The ongoing 9th session of the 15th National Assembly is a historic one in the context of the Party and State’s strong determination to implement groundbreaking political, economic, and social reforms. Within the framework of this session, the National Assembly is expected to pass a law amending and supplementing a number of articles of the Law on Bidding, the Law on Investment in the Form of Public-Private Partnership, the Law on Customs, the Law on Value-Added Tax, the Law on Export and Import Duties, the Law on Investment, the Law on Public Investment, and the Law on Management and Use of Public Property (the “Law amending eight laws”), which will take effect from July 01, 2025. To ensure simultaneous enforcement with the Law amending eight laws, the Ministry of Finance has been assigned to preside over the drafting of a decree amending and supplementing a number of articles of Decree 31/2021/ND-CP, which details and guides the implementation of the Law on Investment (the “Draft”), under fast-track order and procedures. The Draft aims to resolve difficulties and obstacles, unlock resources, create the most favorable conditions for enterprises, and enhance the effectiveness and efficiency of state management in investment and business activities. Some notable points of the Draft include:
(i) Simplification and digitalization of the administrative procedures for investment;
(ii) Expansion of investment incentive policies with key sectors encouraged;
(iii) Adjustment to the regulations on the duration and implementation schedule of projects;
(iv) Stipulation of a specific mechanism for inter-provincial investment projects.
