HM&P participates in policy discussions with the Ministry of Planning and Investment

On August 15, 2024, representatives from HM&P Law Firm ("HM&P"), led by Managing Partner Nguyen Van Phuc, participated in a technical meeting with the Ministry of Planning and Investment, alongside representatives from the Investment and Trade Working Group of the Vietnam Business Forum (“VBF”). The meeting focused on discussing outstanding issues related to the amendment and supplementation of Decree 01/2021/ND-CP on business registration.

The technical meeting between VBF and the Ministry of Planning and Investment marked a significant step in the policy development and refinement process. It provided an important opportunity for regulatory agencies to hear practical feedback from businesses and experts, thereby helping to improve legal regulations in a way that better supports the business environment.

At the meeting, Lawyer Nguyen Van Phuc—drawing on his extensive experience in trade and investment law, particularly in providing legal advice on business registration for both domestic and foreign-invested enterprises—offered critical insights. He shared the practical difficulties that businesses face in complying with Decree 01/2021, from handling business registration files to the lack of consistency in the requirements from different registration authorities.

Specifically, Mr. Phuc presented a position paper highlighting areas in the decree that require adjustment. He emphasized issues such as unclear requirements for documentation, differing interpretations among business registration authorities on the completion of transactions, and unreasonable demands for authorization documents during the filing process. These suggestions were made to alleviate administrative burdens and create more favorable conditions for businesses during the registration process.

Following the discussions from HM&P and other VBF delegates, representatives from the Ministry of Planning and Investment responded to the challenges businesses are encountering. They also shared the difficulties that regulatory bodies face in implementing business registration regulations. The discussion was open and detailed, with a high level of consensus reached on the need to create a more open, flexible, and business-friendly legal framework.

The Ministry of Planning and Investment’s key message to the business community was its commitment to creating a streamlined legal environment, reducing administrative procedures, and thereby promoting business and investment growth.

HM&P, along with VBF, is confident that with the openness and willingness to listen to input from the business community and leading experts, the amended Decree 01/2021/ND-CP will become a highly practical legal document, maximizing support for businesses in their operations.

The discussions at the meeting will contribute significantly to the creation of sound policy and, at the same time, an ideal business environment for both domestic and foreign investors, thereby promoting sustainable economic growth and building investor confidence in Vietnam's legal policies.