Deployment Organizational identifier theo Decree 69 / 2024 / ND-CP, with registration required electronic identity account before day 01/07/2025, is an important step in Vietnam's digital transformation strategy. For businesses, this regulation not only ensures compliance with the law but also opens up opportunities for governance restructuring, enhancing reputation and consolidating competitive position. This article analyzes the impact of organizational identification on comply with the law , and market competition, while providing strategic vision for business owners to clearly see: Businesses that lack transparency will face difficulties, while businesses that invest properly will grow strongly.
Compliance Impact: Transparency and Professionalization of Governance
Organization identification, through electronic identification account on the application VNeID, is a tool to help the state increase supervision and ensure transparency in business operations. This encourages businesses to shift to a more professional governance model.
- Ensuring transparency in all activities:
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- Electronic identity accounts are linked to unique information in National Business Registration Database, authenticated by PoliceAdministrative transactions, such as paying taxes, reporting labor or registering a business, are all done online via National Public Service Portal (dichvucong.gov.vn), ensuring accuracy and traceability.
- Businesses may have previously had difficulty synchronizing information with government agencies. With Organizational Identity Account, all data is automatically checked and authenticated, minimizing errors and improving management efficiency.
- Promote professional management:
- Businesses that do not maintain accurate legal information or lack valid records will have difficulty meeting the authentication requirements of the VNeID system, leading to the risk of being restricted from operating in the market. This can seriously affect business operations.
- To comply, businesses need to ensure that legal information (name, tax code, business lines) is continuously updated and synchronized with state agencies. This requires investment in internal management systems, professional accounting and standardized operating procedures.
Competitive impact: Eliminate non-transparent businesses, creating advantages for businesses with systematic investment
Organizational identity creates a fair competitive environment where businesses that operate transparently and invest properly will gain an advantage, while businesses that lack effective governance will gradually lose their position.
- Lack of transparency in businesses faces big challenges:
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Businesses that do not maintain adequate legal records or fail to meet the authentication requirements of the VNeID system will have difficulty participating in important business activities, such as bidding, signing large contracts, or accessing loans.
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Example: In the construction industry, some businesses may have previously used inaccurate information to participate in bidding. With organizational identification, strict identity authentication requirements will cause these businesses to lose the opportunity to compete.
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- Enterprises with thorough investment grow strongly:
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Enhance credibility: Organizational identity compliant businesses will have a “digital identity” authenticated by Police, creating trust with customers, partners and financial institutions.
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Save money and time: Using an electronic identification account to carry out administrative procedures online helps reduce travel costs, paperwork and waiting time. According to the General Department of Taxation, businesses applying electronic invoices and paying taxes online save up to 70% of the time compared to traditional methods.
- Competitive advantage: Businesses that invest in governance, technology and compliance will find it easier to integrate with digital platforms, such as e-commerce, online bidding or digital financial systems, thereby expanding their markets and surpassing slow-to-transform competitors.
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Promote fair competition:
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Organizational identification creates a transparent marketplace where businesses compete based on product quality, service, and reputation. Small and medium-sized businesses, if run efficiently, will have the opportunity to compete on equal terms with large companies thanks to a unified authentication standard.
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Real impact: A fair competitive environment helps businesses focus on innovation and quality improvement, rather than relying on opaque methods.
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Organizational identification is a tool to promote transparency and professionalization. Compliance not only helps businesses avoid legal risks but also builds a solid foundation for long-term development.
Strategic Vision: Action for Sustainable Development
To turn organizational identity into a lever for growth, business owners need to implement specific strategies, taking advantage of this regulation to improve competitiveness and expand scale.
- Complete compliance to build a solid foundation: Check and update business information, register a level 2 VNeID account for the legal representative, and complete the electronic identification account first. 30/06/2025.
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Improve internal management capacity: Invest in a professional accounting system, update legal records regularly and apply digital management tools to synchronize data with the state system.
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Accelerating digital transformation: Integrate VNeID accounts into internal processes, deploy electronic invoices, digital signatures and modern management software. Participate in digital transformation training programs provided by Ministry of Industry and Trade, Department of Planning and investment or business associations organized.
Summary
Organization identifier by Decree 69 / 2024 / ND-CP is a strategic opportunity for businesses to improve transparency, professionalize management and strengthen their competitive position. For business owners, this is the time to:
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Ensuring compliance: Avoid legal risks and build reputation.
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Take advantage of competitive advantage: Outperform opaque competitors through effective governance.
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Sustainable Development: Invest in digital transformation to expand the market and reach out internationally.
Take action today: Complete your electronic identity account registration, partner with professional consultants such as Expertis, and build a digital transformation strategy. A transparent and methodical business will not only survive but also lead in the digital age.
