VietNamNet Bridge – The online national business registration system, which allows enterprises to do business registration online and access trustworthy information of others, will be fully completed this year.
Transparent information will allow firms to match- make with a clear conscience.
Le Quang Manh, head of the Ministry of Planning and Investment’s Business Registration Agency, said the agency in cooperation with provincial business offices were trying to update information of all enterprises on the national business registration system this year.
“The national business registration system just allows enterprises to do business registration online. However, we have not yet completed a national data base of business registration so far,” said Manh. He said the agency was in process of collecting information of enterprises nationwide.
The national business registration, supported by United Nations Industrial Development Organisation, is part of a business registration reform. This is a system running in 64 different business registration offices nationwide, where all related agencies and enterprises can access information of every company incorporated in.
“This is a very good system where an enterprise can find trustworthy information about others that it is going to cooperate with. But due to poor archives in the past, we have to review and correct information of all registered enterprises in order to make it appropriate to the new system,” said Manh.
According to the Business Registration Agency, information on around 730,000 enterprises has been imported to the national business registration system. However, two-thirds of them have not been updated for years.
“About 140,000 enterprises have stopped operating till now but they do not file for bankruptcy,” said Manh. He added this would need time to review and update information of enterprises.
Business community recognizes the convenience of this national system and is urging the government to put this into full operation.
“I learnt that the government is preparing to launch the national business registration system and update all information as well as stages of enterprises on internet. This is a good ideal and it should be implemented as soon as possible,” said Cao Sy Kiem, chairman of Vietnam Small and Medium Enterprises Association.
However, Kiem said, the government should regulate specifically the enterprises’ responsibility for reporting. “At this time, many enterprises do not report annually to state authorities or report dishonestly because of the lack of strong legal regulations,” he said.
Le Van Hieu, chairman of Young Entrepreneurs Association in Danang, believes this system creates a transparent business environment and eliminates risks for businesses.
But he said a national business information system needed to be created in accordance with international standards to help enterprises as well as their partners access a reliable information channel.
Source: VIR