Total transparency in foreign investment procedures

Getting transparent information on investment procedures has never been easier in Vietnam since the government launched Vietnam.eregulations.org. This portal is an important step in Vietnam’s efforts towards integrity and accountability of public agencies.

Vietnam

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The Vietnam government launched a new tool for foreign investors: Vietnam.eregulations.org. This national portal, financed by the government of the Grand Duchy of Luxembourg, with technical assistance from UNCTAD, is an online step-by-step guide on procedures to set up a business in Vietnam. It reflects procedures from the user’s point of view, as they are applied in practice in 7 provinces.

While Vietnam is an attractive destination for investors, the country can be sometimes associated with cumbersome procedures and opaque bureaucracy. The eRegulations Vietnam portal is an effective step for the government of Vietnam to increase the transparency, integrity and accountability of public agencies. Users can contact the officers in charge of procedures and also send complaints, report misconduct and propose simplification ideas through the system. The portal promotes awareness of rules and procedures and stimulates public-private dialogue.

Nouvelle imageIt also provides a hands-on tool in Vietnam’s efforts to detect unnecessary steps and administrative requirements and to streamline and harmonize procedures.

To promote this new tool, the Vietnam Foreign Investment Agency, with UNCTAD’s assistance, has organized in July a series of workshop meetings with foreign business communities and investors in Hanoi and Ho Chi Minh City.

Vietnam-based international Chambers of Commerce and business associations representing investors from various countries such as Japan, Korea, Australia, USA, France, Taiwan or Austria are now spreading the word about eRegulations Vietnam on social media and their websites. They use a set of promotional material made available online for them by UNCTAD on the « Get involved » webpage of the portal.

Already 27 countries worldwide are using the UNCTAD eRegulations system. Vietnam is the first country in Asia to join this international network of transparency on investment rules and procedures. Thanks to this effort, Vietnam is now listed and ranked among the best in the Global Enterprise Registration portal (www.ger.co), which lists official business registration websites worldwide and rates each website’s user-friendliness.

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Learn more about UNCTAD eRegulations worldwide here.

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