Guidance expected to be introduced by September 15.
The government has asked the Ministry of Planning and Investment (MPI) to work with the Office of the Government before September 15 on improving draft decrees guiding the Law on Enterprises and the Law on Investment.
The two laws came into effect on July 1 but neither have official guidance as yet. Enterprises and investors therefore face a range of difficulties in registering their investment and the issue has attracted lots of concern in recent times.
The Vietnam M&A Forum 2015, held on August 8 in Ho Chi Minh City, heard of problems facing enterprise due to the lack of guidance for the two laws. The absence of detail on legal business conditions was said to be an obstacle slowing down integration into other markets.
Deputy Minister of Planning and Investment Dang Huy Dong said that the draft decrees on the two laws have been submitted to the Prime Minister for approval, but he considered they were in need of improvement. Their absence has not been an obstacle for integration into markets, he added, as everything has been proceeding smoothly.
The new decrees are expected to clarify stipulations on investment in overseas countries, as well as announcements of information by companies in which the State holds 100 per cent and the management of State-owned enterprises that serve national defense and security.
The government has also asked State agencies to review and evaluate the legal business conditions and report to the MPI before December 15.