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NEWS UPDATES Asean Affairs     September  22,  2016  

Entrepreneurship, capital surge

Viet Nam has seen a sharp surge in the number of newly established enterprises since two new laws on investment and enterprises took effect on July 1, 2015.

At a meeting to review the first year of the Law on Investment and the Law on Enterprises, held in Hà Nội yesterday, Bùi Anh Tuấn, deputy director of the Ministry of Planning and Investment’s Business Registration Management Agency, reported that more than 105,975 newly established enterprises with a total registered capital of VNĐ767.9 trillion (US$34.28 billion) were set up in one year from July 1, 2015 to July 1, 2016.

The number of newly established enterprises rose 27.8 per cent against the previous year while the registered capital surged more than 42 per cent, Tuấn reported.

The registered capital of newly established enterprises also averaged VNĐ7.25 billion, a year-on-year increase of 11 per cent, he said.

As for foreign direct investment (FDI) enterprises, the ministry reported that 1,660 FDI firms were set up in the period, with a total registered capital of VNĐ62.205 trillion.

Besides the surge in the number of newly established enterprises, the new laws also contributed to enhancing the freedom of enterprises to do business in all industries and sectors that are not prohibited.

The laws have also helped enterprises save time and money by shifting the attitudes of State management agencies.

The ministry reported that the most significant change is in the time it now takes to register firms nationwide - an average of 2.9 days.

The greatest change was recorded in  Ha Tĩnh province, reducing the process of licensing newly established enterprises to one day. The southern provinces of Tiền Giang and Hậu Giang followed with 1.3 and 1.32 days, respectively.

Working hours at municipal and provincial departments of planning and investment nationwide allso grew  40 per cent to 10-15 hours per day, according to the ministry.- VNS

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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