Review on the impact of 2014 Enterprise Law on business environment and some suggestions

Abstract

The 2014 Enterprise Law and its resulting legal documents that provide implementation instructions have exerted positive impact on the business environment and the development of enterprises. According to the Business Registration Administration Department of the Ministry of Planning and Investment, there were about 95,000 new enterprises established in 2015 – a short time after the the 2014 Enterprise Law came into effect. This record high number is an evidence for the positive influence of the Law. However, the Law reveals some limitations which adversely affect the business environment and development of enterprises. The paper focuses on presenting both pros and cons of the Law, thereby offering some suggestions to improve it in the context of global integration.