Policy on business registration to be revised

People complete procedures for establishing a business at the Hà Nội Department of Planning and Investment’s Business Registration Office.

The updated decree (No. 01/2021/NĐ-CP) attempts to defend the company’s rights and interests while streamlining numerous procedures, maximizing favorable conditions for businesses, and honoring their autonomy.

HÀ NỘI – To bring the new draft decree on business registration reforms into compliance with multiple recently passed legislation, the Ministry of Planning and Investment (MPI) has completed it.
According to MPI Deputy Minister Trần Duy Đông, the original 2021 order needs to be changed to better align with several recently enacted laws. For instance, distinct rules apply to business registration for credit institutions under the Law on Credit Institutions, while business household registration is governed by the Law on Cooperatives.
The revised decree (No. 01/2021/NĐ-CP) aims to streamline lots of processes, creating maximum favorable conditions for enterprises, respecting the autonomy of enterprises, and protecting the legitimate rights and interests of the company, members, and shareholders, while still ensuring State management in business registration, Đông said.
The Business Registration Office representatives, who are part of the Hà Nội Department of Planning and Investment, applauded the proposal since it will bring many of their processes online. Currently, the majority of their operations are done on paper.
Ministry of Justice representatives suggested that to make the revised decree more user-friendly and contextually appropriate, the drafting committee should consider bolstering post-inspection regulations, soliciting public feedback, and researching international best practices – VNS.

Original article: Việt Nam News

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