Vietnam committed to improving FDI environment

Foreign-invested enterprises are seeking specific actions to improve the business environment, especially by addressing inconsistencies in regulatory enforcement in localities.

- By Oanh Nguyen

At a working session on May 13 involving the chairman of the Central Commission for Policy and Strategy and leaders of central ministries and agencies, the communities of foreign-invested enterprises from the US, EU, and South Korea expressed their views on inconsistencies in regulatory enforcement across localities.

Virginia Foote, chair of the American Chamber of Commerce in Vietnam (AmCham), said the process of consolidating cities and provinces has created problems in policy implementation.

“Specifically, there is an inconsistency in the interpretation of legal documents (such as the Land Law or the Tax Law) and in law enforcement. Due to this inconsistency, local authorities have to seek guidance from the central government, prolonging the process and impacting investment activities,” Foote said.

To address this issue, it is crucial to have clear guidance from the National Assembly and the government to ensure that legal documents are interpreted and applied consistently across all localities, which will minimise the time and resources for investors.

“AmCham is willing to express our recommendations and cooperate with the government and state management agencies in the development of decrees, resolutions, or circulars to resolve these issues,” added Foote.

The European Chamber of Commerce in Vietnam also raised questions on the issue.