15:52 | 30/06/2015 Economy
The Foreign Investment Agency of Viet Nam, under the Ministry of Planning and Investment, launched the third phase of E-regulations system on June 29.
The front page of a foreign investment portal launched by the Foreign Investment Agency of Vietnam, under the Ministry of Planning and Investment. The site provides step-by-step guidelines on investment procedures to help foreign investors with information on investment activities and business operations in Viet Nam.
Available at vietnam.eregulations.org in English, Japanese, and Chinese languages, the site provides step-by-step guidelines on investment procedures to help foreign investors with information on investment activities and business operations in Viet Nam.
There will be a summary on each procedure, mentioning points such as institutions involved, expected results, requirements, average duration, and legal justifications. In each step, investors can see the contact details of civil servants in charge, forms and requirements, costs, duration, and laws.
Speaking at the launch, Claude Jentgen, Charge d'Affaires of Luxembourg Embassy in Hanoi, said that E-regulations will be a useful tool not only for investors but also for governmental agencies and provincial authorities for promoting investment and making administrative procedures more open and transparent.
Do Nhat Hoang, Director of the Foreign Investment Agency of Viet Nam, noted that the system will reduce difficulties for investors who can comfortably do business in Viet Nam and will support them through the country's investment procedures and processes.
Viet Nam is among the 28 countries in the world and the first country in Asia to implement E-regulations. Since 2007, the system has covered seven cities and provinces, including Ha Noi, HCM City, Da Nang, and Phu Yen.
The project has been financed by the government of the Grand Duchy of Luxembourg, with technical assistance from the United Nations Conference on Trade and Development (UNCTAD)./.