The Norwegian Government and the United Nations Industrial Development Organisation (UNIDO) will finance 5.2 million USD for the first phase of a project on technical assistance for business registration reform in Vietnam.

An agreement to this effect was signed by the Vietnamese Ministry of Planning and Investment (MPI), the Norwegian Embassy and the UNIDO in Hanoi on August 7.

The 9-million-USD project, to last until 2011, will help Vietnam develop a system of business registration-related information and train office personnel in 63 provinces and cities.

It is expected to help reduce time and costs for registration procedures and set up a web-based information distribution system filing annual financial statements of shareholding enterprises.

MPI’s Deputy Minister Truong Van Doan said that in addition to providing open information of enterprises, the one-stop registration services will ensure each enterprise has a unique ID, which will be the tax code for that enterprise.

Norwegian Ambassador Kjell Magne Storlokken praised the Vietnamese Government’s efforts in private sector development and public administration reform.

“In the post WTO accession period, consolidated registration reform will contribute to improved transparency in the business environment, and reduce the transaction costs and risks in executing business activities in Vietnam,” Storlokken said.

UNIDO Representative Nilgun Tas said the National Business Registry will facilitate online information sharing between provincial business registration offices and relevant ministries, reduce the duplication of business names and offer web-enabled services, including the option to submit registration applications online.

The project is part of the UN’s “One UN plan”, a joint action programme between the Government and all 14 resident UN organisations in Vietnam.

Source: MPI