UK and Vietnam co-operate on business law review project

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Báo Dân Trí English - 40 month(s) ago 6 readings

UK and Vietnam co-operate on business law review project

The Vietnam Chamber of Commerce and Industry (VCCI) and the British Embassy held a ceremony yesterday to mark the UK’s financial support for a project to review Vietnam’s business laws.

Addressing the ceremony, VCCI Standing Vice President Hoang Van Dung, noted that following the agreement, the VCCI, supported by the Office of Government of Vietnam (the Prime Minister’s Office), would lead the project to review and develop recommendation papers and reports on the impact of 16 key laws to improve the investment and business environment, which would be submitted to the Prime Minister by December 2011.

“The papers will provide evidence and comments from stakeholders in civil society and the private sector (including foreign businesses) about the current problems in implementing these laws, and how they can be improved through better implementation, repeal and amendment, etc,” he said. “The 16 laws to be reviewed include the Accounting Law, Law on Value Added Tax, Law on Corporate Income Tax, Law on Tax Management, Law on Customs, Law on Land, Law on Real Estate Business, Law on Construction, The Enterprise Law, Investment Law, Law on Tendering, Commercial Law, Environment Law, Maritime Code, Civil Code, Intellectual Property Rights”.

According to Ms Kate Harrisson, Charge d’Affaires at the British Embassy in Hanoi, the grant agreement demonstrates the high level of mutual co-operation which has been established between the two sides.

“The project will support the further improvement of the business environment and the legal system which governs it in Vietnam,” she explained. “This will boost the sustainable development of Vietnamese enterprises and enhance the competitiveness of Vietnam’s economy in an increasingly globalised world”.

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