Government's strong efforts to improve business environment

1. Government's Strong Efforts to Improve Business Environment
Oliver Massmann
On March 12, 2015, the Government has just issued the new Resolution 19/NQ-CP/2015 on key
duties and solutions to improve business environment and national competitiveness in 2015 –
2016 (“Resolution 19”).
Resolution 19 provides several measures / objectives including decreasing administration
procedure time (tax declaration, custom / port clearance, social insurance declaration,
establishment of new companies, bankruptcy, etc.), removing some procedures, conditions such
as legal / criminal records of foreign investors acquiring shares / equity in Vietnam, revising
regulations / law to promote the business, procuring relevant State authorities to act and prepare
action plans to do before 30 April 2015, report to the Government on a quarterly basis, etc.
The new Resolution also lays out strong commitments and positive changes to be made by
Government bodies, which are expected to have the business environment targets of Vietnam
reaching ASEAN-6 and ASEAN-4 averages in 2015 and 2016 respectively.
The new Resolution prioritizes the following:
1. In 2015, approaching and exceeding ASEAN-6 averages, notable targets are:
 Lower tax payment period to 121.5 hours/year as maximum, develop and disclose the
database on tax refund;
 Rapidly decrease processing time for clearance of exports and imports of goods to 13 and
14 days respectively;
 Processing time for business establishment procedures is 6 days as maximum;
 Processing time for bankruptcy procedures is decreased from 60 months to no more than
30 months
2. In 2016, Vietnamese business environment index to approach ASEAN-4 averages on
certain areas, notable areas are:
 Business establishment and investor protection to be in Top 60 and 50 countries
respectively, processing time for tax payment and compulsory insurance is 168
hours/year.
 Simplify the procedure and reduce processing time for registration of property ownership
and use rights to 14 days as maximum
 Access to credit index reach Top 30 countries of the World Economic Forum.

2.  Simplify the procedures and reduce processing time for commercial disputes to 200 days
as maximum (400 days currently) and 24 months (60 months currently), especially for
cases involving SMEs through court method.
Resolution 19 also calls for more active participation of business associations and professional
bodies in policy review and valuations as well as closer coordination with Government bodies to
support business development and resolve business issues.
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Please do not hesitate to contact Mr. Oliver Massmann under omassmann@duanemorris.com if
you have any questions on the above. Oliver Massmann is the General Director of Duane Morris
Vietnam LLC.
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THANK YOU VERY MUCH!