Switzerland, Norway and the UN will provide an additional 12.6 million USD to support the second and third phases of the “Technical assistance to business registration reform in Vietnam ” project.

Documents to this effect were signed in Hanoi on Oct. 29 by the Vietnamese Ministry of Planning and Investment (MoPI), the Swiss State Secretariat for Economic Affairs (SECO), the Norwegian Agency for Development Cooperation (NORAD) and the UN Industrial Development Organisation (UNIDO).

Of the funding, SECO will contribute 6.6 million USD, NORAD 4.5 million USD and the balance of 1.5 million USD is shouldered by UNIDO.

Speaking at the signing ceremony, MoPI’s Deputy Minister Nguyen Van Trung said business registration reform helps cut costs and time for completing business registration, tax, statistics and seal procedures.

The Swiss Ambassador to Vietnam , Jean-Hubert Lebet, said the project is expected to assist the private sector improve transparency and facilitate the full implementation of Enterprise Law and corporate governance.

The project was launched in November, 2008 and its first phase was completed in September, 2010. It aims to provide policy and technical advice towards the achievement of nationwide business registration reform. As a result, enterprises will be able to register for business, tax code, statistics and seals through a single point, using a consolidated form and obtain a unique enterprise ID.

National capacities will be developed to simplify the legal framework, processes and procedures and to set up and operate the computerized National Business Registry System (NBRS)./.