Representatives from domestic and foreign businesses complained that the Enterprise and Investment Laws that were enacted to slash red tape are causing unnecessary problems to their operations.
Gathering at a symposium in Ha Noi on May 22 to review the first anniversary of the launching of both laws, businesspeople highlighted the granting of investment and business licences, the transfer of capital and changes of ownership as areas that need to be addressed.
The two laws were put on the books in 2005, with a view to easing administrative procedures for both local and foreign firms in the country. Despite the areas of concern, the vast majority of the representatives at the seminar were of the opinion that the government has made great strides over the last year in making administrative systems more transparent and effective, which resulted in a surge in investment and the number of new businesses.
Source: VNA
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