Business Registration Reform in Viet Nam

Business Registration Reform in Viet Nam

Technical Assistance to Business Registration Reform in Viet Nam

Project Description

The project aims to provide policy and technical advice towards the achievement of nationwide business registration reform. As a result, enterprises will be able to register for business, tax code, statistics and seals through a single-point, using a consolidated form and obtain a unique enterprise ID. National capacities will be developed to simplify the legal framework, processes and procedures and to set up and operate the computerized National Business Registry System (NBRS). The project will contribute to achievement of Outcome 1 (Output 1.12.5) of One UN Plan.

Project Beneficiaries

The primary beneficiaries of the project will be the enterprises and those who plan to start businesses. Registering an enterprise, obtaining a tax code, a statistics code and applying for a seal permit will be greatly simplified as a result of the project. Single-point registration will be carried out by use of a consolidated application form as well as by electronic means. Enterprises will have to submit information merely to one cooperating institution, with subsequent completion of business registration, registration with the GDT and the obtaining of taxpayer code, registration of the seal engraving permit and notification of GSO on enterprise registration without additional effort.

Additional Benefits

Furthermore, registered business information will have the legal validity of original files and business register information will be regarded as the definite and final verification of the legal status of an enterprise. As a result of having in place the consolidated database of the National Business Registration System (NBRS), enterprises will be able obtain information about their business partners with great ease and at least cost in their localities.