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. VNA/VNS Photo

The Ministry of Planning and Investment (MPI) has finalised a new draft decree on business registration reforms to make it accord with several newly-issued laws.

MPI Deputy Minister Trần Duy Đông said the original decree dated from 2021, so it needs to be amended to be a good fit with a number of newly promulgated laws. For example, the Law on Credit Institutions has different regulations on business registration for credit institutions; or the Law on Cooperatives regulates business household registration.

The revised decree (No. 01/2021/NĐ-CP) aims to streamline lots of processes, creating maximum favourable 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.

Representatives of the Business Registration Office, under the Hà Nội Department of Planning and Investment, welcomed the draft as it also will mean moving a lot of operations online, currently, most are in paper form.

Meanwhile, representatives of the Ministry of Justice proposed that the drafting committee strengthen post-inspection regulations, make public for comment and further study international experience to make the revised decree simplify procedures and connect with relevant databases to suit the current context. — VNS