The launch of an e-Regulations system is viewed by experts and users as aboost to Vietnam's business and investment environment.
TheUnited Nations Conference on Trade and Development (UNCTAD) conceivede-Regulations as a tool to help governments make rules and proceduresfully transparent and facilitate business, trade, and investment.
TheMinistry of Planning and Investment's Foreign Investment Agency (FIA)launched the third phase of the e-Regulations system in June, and it isavailable at vietnam.eRegulations.org in English, Japanese and Chinesewith step-by-step guidelines on investment procedures to help foreigninvestors in Vietnam.
There is a summary of each procedure, withpoints such as institutions involved, expected results, requirements,average duration, and legal justification. At each step investors cansee the contact details of bureaucrats in charge, forms andrequirements, costs, duration, and legal provisions.
FIADirector Do Nhat Hoang said the system would ease difficulties forinvestors, enabling them to navigate Vietnam's investment procedures andprocesses and comfortably do business in the country.
Phan KhacNghiem, a lawyer with Minh Long Law Office, told online newspaper Dautu that the new system would make it convenient for investors,particularly foreign investors, to quickly search for information theyneed.
The e-Regulations does not only provide generalinformation related to the establishment of businesses and amendinginvestment certificates but also give specific information and astep-by-step description of investment processes and procedures in eachparticipating locality, he said.
More specifically, investorscan get information on rules and procedures through detailed, practicaland up-to-date descriptions of the steps to follow at each industrialzone, he said.
Luu Quang Huy, who used to be Vietnam'scommercial counsellor in Japan, told the newspaper that the system,available in various languages, would help investors from differentcountries find information.
Japanese investors, particularlysmall- and medium-sized businesses, prefer to use their own languagebecause many of them are not proficient in English, he said.
Otherexperts praised the system for providing detailed information abouteach official in charge of investment procedures, saying pressure toimprove the business and investment environment would now not only be onthe Government but also on officials.
This pressure is expected to help change the behaviours of officials, they said.
FrankGozel, a senior UNCTAD expert and a consultant for creating thee-Regulations, told the newspaper that the system would provide momentumfor the seven participating localities in improving their businessenvironment.
Investors can use the system to compare and choose the most favourable investment destination, he pointed out.
ClaudeJentgen, Charge d'Affaires at the Luxembourg Embassy in Hanoi, wasquoted by the newspaper as saying that his Government's target insupporting the programme was to speed up the process of making Vietnam'sbusiness environment more open and transparent.
When investorsknow what should be done, who they should work with and where, it wouldbe easier for them to make decisions related to their investment andbusiness plans, he said.
Moreover, when the investment processbecomes more transparent and open, it would help to prevent corruptionand tackle bottlenecks in administrative procedures, he added.
NgoHai Phan, Head of the Ministry of Justice's Department ofAdministrative Procedures Examination, said localities are willing toprovide information for the system as well as receive feedbacks frominvestors.
This means local administrations really want to fixproblems to improve their business environment, he said, adding thatinvestors would surely benefit from this.-VNA
TheUnited Nations Conference on Trade and Development (UNCTAD) conceivede-Regulations as a tool to help governments make rules and proceduresfully transparent and facilitate business, trade, and investment.
TheMinistry of Planning and Investment's Foreign Investment Agency (FIA)launched the third phase of the e-Regulations system in June, and it isavailable at vietnam.eRegulations.org in English, Japanese and Chinesewith step-by-step guidelines on investment procedures to help foreigninvestors in Vietnam.
There is a summary of each procedure, withpoints such as institutions involved, expected results, requirements,average duration, and legal justification. At each step investors cansee the contact details of bureaucrats in charge, forms andrequirements, costs, duration, and legal provisions.
FIADirector Do Nhat Hoang said the system would ease difficulties forinvestors, enabling them to navigate Vietnam's investment procedures andprocesses and comfortably do business in the country.
Phan KhacNghiem, a lawyer with Minh Long Law Office, told online newspaper Dautu that the new system would make it convenient for investors,particularly foreign investors, to quickly search for information theyneed.
The e-Regulations does not only provide generalinformation related to the establishment of businesses and amendinginvestment certificates but also give specific information and astep-by-step description of investment processes and procedures in eachparticipating locality, he said.
More specifically, investorscan get information on rules and procedures through detailed, practicaland up-to-date descriptions of the steps to follow at each industrialzone, he said.
Luu Quang Huy, who used to be Vietnam'scommercial counsellor in Japan, told the newspaper that the system,available in various languages, would help investors from differentcountries find information.
Japanese investors, particularlysmall- and medium-sized businesses, prefer to use their own languagebecause many of them are not proficient in English, he said.
Otherexperts praised the system for providing detailed information abouteach official in charge of investment procedures, saying pressure toimprove the business and investment environment would now not only be onthe Government but also on officials.
This pressure is expected to help change the behaviours of officials, they said.
FrankGozel, a senior UNCTAD expert and a consultant for creating thee-Regulations, told the newspaper that the system would provide momentumfor the seven participating localities in improving their businessenvironment.
Investors can use the system to compare and choose the most favourable investment destination, he pointed out.
ClaudeJentgen, Charge d'Affaires at the Luxembourg Embassy in Hanoi, wasquoted by the newspaper as saying that his Government's target insupporting the programme was to speed up the process of making Vietnam'sbusiness environment more open and transparent.
When investorsknow what should be done, who they should work with and where, it wouldbe easier for them to make decisions related to their investment andbusiness plans, he said.
Moreover, when the investment processbecomes more transparent and open, it would help to prevent corruptionand tackle bottlenecks in administrative procedures, he added.
NgoHai Phan, Head of the Ministry of Justice's Department ofAdministrative Procedures Examination, said localities are willing toprovide information for the system as well as receive feedbacks frominvestors.
This means local administrations really want to fixproblems to improve their business environment, he said, adding thatinvestors would surely benefit from this.-VNA
