Working group meeting on Investment Law and Enterprise Law under the Vietnam Joint Initiative

(MPI) - On October 17, 2024, at the headquarters of the Ministry of Planning and Investment, a meeting of Working Group 5.2 on the Investment Law, Enterprise Law - Reforming mechanisms to improve the investment environment took place, within the framework of the Vietnam - Japan Joint Initiative in the new era (Phase 1).

Overview of the meeting. Photo: MPI

Since 2003, the two governments of Vietnam and Japan have established the Vietnam-Japan Joint Initiative policy dialogue framework to enhance efficiency between Japanese investors and Vietnamese ministries and sectors.

The Vietnam - Japan Joint Initiative makes an important contribution to building an open and transparent investment and business environment in Vietnam; provides constructive policy recommendations, and serves as reference information in the process of perfecting laws and policies for Vietnamese authorities.

At the kick-off meeting of the Vietnam - Japan Joint Initiative in the new era, phase 1, held on March 27, 2024, based on the relationship between the two countries that has been upgraded to "Comprehensive Strategic Partnership for Peace and Prosperity in Asia and the World" with the consensus of the two countries' senior leaders, the two sides agreed on 05 main working groups to be implemented in phase 1 of the Vietnam - Japan Joint Initiative, including: (1) Promoting the Asian Net Zero Emission Community, Green Transformation (AZEC/GX); (2) Promoting Innovation, Digital Transformation (DX); (3) Strengthening the supply chain, including developing supporting industries; (4) Training high-quality human resources (in the fields of IT, AI, semiconductors); (5) Reforming mechanisms to improve the investment environment.

At the meeting, representatives of the Ministry of Planning and Investment and the Japanese side focused on discussing a number of issues related to the implementation of the Investment Law and the Enterprise Law, such as the issuance and adjustment of investment registration certificates of foreign investors, adjustment of investors, adjustment of project progress, capital contribution, purchase of shares, purchase of capital contributions of foreign investors, etc.

Mr. Dang Xuan Quang, Deputy Director of the Legal Department, emphasized that the Ministry of Planning and Investment highly appreciated the Japanese side's efforts in implementing cooperation activities to implement the Joint Initiative, especially related to mechanism reform activities to improve the investment environment; at the same time, he emphasized that he will always be ready to coordinate with the Japanese side to continue to strengthen and further expand activities within this cooperation framework.

The Vietnamese side will study and propose measures to ensure consistent understanding and uniformity in the application of the Investment Law, Enterprise Law and guiding documents. At the same time, measures will be proposed to simplify and improve the efficiency and transparency of administrative procedures such as investment registration, business registration and other administrative procedures.

Ms. Yoko Obata, Head of the Japanese Working Group 5, said that Vietnam has an important position in the global supply chain and is a potential and attractive market for Japanese enterprises. However, some Japanese enterprises still point out investment risks such as low transparency in administrative procedures and time-consuming procedures here.

The Japanese side will continue to closely coordinate with Japanese investors to synthesize and share information with the Vietnamese side on the remaining issues so that both sides can make proposals in accordance with the legal framework of each country. Japanese enterprises always expect an open investment and business environment in Vietnam to continue to focus on investment and research and development of new products./.

Bao Linh

Ministry of Planning and Investment

Source: https://www.mpi.gov.vn/portal/Pages/2024-10-18/Hop-nhom-cong-tac-ve-Luat-Dau-tu-Luat-Doanh-nghiep41lsir.aspx