Add special investment procedures to attract "eagles"

Delegates assessed that the draft law amending four laws in the investment field has addressed the most urgent issues. In particular, the addition of special investment procedures is expected to attract "eagles".

One law amends four investment laws: Adding special investment procedures to attract "eagles"

Delegates assessed that the draft law amending four laws in the investment field has addressed the most urgent issues. In particular, the addition of special investment procedures is expected to attract "eagles".

The National Assembly discussed the Draft Law amending and supplementing a number of articles of the Law on Planning, the Law on Investment, the Law on Investment under the public-private partnership (PPP) model, and the Law on Bidding. Photo: Nhu Y

Shifting from pre-control to post-control, promoting decentralization

On the morning of October 30, the National Assembly discussed the Draft Law amending and supplementing a number of articles of the Law on Planning, the Law on Investment, the Law on Investment under the public-private partnership (PPP) model, and the Law on Bidding.

In this draft law, the Government focuses on amending contradictory and confusing regulations to create favorable conditions for investment, production and business activities.

Regarding the amendment of the Law on Planning, the Government proposes to simplify the planning process; at the same time, supplement the shortened planning adjustment procedure according to the principle of not changing the objectives, ensuring consistency, inheritance and systematization between plans to promptly meet the requirements of socio -economic development. In addition, the Prime Minister's authority to approve the provincial planning implementation plan is delegated to the provincial People's Committee to enhance the responsibility and initiative of localities in organizing the implementation of planning. Amend the regulation "Project List" to "Proposed List" of important national projects, priority projects of national planning, regional planning, provincial planning to properly reflect the orientational nature of the planning, ensuring flexibility in the implementation process.

Regarding the amendment of the Investment Law, the draft Law provides regulations to promote decentralization of the Prime Minister's approval of investment policies to the People's Committees at the provincial level for investment projects in construction and business of infrastructure of industrial parks and export processing zones; investment projects in construction of special seaports with a scale of less than VND 2,300 billion and projects in the protected areas of national monuments and special national monuments.

At the same time, supplement special investment procedures for investment projects in the fields of innovation, semiconductor industry, high technology in industrial parks, export processing zones, high-tech zones and economic zones in the direction of shifting from "pre-inspection" to "post-inspection". Investors register for an Investment Registration Certificate within 15 days; commit to implementing the project according to standards and regulations on construction, fire prevention, fighting, environmental protection and do not have to carry out some procedures to be licensed in this field (expected to shorten the project implementation time by about 260 days).  

Regarding the amendment of the Law on Investment under the public-private partnership method, the Government proposed to remove restrictions on the investment sector under the PPP method and not stipulate the minimum capital level for these projects; restore the application of BT contracts; increase the State capital ratio to higher than 50% but not exceeding 70% of the total investment for projects with site clearance costs of more than 50% of the total investment; projects implemented in areas with difficult socio-economic conditions; and projects requiring the transfer of high technology; promote decentralization, delegation of authority, and simplification of procedures.

Regarding the amendment of the Law on Bidding, the Government proposes to simplify bidding procedures for bidding packages using ODA capital and preferential loans from donors to accelerate the process of signing international treaties and foreign loan agreements, contributing to unblocking preferential loans from donors. At the same time, it is necessary to add bidding packages that apply the form of contractor selection in special cases, and at the same time, decentralize the authority to decide on the application of this form to facilitate the implementation of bidding packages with special requirements, which cannot be applied by other forms prescribed in the Law on Bidding. In addition, it is necessary to allow the application of direct procurement multiple times to purchase retail drugs at hospital pharmacies to promptly meet the treatment needs of patients, ensuring the initiative in the operation of hospital pharmacies, etc.

The draft law amending four laws in the investment sector was highly appreciated by delegates. Delegate Tran Hong Nguyen (Binh Thuan) said that the drafting agency had seriously absorbed and selected the most urgent issues to include in the draft law.

Meanwhile, standing in the “role” of a business, delegate Huynh Thanh Chung from Binh Phuoc said he was very happy because the draft law immediately resolved urgent practical problems, especially the simplification of procedures and the promotion of decentralization. Mr. Huynh Thanh Chung hoped that the draft law would be passed at this session to resolve difficulties and bottlenecks for businesses, and also to prepare well for the upcoming term.

Need to review criteria and list of projects enjoying special investment procedure incentives

Commenting on the draft amended Investment Law, delegate Le Quang Huy (Binh Thuan) strongly agreed with the addition of special investment procedures for projects in the fields of innovation, semiconductor industry, and high technology in industrial parks, export processing zones, and high-tech zones. However, according to Mr. Huy, adding special incentive procedures is not enough, but it is necessary to add more special incentives to attract large investors. Of course, these special incentives should only be applied to a number of projects that meet certain criteria.

The draft law supplements special investment procedures for investment projects in the fields of innovation, semiconductor industry, high technology in industrial parks, export processing zones, and high-tech zones. Investors register for an Investment Registration Certificate within 15 days; commit to implementing the project according to standards and regulations on construction, fire prevention, fire fighting, environmental protection and do not have to carry out some procedures to be licensed in this field (expected to shorten the project implementation time by about 260 days).  

Also related to this content, delegate Nguyen Quoc Luan (Yen Bai) said that the subjects applying special investment procedures as in the draft law are too broad, including enterprises with high risk of causing environmental pollution. Therefore, the delegate suggested that the drafting agency review the list and eliminate high-risk enterprises. This delegate also suggested that it is necessary to add regulations on capital to prevent unqualified investors from establishing projects just to enjoy incentives.

Minister of Planning and Investment Nguyen Chi Dung speaks at the group discussion today (October 30). Photo: Nhu Y

Delegate Do Van Yen (Ba Ria-Vung Tau) highly appreciated the decentralization and delegation regulations in the draft amendments and supplements to the Investment Law, which both help reduce the burden on the central level and enhance the initiative of localities. However, regarding special investment procedures in industrial parks, export processing zones, and high-tech zones, the delegate recommended adding criteria for applicable projects to avoid IPs and export processing zones abusing their power and lacking transparency in managing large projects.

Regarding the draft amendments and supplements to the Law on Planning, many delegates welcomed the addition of simplified planning adjustment procedures and recommended allowing local planning adjustments.

According to delegate Le Quang Huy (Binh Thuan), not allowing local planning adjustments will cause many projects to encounter difficulties (for example, currently, a series of projects are having to stop due to problems with mineral planning). Therefore, the delegate requested the drafting agency to allow planning adjustments in conjunction with specialized laws, on the basis of not changing the overall planning objectives.

Giving a vivid example of his own business, delegate Huynh Thanh Chung (Binh Phuoc) stated that in order to attract FDI enterprises, industrial parks are forced to invest in transformer stations to pull electricity, but because the planning does not include transformer stations, even though the transformer station only "takes a few square meters", the congestion has not been resolved for several years.

Regarding special investment procedures, Mr. Chung said that the regulations as drafted will greatly support industrial parks and export processing zones. Currently, there are FDI enterprises willing to invest tens of millions of USD in the industrial parks under his management, but they require completion within 10 months. This is very difficult because fire prevention and fighting procedures and environmental impact assessment alone take 8 months. In fact, many enterprises have accepted being fined to speed up project progress.

With the draft amendments and supplements to the PPP Law, delegates highly agreed on removing restrictions on investment sectors as well as minimum capital limits for PPP projects. Delegate Hoang Van Cuong (Hanoi) said that removing these restrictions will help attract investment capital flows in society, especially in the fields of culture, society, sports, health, etc.

According to Mr. Cuong, raising the state capital contribution ratio from below 50% to a maximum of 70% as in the draft is reasonable, because there are projects with large land clearance costs or complex technical works requiring large investment capital. If the state contributes less than 50%, it will not create attractiveness for attracting investment.

Regarding the draft Law on Bidding, Delegate Do Van Yen (Ba Ria-Vung Tau) said that allowing pre-bidding will help shorten the project implementation time and create flexibility for investors. However, the regulation allowing investors to cancel bidding without compensation if the project is not approved may negatively affect the rights of contractors. Therefore, it is necessary to consider adding specific regulations on the responsibilities of investors when canceling bidding, as well as conditions for contractors to be protected in this case.

Regarding the regulation on purchasing drugs for retail sale within public hospitals (amended Clause 2, Article 55), the Draft allows direct multiple purchases of drugs for retail drug establishments within public hospitals. This regulation aims to address the shortage of drugs and medical supplies and ensure continuous supply. However, according to delegate Yen, there needs to be a strict inspection and monitoring mechanism to ensure transparency and avoid the abuse of the direct multiple purchase policy, ensuring the best service for patients.

In general, when giving comments on the draft law, delegates expressed high consensus and approved most of the proposals put forward by the Government. The main opinions requested careful review and further clarification...

Speaking to delegates at the group discussion, regarding the issue of adjusting local planning, Minister of Planning and Investment Nguyen Chi Dung said that the draft Law has in fact allowed this issue. Regarding special investment procedures, the Minister said that the issuance of this regulation is very necessary in the context of increasingly fierce competition to attract FDI capital, a sharp decrease in foreign investment capital flows worldwide, and an increasing protectionist trend. Countries are constantly innovating to compete to attract investment, if Vietnam stands still, it will lose the opportunity.

Source: https://baodautu.vn/mot-luat-sua-bon-luat-linh-vuc-dau-tu-bo-sung-thu-tuc-dau-tu-dac-biet-de-thu-hut-dai-bang-d228737.html