As many as 10,869 businesses have been set up in the first two months of 2014 with a total registered capital of 62,902 billion VND, up 13.1% in terms of the number and up 28.4% in terms of capital compared to the same period in 2013.

These new registered businesses intend to hire 102,419 laborers, up 16.4%, according to the Government Portal.

Over the past two months, the North and the Central Highlands witnessed an increase in the number of newly-established- enterprises with 416 and 754, up 20.9% and 177.2%, respectively.

These enterprises mainly operate in the fields of electricity, gas and water production and distribution (up 59.6%), agriculture-aquaculture-forestry (up 41.9%), logistics (up 28.4%) and information and communications (up 26.2%).

Businesses resuming operation are estimated to number 3,640 in two months, focusing on two crucial economic areas including the Southern East and the Red River Delta.

Vietnam is currently on course to amend the Law on Enterprises in a bid to remove the bottlenecks for businesses, especially the registration of business lines.

Under a draft version, ministries, ministerial-level agencies, provincial People’s Councils and Committees are not allowed to issue regulations on business lines that are prohibited or conditional as well as regulations on business conditions.

Enterprises may not have to register business lines, according to the amendments.

Many experts and business leaders said the new provision on business registration is a strategic breakthrough in facilitating the start-up and operation of enterprises.

The current Law on Enterprises only allows enterprises to operate in areas that are not restricted by law but the notion “law” is so immense. It means that enterprises have to overcome a burden of administrative procedures.

On the other hands, the current law stipulates that enterprises have to operate in accordance with the business lines that they have registered.

Under the amended version, the right to issue regulations on business prohibition and conditional business belongs to the National Assembly, the its Standing Committee, and the Government. No other agencies have such right.

Enterprises can expand business lines and they only need to report their changes to the business registration agency.-VNA