Vietnam’s capital, Hanoi, has implemented a plan to reduce the time needed to obtain a Business Registration Certificate to within three days of receiving the application, instead of the previous 10 days. Although this change will only initially apply to Vietnamese enterprises, the definition of Vietnamese enterprises was changed recently to allow them to have foreign ownership. Hanoi is the first city in the country to implement this program.
The change in registration time is part of the new regulations laid out in the new Law on Enterprises 2014, which will go into full effect on July 1. Hanoi has taken the bold choice of implementing the changes earlier in hopes of boosting its attractiveness to investors. In July, the rest of the country will have to follow suit and shorten their registration times.
This has been excerpted from the 20 January 2015 issue of Vietnam Briefing and is available in its entirety at:
http://www.vietnam-briefing.com/news/hanoi-reduces-business-registration-time-city.html/