National Assembly discusses revised Law on Investment

On Wednesday, during its 8th session, the National Assembly discussed the revised Law on Investment, which lifts investment and trade barriers that are no longer in line with Vietnam's market economy and international integration.

It will improve Vietnam's investment climate toward greater transparency and equality among investors.

Deputy Duong Minh Tuan of Ba Ria-Vung Tau province said: We need revisions to the Law on Investment to attract investors to projects that will effectively use Vietnam's land, natural resources, and labor.

Deputy Tran Van Tien of Vinh Phuc province said: Preferences and support for investors are essential, especially procedures for qualified investors to access such preferential treatment. I want lawmakers to clarify the necessity of adding support for investment using the State budget, and its feasibility and conformity with the Law on State Budget, the Law on Public Investment, and international commitments that Vietnam has made. I think it's needed to review preferences and support for investors. There should be articles on measuring the effectiveness of projects, which can be used as criteria for supporting technology and technology transfer.

National Assembly deputies emphasized on amendments to the Enterprise Law in removing difficulties in enforcement and institutionalization of the Party guidelines. Deputy Mai Hong Hai spoke at the discussion on Wednesday:The Enterprise Law should ensure State management and creation of favorable environment for business growth. With hindsight over the past 30 years implementing the law, amendments all aim to instill a new spirit in production stimulation and market economy improvement.

Deputy Vu Tien Loc representing Thai Binh province said the revision would facilitate business registration and reduce start-up costs. He added: Having household businesses governed by the law is to ensure equal rights in business operation, while respecting its role in history in line with international law and better serve international integration.

Source: VOV5