Vietnam’s Online Business Registration to be Completed This Year

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Apr. 30 – Vietnam’s online national business registration platform, which will allow enterprises to register online and be able to verify the legitimacy of potential business partners and companies, will be fully completed by the end of this year. This new system is designed to reduce the risk of doing business in Vietnam. Le Quang Manh, the head of the Ministry of Planning and Investment’s Business Registration Agency, stated that in cooperation with the provincial offices, all information will be updated and placed onto the national business registration system this year.

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“This is a very good system where an enterprise can find trustworthy information about others that it is going to cooperate with,” said Manh. “But due to poor archives in the past, we have to review and correct information of all registered enterprises in order to make it appropriate to the new system.”

Agencies across the nation are currently in the process of collecting updated information on business enterprises. Once launched, the new system will contain data from 64 different business registration offices, allowing agencies and enterprises to access crucial information of every company incorporated in Vietnam.

Currently, the information of approximately 730,000 enterprises has been imported into the business registration system. According to Manh, however, up to two-thirds of these enterprises have stopped operating without filing for bankruptcy. As a result, extra time is required to review and update the information of these enterprises in the new system.

The national business registration system is supported by the United Nations Development Organization as part of their ongoing business registration reforms and also by the local Vietnamese business community.

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