The revised Investment and Enterprise Laws, adopted by the NationalAssembly last week, will further improve the country’s investmentenvironment, Minister of Planning and Investment Bui Quang Vinh hassaid.

He mentioned to the identification of theareas prohibited from business and investment as a noticeable changethat makes the country move closer to the world’s standard practices.

Other fresh change is that local businesses are notentitled to getting business licenses since they are allowed to dobusiness in the areas that are not banned by law, except for thosewishing to join conditional fields.

Among 267conditional business areas, the Government determines which will needlicenses, he said, explaining that required conditions aim to servepeople’s developmental benefits, ranging from health issues, security,to environmental protection.

Regarding the management and use ofseals at enterprises, Vinh said the revised Enterprise Law allowsbusinesses to decide the format and content of seals and requires themto be responsible for their own seals.

The law also encouragesthe use of personal signatures, especially e-signatures, as a legalbasis replacing the seals, he said, adding that seals, however, cannotbe immediately abolished due to the reality in the country.

The amended Investment and Enterprise Laws are expected to create awave of new businesses as they encourage people to invest their idlemoney in business activities, the minister said.

They are also expected to generate millions of jobs and other important values for the country, he noted.-VNA