EU firms highly appreciate business environment of Vietnam

(MPI) – On October 12th 2017, at the headquarters of the MPI, Deputy Minister had a meeting with the EU-ASEAN Business Council (EU-ABC) led by Mr. Chris Humphrey, Executive Director to discuss some policies in terms of business environment of Vietnam.

Attending the meeting, there were Mr. Gellert Horvath, Vice President of the European Chamber of Commerce (Euro Cham), representatives of the divisions under the Euro Cham, enterprises under the EU-ABC, related units under the MPI. The meeting aimed to discuss the inconsistency in understanding and implementing the legal provisions on the licensing process of provinces and cities; Demand on more transparency and public information; Uniformity between Law on Investment and regulations of specific sectors; PPP in health sector.

Speaking at the meeting, legal group of the Euro Cham highly appreciated the Law on Investment 2014, which creates the most favorable and transparent investment procedures for investors, they recognize the improvement in investment attraction policy of Vietnam. Definition of foreign-invested business organizations having got 51% of charter capital or more is very clearly, useful for us to determine the role and position in the economy.

Regarding the preparation of documents to do investment procedures, the Ministry of Planning and Investment emphasized the Decree No. 111/2011/ND-CP dated on December 5th 2011 raised 4 situations exempted from consular certification and legalization, including: Papers and documents exempted from consular certification and legalization under treaties; Papers and documents delivered directly or via diplomatic channel; Papers and documents exempted from consular certification and legalization under Vietnamese laws; Papers and documents not required of consular certification and legalization by receiving Vietnamese or foreign agencies…

The Government required ministries and agencies to review, remove business and investment conditions. Accordingly, 675 business and investment conditions under the charge and management of the Ministry of Industry and Trade were cut down.

EU firms also highly appreciated the positive movement in publicize registration business information on National Business Registration Portal. It was very hard to access to business information in Vietnam 3 years ago but now they could search legal authenticated information on this Portal. Leader of the Business Registration Agency stated that public information is the top priority, which is most important factor for the investors to believe in investment and business environment, it’s also the most efficient management tool, no better than the management and monitoring of business community to each other. There are 2 levels of information in the National Business Registration Portal: Free information consisting of basic and legal information of businesses, seal template, activity status…; Cost information with a cheap fee of US$ 1 or 2, including analyzed information, history of operation, status of violating the law of businesses…

As for cooperation in health, KPMG representative highly appreciated new policies of Vietnam Government to reform health issues and strengthen public – private partnership (PPP) model. This is a right and active way, they recognize the achievements of Vietnam in health care, universal health for all people. They also proposed to support Vietnam building a handbook to guide investors carrying out PPP health projects, contributing to attract more PPP projects in general and in health sector in particular.

At the meeting, the two sides highly appreciated content of the discussion and confirmed to further promote the meeting and exchanging. EU is an important partner of Vietnam and Vietnam always recognizes and tries to remove all difficulties and obstacles of foreign businesses while investing and doing business in Vietnam./.

According to the FIA’s report, there are more than 2,000 valid projects of EU in Vietnam over 30 years with total registered capital of USD$ 22,053.64 million in processing and manufacturing industry, generation and distribution of power, air, water, real estate business, information and communication, mining, ect.

Nguyen Huong
Ministry of Planning and Investment