A number of tough measures would be taken to strictly control the imposition of investment and business conditions by ministries, sectors and local administrations.
This is one of the most significant contents of two draft decrees guiding the 2014 Investment Law and the 2014 Enterprise Law.
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| Enterprises make business registration at the Department of Planning and Investment of Ho Chi Minh City¬__Photo: thesaigontimes.vn |
Under the draft decree guiding the Investment Law, the Ministry of Planning and Investment (MPI) would be the only agency that is competent to table proposals for revising the Investment Law regarding sectors and trades subject to conditional investment to the Government for consideration and submission to the National Assembly for approval.
Other ministries and sectors, of course, may voice their opinions. But they would be required to send their proposals to the MPI, enclosed with documents analyzing the necessity and objectives and assessing the reasonability and feasibility as well as impacts of the revision on state management and investment and business activities of related stakeholders.
Similarly, when recommending the modification or supplementation of existing regulations on investment conditions or imposition of new ones, ministries and sectors would have to explain about the necessity, reasonability and feasibility of their recommendations.
Another matter of concerns is the form of business conditions. Reality show business conditions imposed by ministries, sectors and local authorities may take various forms. Therefore, to prevent ministries and localities from bending the law, the draft decree specifies that all types of license, certificate of eligibility, practice certificate, professional liability insurance certificate, written certification, etc., as well as requirements, criteria and conditions which do not require written certification or approval but must be satisfied by investors would be considered business conditions.
In addition to the aforesaid regulations, under the draft decree guiding the Enterprise Law, all business conditions already set under circulars, joint circulars, decisions and other legal documents of ministries, ministerial-level agencies and People’s Committees at all levels would be removed as from July 1, 2015, the effective date of the 2014 Enterprise Law.-
