Obstacles in tax and land policies as well as in administrative procedures which are of major concern to investors are what the Government is trying to settle as soon as possible, said Deputy Prime Minister Vu Khoan at a recent meeting with foreign investors in Hanoi.

Mr Khoan told executives of foreign-invested businesses on April 20 that most of their proposals on tax policy have been put under consideration in order to work out proper tools, quoting the Ministry of Finance's report.

Foreign investors wanted the Government to continue lowering personal income taxes on a par with the regional average, and further reduce the number of products subject to the special consumption tax. They also proposed a proper tax policy on special industries and services such as the golf course business and an early return of taxes for re-investors.

Foreign investors were also informed that the Prime Minister has approved the Trade Ministry's plan to allow businesses to contact the Customs Office directly for import-export procedures. The new move meets investors' request to drop a procedure that required businesses to prepare import-export plans for the Government's consideration and approval.

The policy is being finalised and is expected to come into effect soon, said a representative from the Trade Ministry.

Meanwhile, the Ministry of Planning and Investment (MPI) is rushing to prepare lists of projects in need of investment, including those of medium priority and top priority up to 2010 and 2020. These lists would give investors a large range of options and help them make good choices more easily, said a representative from the MPI.

The MPI is also finalising the Common Investment Law and the Common Enterprise Law in an effort to create a level playing field for all players.

The major bills are expected to be submitted to the Government for consideration by late May and to the National Assembly for approval by October after gathering opinions from investors in all economic sectors, the conference was told.

Mr Khoan tasked the MPI to receive, deal with and answer investors' complaints on those issues within its power.

In this way, all investors' problems will be settled as soon as possible rather than investors having to wait for an annual meeting to raise their concerns, concluded Deputy PM Khoan.