Investment application is expected to be reduced

Under Resolution No. 59 / NQ-CP dated 07 Aug 2015 of the Government on the implementation of the Enterprise Law and the Investment Law, Decree detailing and guiding the implementation of these Laws will be issued by 15 Sep 2015. In addition, the amendment and supplementation of regulations on the import of used machines, equipment, technological lines towards enhancing the transparency and stability of the investment environment will be completed in 2015.

In particular, the Government assigned the Ministry of Planning and Investment to review and propose  repealling or modifying the provisions on investment and business conditions, including the abolition of unnecessary and unreasonable investment and business conditions, which create the burden of ciost and time on investors; minimize the forms of Investment License application, endorsed or approved by the authorities and change into the form of setting up standards and conditions for investors to perform self-registration and management authorities will perform post audits …

List of investment conditions applicable to foreign investors will be completed in Aug 2015 and is posted on the National Portal of foreign investment and National business registration Portal. For industries whose regulations on investment and business conditions haven’t been issued yet, the Ministries and related agencies have to issue written legal provisions on investment and business conditions for these industries in Dec 2015.

Source: LuatVietnam