Norway, UN Agency Help Vietnam in Business Registration Reform

The Norwegian Embassy and the United Nations Industrial Development Organization (UNIDO) will fund US$8.9 million for a project to help Vietnam in businesses registration reform.

 

In the first phase, the project will receive US$5.2 million, US$4.2 million of which comes from the Norwegian Government and US$1 million from UNIDO.

 

The project, to last from now to 2011, will help Vietnam to develop a system of business registration related information and train office personnel in 63 cities and provinces.

 

The project is also expected to help reduce the time and cost of business registration procedures.

 

Besides, a web-based information distribution system for filling annual financial statements of shareholding enterprises will be set up.

 

Truong Van Doan, Deputy Minister of Planning and Investment said besides providing transparent information on enterprises, the on-stop registration service will ensure each enterprise has a unique ID, which will serve as that business’s tax code.

 

The Agency for Small and Medium-sized Enterprises Development under the Ministry of Planning and Investment will carry out the project in cooperation with the Tax Department under the Ministry of Finance, the Ministry of Public Security and the central level – and business registration offices nationwide. (Thanh Nien Daily, VNA)