Nov. 19 – Hanoi’s Department of Planning and Investment announced plans to cut down the number of days it takes to establish a new business from the current 30 days to a maximum of nine days beginning November 17.
Deputy director of Department of Planning and Investment, Nguyen Van Tu, told Thanh Nien News that personnel from the planning and investment department, tax agency and the police will be gathered at the department’s business registration office to deal with new business applications.
This will hopefully streamline administrative procedures and lessen the time and effort it takes for entrepreneurs to launch a business. With this arrangement, businesses don’t have to spend time running around to complete all necessary procedures, Tu added.
Tu went on to say that the department has also proposed adequate compensation for the staff so that they do not solicit bribes or engage in other actions that cause difficulties to businesses.
Can I have statistics on the number of new businesses opening in Hanoi and all Vietnam in the last year? Every month at least in Hanoi, new retail shops are opening like mushrooms.