The conference between South Korean businesses (including Samsung) and the Vietnamese government At a dialogue organised today (July 17, 2020) between the Advisory Council for Administrative Procedural Reform and the South Korean Embassy and businesses community, Choi Joo Ho, director general of Samsung Vietnam, raised three recommendations. Regarding the Law on Investment, Choi Joo Ho said that if the scale of investment increases or decreases too much, businesses have to adjust their investment registration certificates. “However, this procedure is quite complicated and takes a lot of time, especially in the IT sector. For example, a Samsung subsidiary spent so long to deal with the procedure of adjusting investment registration certificate last year that they almost missed the plan on manufacturing new products,” Choi Joo Ho said. “Of course, thanks to support from Minister, Head of the Government Office Mai Tien Dung and government authorities, we accomplished this procedure. However, other companies could face the same challenges or even worse. I think businesses have to adjust their certificate if the investment scale decreases, but the government should review and consider simplifying administrative procedures so that investors can disburse their money easier,” the head of Samsung Vietnam added. Related to the advanced pricing agreement (APA) proposed by the South Korean… Read full this story
- Challenges face Vietnam’s economy despite positive prospects
- BUSINESS NEWS IN BRIEF 9/9
- BUSINESS NEWS IN BRIEF 27/1
- BUSINESS NEWS IN BRIEF 27/2
Samsung highlights challenging administrative procedures have 241 words, post on www.vir.com.vn at August 27, 2020. This is cached page on Talk Vietnam. If you want remove this page, please contact us.