment; and obstacles in conducting investment and business registration.

Simplifying procedures but preventing legal loopholes

PM Phuc highlighted the reform spirit that creates favorable ways for business and production; boost production; support and protect business rights.

There is no longer licenses that used to be required as supplementary ones and obstacles for business operation, he stressed.  

The Government leader underlined the necessity to enforce the two laws with the Government’s Resolution 19/NQ-CP, dated March 12, 2015 on key duties and solutions to improve the business environment and national competitiveness in 2015-2016.

PM Phuc also mentioned to uphold the role of the Task Force on Implementation of the Enterprise Law and Investment Law.

Public servants need to well perform their duty of serving  citizens and enterprises, the Government leader said.

He also agreed to issue shortcut guiding documents on the implementation of the two laws before July 1, 2016 and assigned the MoPI to work with the Office of the Government and relevant ministries and agencies to implement the new regulations.

VGP