Before September 15, there will be a decree guiding the Enterprise Law and Investment Law.

The Government requested the Ministry of Planning and Investment to study, revise and complete the draft Decree guiding the implementation of the Enterprise Law and the Investment Law, and coordinate with the Government Office to complete procedures for the Government to promulgate before September 15, 2015.

The Government has just issued a Resolution on implementing the Law on Enterprises and the Law on Investment.

The Enterprise Law and Investment Law have been in effect since July 1, but there are no official guiding documents yet, which has caused many difficulties for business registration and investment registration activities of both enterprises and implementing agencies, although the Ministry of Planning and Investment has issued temporary guidance. This is an issue that the business community has been very concerned about recently.

Business registration under the Enterprise Law 2014 in Ho Chi Minh City

At the Vietnam M&A Forum 2015 held in Ho Chi Minh City on August 6, the lack of specific guidance or public disclosure of conditional business lines was raised by the business community as an obstacle slowing down the market participation process of businesses and investors.

Regarding this issue, Mr. Dang Huy Dong, Deputy Minister of Planning and Investment, said that two draft Decrees have been submitted to the Prime Minister, and are likely to be issued in September. However, according to Mr. Dong, the lack of these two decrees does not hinder investors from entering the investment and business market; in fact, everything is still going smoothly.

These Decrees will detail and guide the implementation of a number of articles of the Investment Law; Decree on foreign investment; Decree on detailing and guiding the implementation of a number of articles of the Enterprise Law; Decree on business registration; Decree on information disclosure of LLCs in which the State holds 100% of the charter capital; Decree on the organization, management and operation of SOEs directly serving national defense, security or the economy combined with national defense, security...

Also in the Government's resolution, the Government requested ministries and agencies to regularly review and evaluate legal regulations on investment and business conditions, report and propose amendments and supplements in the spirit of strongly improving the business environment and enhancing national competitiveness. Ministries and agencies shall submit reports to the Ministry of Planning and Investment before December 15, 2015 for synthesis and reporting to the Prime Minister.

Detailed contents of Government requirements are posted on the Government's electronic information portal and national legal document database.

According to TBKTSG