Business Registration Reform
The National business registration reform has been facilitating the innovation of administrative procedures to create a favorable condition for the enterprise’s market-entry as well as the governmental macro management.
Improving the legal framework for business registration
Establishing the national registration business system all over the country
Setting up the vertical management mechanism of business registration from central to local level.
Helping develop a transparent business environment in Vietnam by providing legally valid information of enterprises to state administration bodies and social community.
MILESTONES OF BUSINESS REGISTRATION REFORM
27/02/2007: Inter-ministerial Circular No. 02/2007/BKH-BTC-BCA founding the cooperation mechanism amongst business registration authorities, tax authorities and public security authorities in enterprise registration.
29/7/2008: Inter-ministerial Circular No. 05/2008/BKH-BTC-BCA founding the mechanism of exchanging information between business registration authorities and tax authorities.
30/11/2007: Resolution No. 59/2007/NQ-CP setting up the legal basis for National Program of Business Registration Reform.
08/11/2008: The signing ceremony of Project Documents of Project “Technical Assistance to business registration reform in Vietnam” between the Ministry of Planning and Investment (MPI), the United Nations Industrial Development Organization (UNIDO) and the Norwegian Agency for Development Cooperation (NORAD).
15/04/2010: Decree No. 43/2010/ND-CP on enterprise registration.
26/5/2010:Hai Duong became the first province processing on NBRS in the country.
04/6/2010: Circular No. 14/2010/TT-BKH guiding a number of provisions of Decree No. 43/2010/ND-CP.
01/9/2010: General Department of Taxation (GDT) issued the Procedures for exchanging business registration information between Tax authorities and business registration authorities.
09/9/2010: The establishment of Agency for Business Registration (ABR).
28/10/2010: The signing ceremony of adjusted documents of Project “Technical Assistance to business registration reform in Vietnam” with the presence of State Secretariat for Economic Affairs of Swiss Government (SECO).
31/12/2010: NBRS was officially implemented nationwide.
24/10/2011: NBRS was upgraded to Version 1.6 and has been operating stably.
In regards to legislation:
Legislating business registration reforms.
Consolidating business registration and tax registration procedures into “enterprise registration procedure.
Setting up the legal principle which acknowledges information stored in business registration system as the original and legally valid one.
Establishing legal framework for applying electronic signatures in online enterprise registration and storing financial information of enterprises.
Create the legal basis to resolve existed problems: preventing enterprise‘s name duplication nationwide; criteria for using the words “group”, “corporation” in naming enterprises, etc.
In regards to state administration
Improving institutional and organizational capacity of business registration bodies at central and local level to establish and operate NBRS. On 09/9/2010, the Prime Minister issued Decision No. 1659/QD-TTg on the establishment of Agency for Business Registration under the MPI as the focal point at central level of state administration in business registration.
Establishing the mechanism of efficiently cooperating and exchanging information between business registration authorities and tax authorities by the use of the unique registration dossier and enterprise code.
Improving the efficiency of state administration in the establishment and development of enterprises by providing publicly accessible and transparent enterprise registration information.
In regards to professional business registration
Establishing the national enterprise registration database which comprises fully and uniformly information from enterprises database in 63 provinces, cities.
Standardizing and unifying the business registration procedures nationwide by using NBRS.
Applying thoroughly the information technology in processing business registration in order to improve the working capacity, reduce expenses and time for completing all enterprise registration procedures.
Automating some procedures to maximally reduce business registration staff’s manual process, thus help enhance the transparency of business registration.
Improving the security of enterprise registration information since information on NBRS is original and most legally valid and only accessed by specific business registration staff.
In regards to the development of enterprises and improvement of business environment
The number of enterprises increased significantly, from 14.441 in 2000 to 89.187 in 2010. According to statistics number provided by ABR, the total number of enterprises registered in Vietnam until 1999 was 39,915 – approximately out of 45% the number of newly registered enterprises in 2010.
In comparison with 2009, the rank of Vietnam’s business environment in 2010 increased by 10 levels in the Doing Business report released by the World Bank (WB), ranking 78 out of 183 countries. Also according to the evaluation of this organization, in 2011, Vietnam is ranked the 4th out of the 10 most reformed economies in terms of ease of doing business, above China 01 level. It was the business registration reform that helped Vietnam climb 14 levels in the ranking of ease of business start-up procedures.
Creating the transparent business environment in Vietnam by provide publicly accessible information of enterprises to all individuals and organizations in need.
FACTORS LEADING TO SUCCESS
The sound orientation and determination of Vietnam’s government in the reforms of administrative procedures, especially the ones to improve business environment in Vietnam.
The agreement and close cooperation among relevant ministries, branches in general, and the efficient cooperation between the MPI and GDT in particular, to exchange information and issue the unique enterprise code.
The active contribution and cooperation of international organizations in business registration reform in Vietnam.
The non-stop development of the market economy is the indispensable driving force of main reform in business registration.
IMPLEMENTATION ORIENTATIONS IN THE NEXT PHASES
Improving the quality of state administration of enterprises after establishment registration by enhancing the cooperation and exchanging information among relevant state bodies. đổi thông tin giữa các cơ quan nhà nước liên quan.
Further completing the business registration policy mechanism, unifying enterprise registration procedures for all types of enterprises operating in all economic sectors, regardless of domestic or foreign.
Enhancing the transparency of business environment by publicizing and socializing legally valid information of enterprise registration.
Improving NBRS capacity, applying thoroughly information technology in enterprise registration professional tasks, creating a favorable condition for community to access enterprise information and utilize the business registration web services.
SPONSORS AND IMPLEMENTERS
Agency for business registration (ABR) – Ministry of Planning and Investment
Norwegian Agency for Development of Cooperation (NORAD)
Swiss State Secretariat for Economic Affairs (SECO)
United Nations Industrial Development Organization (UNIDO)
LHD LAW FIRM IN HO CHI MINH
Business Registration Reform
- FOREIGN INVESTORS PURCHASE SHAREHOLDING IN VIETNAMESE COMPANIES
- REGISTER COMPANY IN VIETNAM FOR FOREIGNERS
- Apply for business loan in Vietnam
- WANT TO REGISTERS NEW COMPANY SETUP FOR VIETNAM
- HOW TO REGISTER COMPANY IN VIETNAM AS A FOREIGNERS