Vietnam, Sept 18 Ha Noi has declared that it is implementing stronger supervision of foreign and domestic investors by mandating police background checks before granting them major projects. The relocation, which was affirmed by the Ministry of Planning and Investment, is done as a part of reforms to enhance financial transparency and block illicit flow of capital.
The action will be deployed mainly on high value real estate, infrastructure, and energy projects. Although the reform is expected to enhance the investor credibility and work together with the anti-corruption agenda, business groups are alarmed at the fact that the process might slacken the pace of investment approvals.